Global Quality Management Software (Complaint Handling, Document Control) Market Size, Share & Trends Analysis Report 2022-2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Quality Management Software Market Size, Share & Trends Analysis Report by Solution (Complaint Handling, Document Control), by Deployment, by Enterprise Size, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global quality management software market is estimated to reach USD 20.66 billion by 2030, registering a CAGR of 10.4%

The rising developments in QMS functions, as well as the increasing integration of artificial intelligence and machine learning technologies, are the factors anticipated to drive the market demand. The market is expected to gain traction owing to the increasing penetration of the Internet of Things (IoT), Industrial Internet of Things (IIoT), and smart devices.

The outbreak of COVID-19 is likely to impact businesses drastically, due to the stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges because of this unforeseen outbreak.

However, the impact on the software industry, including QMS solutions, has been relatively low. The manufacturing and transport & logistics industries are expected to experience a significant negative impact in the aftermath of the pandemic.

The suspension of production along with the trade of various goods and services is expected to affect the QMS market in the short term. Supply chain disruptions and the introduction of new regulations had a profound impact on the market growth. However, industries such as healthcare in addition to IT & telecom are likely to witness growth opportunities.

Effective and efficient change management has become more critical in the life sciences industry as the global need for access to medicinal products and medicines has increased exponentially. QMS vendors are instrumental in providing solutions with customized features to meet the increasing needs of the healthcare industry.

QMS software offers various functionalities, including out-of-specification test results, handling of non-conformances, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations' ERP and CRM systems. All these functionalities, coupled with benefits such as reduction of operational costs and business process optimization, are estimated to propel the adoption of QMS across a wide range of industries.

The QMS market is also anticipated to witness significant growth owing to the rising demand for the effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market.

In addition, the rapidly increasing technological advancements in the IT & telecom sector and growing automation of the transportation & logistics industry are also contributing to the market demand.

Quality Management Software Market Report Highlights

• The document control segment is expected to witness significant growth during the forecast period. The solution aids in the creation of a central repository for all quality management paperwork and reduces risk by incorporating closed-loop quality management activities into a single system
• The cloud segment is anticipated to record the highest CAGR from 2022 to 2030. Benefits such as flexibility and mobility are remarkably contributing to the large-scale adoption of QMS on cloud-based platforms. Furthermore, the additional costs incurred in setting up hardware are eliminated, thereby providing cost efficiency
• The small & medium enterprise segment is expected to record the highest CAGR from 2022 to 2030. The increasing number of providers and lower costs of QMS solutions have increased their acceptance among SMEs. Furthermore, the applicability of QMS solutions in process optimization and total product cost reduction is expected to boost segment growth throughout the forecast period
• The healthcare segment is anticipated to emerge as the fastest-growing end-use segment during the forecast period. QMS supports pharma companies in enhancing the quality and availability of medicines across the globe and this is anticipated to drive the growth of the pharma QMS market. Furthermore, the healthcare industry is focusing on enhancing the healthcare quality system along with prioritizing and identifying the quality of the products, which can be achieved by adopting QMS

Competitive Landscape

• Sparta Systems Inc.
• Mastercontrol, Inc.
• Sap Se
• Arena Solutions, Inc.
• Plex Systems, Inc. (Rockwell Automation)
• Cority Software Inc.
• Metricstream, Inc.
• Pilgrim Quality Solution, Inc.
• Unipoint Software, Inc.
• Dassault Systemes Se
• Etq Management Consultants, Inc.
• Microsoft Corporation
• Oracle Corporation
• Siemens AG
• Ideagen plc
• Veeva Systems
• Intelex Technologies

Market Dynamics

Market driver analysis

• Growing need for improving organizational effectiveness
• Rising demand for reducing the total cost of production in several end-use industries

Market challenge analysis

• Security threats involved in cloud-based platforms

Industry Analysis

• Quality Management Software Market - Porter's Analysis
• Quality Management Software Market - PESTEL analysis

Vendor Selection Criteria

Regulatory Framework

Vendor Ecosystem

For more information about this report visit https://www.researchandmarkets.com/r/ulapjg