According to a new report Global Quality Management Software Market, published by KBV research, The Global Quality Management Software Market size is expected to reach $16.9 billion by 2027, rising at a market growth of 9.5% CAGR during the forecast period.
By Solution, the complaint handling segment dominated the market with the largest share in revenue in 2020. There is a need for effective management of complaints that can help in actively fulfilling the customer expectations and improve brand equity. Thus, companies are implementing standard complaint handling tools & processes to manage complaints made by consumers more effectively and efficiently. All these aspects are anticipated to augment the growth of the market.
The cloud deployment segment would showcase the fastest growth rate during the forecast period. Some of the major aspects surging the demand for cloud segment are higher scalability & flexibility, security factors, and better control across the data center that are provided by the cloud technology. In terms of security, data encryption techniques are majorly implemented to protect sensitive QMS data from any kind of theft or loss. All such encryption techniques provide better security during data transmission and are anticipated to accelerate the growth of the cloud segment during the forecast period.
The North America market dominated the Global Quality Management Software Market by Region 2020. Asia Pacific is expected to witness the fastest growth rate during the forecast period due to the increasing awareness about the standards & quality among developing nations like India and China. There is increasing adoption of quality management software in the region due to the growing need for advanced and improved solutions to boost their product quality, which is among the most crucial parts of the business operations.
Full Report: https://www.kbvresearch.com/quality-management-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Honeywell International, Inc. (Sparta Systems, Inc.), SAP SE, PTC, Inc. (Arena Solutions, Inc.), Plex Systems, Inc., Cority Software, Inc. (Thoma Bravo), Oracle Corporation, Siemens AG, Dassault Systemes SE (Biovia Corporation), Microsoft Corporation, and MasterControl, Inc.
Global Quality Management Software Market Segmentation
By Solution Type
• Complaint Handling
• Document Control
• Audit Management
• Non-conformances/Corrective & Preventative
• Change & Calibration Management
• Supplier Quality Management
• Employee Training
By Enterprise Size
• Large Enterprise
• Small & Medium Enterprise (SME)
By Deployment Type
• Telecom & IT
• Consumer Goods & Retail
• Transportation & Logistics
• Aerospace & Defense
• Rest of North America
• Rest of Europe
• South Korea
• Rest of Asia Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
• Honeywell International, Inc. (Sparta Systems, Inc.)
• SAP SE
• PTC, Inc. (Arena Solutions, Inc.)
• Plex Systems, Inc.
• Cority Software, Inc. (Thoma Bravo)
• Oracle Corporation
• Siemens AG
• Dassault Systemes SE (Biovia Corporation)
• Microsoft Corporation
• MasterControl, Inc.