Quality Management Market Top Companies to Watch Out: IQS Enterprise Quality Management and Compliance Software, MasterControl, EtQ, Intelex Technologies

Quality is an important aspect of any product throughout its lifecycle. Manufacturers tend to avoid and minimize risk and cost associated with poor quality due to errors in manufacturing processes and related operations. Thus, quality management software is an integral and an important part of an organization. The solutions comprises managing quality of the product and product-related processes. This helps in reducing cost incurred in rectifying errors and curtail downtime, thereby reducing overall time to market. Global Quality Management market is estimated to be valued at US$ 13,833.2 Mn in 2018 and is expected to witness a CAGR of 12.9% over the forecast period (2018-2023)

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Market Dynamics

Governments of various countries have implemented various standards and regulations for product quality and this is one of the major factors increasing demand for quality management software in various verticals such as healthcare, automotive, telecommunication, and consumer goods. International Organization for Standardization, BSI Group, Food and Drug Administration, and Food Safety and Standards Authority of India are some of the government or non-profit organizations, which have set standards for product quality.

North America accounted for the highest market share in 2016

Quality management market in North America held the dominant position in 2016 and is expected to retain its dominance over the forecast period. The quality management market in this region is projected to reach US$ 8,489.93 million by 2023. North America has well established advanced technological infrastructure in terms of manufacturing and information technology services. According to National Association of Manufacturers of the U.S., North America is the largest manufacturer in the world contributing around 18.2% of the total goods manufactured globally in 2016.

Asia Pacific quality management market is projected to exhibit the highest CAGR of 13.2% during the forecast period. The manufacturing sector has to keep up with the growing demand for products and services. Therefore, smart technology incorporated manufacturing will help companies in this region to increase their productivity. This is expected to propel growth of the manufacturing sector in the region. This increase in manufacturing facilities is expected to aid in growth of the quality management software market in the region over the forecast period.

Quality Management Market: Competitive Landscape

Major players operating in the global quality managements market include IQS Enterprise Quality Management and Compliance Software, MasterControl, Inc., EtQ, Intelex Technologies, Pilgrim Quality Solution, MetricStream Inc., Sparta Systems, Inc., SAP SE, Arena Solutions Inc., Autodesk Inc., Oracle Corporation, Aras, AssurX, Inc., Plex Systems, Inc., IQMS, Inc., Unipoint Software, Inc., Ideagen Plc, Dassault Système SE, Siemens AG, and Micro Focus.

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Detailed Segmentation:

• Global Quality Management Market, By Type:

o Non-Conformances/ Corrective and Preventive
o Audit Management
o Quality Management
o Supplier Management
o Change Management
o Others

• Global Quality Management Market, By Application:

o IT & Telecommunications
o Manufacturing
o Healthcare
o Others

• Global Quality Management Market, By Deployment:

o Cloud-Based
o On-Premise

• Global Quality Management Market, By Geography:

o North America
o Europe
o Asia Pacific
o SAMEA (South America, Middle East and Africa)

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This release was published on openPR.