Quality Management Software Market To Reach USD 26.3 Billion By 2032 | DataHorizzon Research
The quality management software market size was valued at USD 11.3 Billion in 2023 and is expected to reach a market size of USD 26.3 Billion by 2032 with a CAGR of 9.8%.
Fort Collins, Colorado, May 05, 2024 (GLOBE NEWSWIRE) —
The adoption of quality management software in business sectors boosts industry growth.
Enterprises across various industries are adopting different approaches to meet the unique needs of their customers, leading to an increased demand for customized solutions tailored to specific operations. This trend reflects the diverse demands of different business sectors and underscores the necessity for flexible and adaptable solutions. Furthermore, the widespread adoption of cloud-based platforms has sparked a surge in demand for Quality Management System (QMS) solutions among small and medium-sized enterprises (SMEs). The advantages of cloud-based QMS, such as flexibility and mobility, have made them increasingly appealing to SMEs seeking efficient and scalable solutions.
A key driver behind the market growth of QMS solutions is the growing importance of organizational effectiveness in gaining a competitive edge. Enterprises face intense competition and strive to enhance their effectiveness to stand out in the market. Consequently, there is a rising demand for streamlining and centralizing business processes to improve organizational efficiency. In response to this demand, modern enterprises and project managers prioritize implementing quality standards within their business processes. By leveraging quality management software, organizations can enhance the efficacy of their operations, leading to improved performance and competitiveness in the market.
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Segmentation Overview:
The quality management software market has been segmented into solution, deployment, enterprise size, application, and region.
The complaint-handling segment registered massive growth in 2023.
- Based on solutions, the quality management software market is sub-segmented into audit management, calibration management, change management, complaint handling, document control, employee training, non-conformances, and supplier quality management. The complaint-handling segment held the largest market share in 2023. This can be attributed to the importance of an effective complaint management system to the company.
The manufacturing segment accounted for a significant share in 2023.
- Based on application, the quality management software market is segmented into IT & telecom, transportation & logistics, consumer goods & retail, defense & aerospace, manufacturing, and healthcare. The manufacturing segment held the major market share in 2023.
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Quality Management Software Market Report Highlights:
- The quality management software market growth is anticipated at a CAGR of 9.8% by 2032.
- The growing importance of organizational effectiveness to gain a competitive advantage is a major factor driving market growth.
- North America held the dominant market share in the quality management software market in 2023. The rising demand for quality management software, healthcare domain, and transportation and logistics industries drives growth. QMS software is in high demand from various stakeholders in healthcare for compliance of their products or services to FDA regulations.
- Some prominent players in the quality management software market report include Oracle Corporation, Planview, Broadcom, SAP SE, Microsoft Corporation, Adobe Inc., Hexagon AB, ServiceNow, Upland Software, Atlassian Corporation, GFT Technologies, Micro Focus, Planisware, Sciforma, Sopheon.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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