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Mar 28, 2022, 07:45 ET
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NEW YORK, March 28, 2022 /PRNewswire/ — The global quality management software market size is expected to increase by USD 5.21 billion between 2021 and 2026, expanding at a CAGR of 9.80% during the forecast period. The report provides a comprehensive analysis of market size, the factors that will be influencing the growth market, and other important statistics.
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The market is driven by the increasing adoption of cloud-based quality management software offerings. The flexibility and cost benefits offered by cloud-based solutions are increasing the adoption of cloud computing among enterprises. They help enterprises reduce their overall capital expenditure while adopting the latest technologies. Cloud-based solutions also enable organizations to scale up their workload when required, thereby eliminating the need for the construction of new data centers that requires a lot of capital as well as operational expenditure. Furthermore, the implementation of cloud-based quality management software can be implemented within a short period of time when compared with on-premises quality management software. Many such factors are contributing to the growth of the global quality management software market.
As per Technavio, the threat from open-source quality management software providers will have a negative impact on the market over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2022-2026.
Quality Management Software Market: Challenges
The market has a lot of open-source vendors that offer a wide range of quality management software tools and applications for free. This is making end-users in the market opt for open-source solutions than investing in products offered by major vendors. For example, the availability of open-source software such as FlinkISO and Odoo allows enterprises to use the quality management functionality for free. Moreover, many small-scale enterprises, especially in developing countries such as China and India do not invest in expensive on-premise and cloud-based quality management solutions. All these factors are expected to reduce the growth opportunities for market players during the forecast period.
Learn more about the drivers, trends, and challenges impacting the future of market growth.
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Quality Management Software Market: Segmentation Analysis
This market research report segments the quality management software market by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America).
By deployment, the on-premise segment generated maximum revenue in the market in 2021. The segment is driven by the high security offered by on-premise solutions.
The North American region led the quality management software market in 2021, followed by Europe, APAC, MEA, and South America respectively. However, during the forecast period, Europe is expected to register the highest incremental growth. Also, the market will observe faster growth in Europe through 2026.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Quality Management Software Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 9.80%
Market growth 2022-2026
USD 5.21 billion
Market structure
Fragmented
YoY growth (%)
8.96
Regional analysis
North America, Europe, APAC, MEA, and South America
Performing market contribution
Europe at 31%
Key consumer countries
US, China, UK, Germany, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Aras Corp., Dassault Systemes SE, Hewlett Packard Enterprise Co., MasterControl Inc., Microsoft Corp., Oracle Corp., Parasoft Corp., PSC Software, SAP SE, and Siemens AG
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Deployment
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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