According to a new market research report published by Credence Research “Quality Management Software Market (Type – Document Management, Audit Management, Supplier Quality Management, Education & Training, Compliance Management, Corrective & Preventive Action (CAPA), Customer Management, Complaint Management, Environment, Health And Safety Management and Others; Deployment Model – On-premise and Hosted) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025”, the global quality management software market to cross the US$ 10 Bn mark by 2025.
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Quality management software are comprehensive suite of software solutions for different processes including audit management, document handling, training and other quality processes. Quality management software is designed to be implemented across the entire process chain of a given organization to ensure the end product is up to the mark and complies with regulations and quality standards. Due to rising competition among the business organizations, quality management has emerged one of the most serious concerns. Companies are now more focused towards maintaining the superior quality of their processes and final output. Subsequently, quality management software has emerged among the integral components for different manufacturing and healthcare industry verticals.
The most significant factor fueling the quality management software market growth is their superior benefits over conventional manual management of processes. Quality management system comprises various solutions such as document management, audit management, change control, complaint management, environment, health and safety management, to name a few. Implementing these solutions enables organizations improving their overall processes and hence deliver high quality products. Since quality management software streamlines the entire business processes, it helps in minimizing losses thereby reducing overall manufacturing/services costs.
The global ASIC market is segmented on the basis of solution type, deployment model, industry vertical and geographical regions. Based on the solution types, the market is segmented into document management, audit management, supplier quality management, education & training, compliance management, corrective & preventive action (CAPA), customer management, complaint management, environment, health and safety management and others.
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On the basis of deployment model, the market is categorized into on-premise and hosted QMS. As of 2016, the market is led by the on-premise QMS segment, contributing to nearly sixty percent of the total market revenue. Geographically, the market is classified into North America, Europe, Asia Pacific and Rest of the World. Pilgrim Quality Solutions, Inc., Sparta Systems, Inc., IQS, Inc., MasterControl, Inc., MetricStream, Inc., SAP SE, Plex Systems, Inc., Arena Solutions, Inc., Intelex Technologies, Inc., QUMAS, General Electric Company, IQMS, Inc., AssurX, Inc. and others.
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