Press release
QCMS helps manufacturers to survive in a highly competitive environment and increase productivity
Quality and compliance management system ensures users that their products or services comply with industry’s standards/regulations. Quality and compliance management solutions are available in a set of interrelated modulesIn this report the quality management (QMS) applications market is segmented on the basis of module, industry, implementation model, company size and region. The modules of quality and compliance management solutions includes document & product data management, quality management, change management, audit management, governance & compliance management, and supplier management.
The global quality and compliance management solution market was valued at US$ 10.8 Bn in 2015 and is expected to expand at a CAGR of 11.0% during the forecast period (2016–2026).
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Seamless integration with existing enterprise systems/platforms which boosts expansion, increasing regulatory complexity in life sciences industry, and need for efficiency and cost saving solutions are the key factors driving the growth of the quality and compliance management solution market globally.
Effectively managing and fulfilling all these regulatory requirements help manufacturers to survive in a highly competitive environment. Hence, manufacturers in life sciences industry find these quality and compliance software a suitable option to reduce risk of losing market share, which results in increasing demand for QMS solutions in life science industry.
High cost of quality and compliance management solution is the main factor affecting the adoption rate among SMEs across the globe.
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On the basis of industry, the global quality and compliance management solution market is segmented into aerospace & defence, automotive, consumer goods and retail, healthcare & life science, ITES & telecom, and other Industries. In 2015, the healthcare & life science segment held approximately 70% of overall quality and compliance management solution market and is anticipated to register the highest CAGR during the forecast period.
Among all the regions, North America was the largest market for global quality and compliance management solution market valued at 4.4 Bn in 2015 and is expected to register a double digit growth during the forecast period.
Some of the prominent players identified across the globe are Pilgrim Quality Solutions, MasterControl, Inc., Aras, Arena Solutions, Inc., EtQ, IQS, Inc., Oracle, SAP, Sparta Systems, Inc., and others. These prominent players are following highly individualised and custom made strategies to increase their foothold in the global QCMS market.
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