According to a new report on Quality Management Software (QMS) Market published by Polaris Market Research, the global market is anticipated to reach 15.48 USD billion by 2026 with a CAGR of 9.7% during the forecast period.
QMS is used to replace the paper based systems with automated
quality management systems that follows stringent regulations and quality
standards. This improves the product quality, increase the efficiency and
satisfy the customer demands. QMS is anticipated to witness a remarkable growth
owing to the standards and regulations compliance. The key factor that boosts
QMS market is the solutions and systems used to ensure the high quality products
and processes.
QMS reduces the risk of quality process failures and lower costs
for large number of clients across a range of industries. QMS offers various
features such as track deviations, improves non-conformances, improves safety
and other features. Adoption of QMS can help the organization to improve their
performance and overall competitiveness..
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Owing to the strict regulations, embedded business models and
complex procedures, in the manufacturing, transportation & logistics
sector, the implementation of QMS has increased. These regulatory implications
are another major driving factor for the market. The demand for QMS is driven
by the consumer goods & retail segment which facilitates the user by
delivering high quality products at a cheap price which meets the customer
satisfaction.
QMS offers different solutions which include complaint handling,
audit management, change management, as well as document control. The factor
that trigger the growth of QMS is document control which ensures secure
documents and offers a repository for all documentation that makes search and
retrieval a very easy task. Another rising factor that boosts the market growth
of QMS is cloud-based deployment which offers flexibility, scalability, and
optimized processes. Due to the recent advancements in the technology most of
the companies are switching to cloud based services.
Key Findings from the study suggest that North America is the
major region for the quality management software in 2017. The quality
management software is dominated by the segments such as non-conformance/
corrective & preventive solutions. The complaint handing market is expected
to emerge as the key segment over the forecast period.
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Developing economies of Asia Pacific drive the demand of QMS with
application in industries such as manufacturing, transportation &
logistics. Change management is also one of the key reason that gain traction
in Asia-Pacific market. Another rising factor that boosts the market growth of
QMS is cloud-based deployment which offers flexibility, scalability, and
optimized processes. Due to the recent advancements in the technology most of
the companies are switching to cloud based services.
Key players for QMS in the market are Aras Corporation, Dassault
Systems SE, Hewlett-Packard Enterprise Co., MasterControl, Inc., Microsoft
Corporation, Oracle Corporation, Parasoft Corporation, PSC Biotech
Corp., SAP SE, Siemens AG, and Sparta Systems.
