NEW YORK, Jan. 18, 2017 /PRNewswire/ -- 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 modules (e.g. document and product data management, quality management, change management, audit management, governance & compliance management, supplier management etc.)
In 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. By module, government and compliance management is expected to dominate the market during the forecast period. 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).
QCMS helps manufacturers to survive in a highly competitive environment and increase productivity
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. Various regional health authorities across the globe are increasingly implementing region-specific standards, which adds additional cost and complexities for global manufacturers to operate across geographies.
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. Most small and medium level manufacturing organisations face affordability issues to deploy quality and compliance management solutions, and hence are forced to opt for manual processes over automated ones.
- Document and Product Data Management
- Quality Management
- Change Management
- Audit Management
- Governance and Compliance Management
- Supplier Management
- Aerospace and Defence
- Consumer Goods and Retail
- Healthcare and Life Sciences
- ITES and Telecom
- Other industries
By Implementation model
- Cloud based
By Company Size
- Large Enterprises
- Medium Enterprises
- Small Enterprises
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
The healthcare and life science segment is anticipated to register the highest CAGR during the forecast period
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.
The on-premise segment of QCMS is expected to remain dominant during the forecast period
On the basis of implementation model, the global quality and compliance management solution market is segmented into on-premise and cloud based. The on-premise segment was the dominant segment in 2015 and expected to register a significant CAGR during the forecast period.
The small enterprise segment is forecasted to register the highest CAGR during the forecast period
On the basis of company size, the global quality and compliance management solution market is segmented into large enterprises, medium enterprises, and small enterprises. The small enterprise is anticipated to register the highest CAGR during the forecast period.
North America is projected to register a robust growth in the global QCMS market
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.
Key market players in the global QCMS market
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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