Vendors operating in the global quality and compliance management solutions market are fully leveraging technological advances in mobile applications and information technology systems by incorporating mobility in their solutions. One of the primary objectives of adding mobile capabilities to quality and compliance management solutions is to augment the end user experience and operational efficiency of the business.
Another trend gaining traction in the quality and compliance management systems market is data analytics, with market participants using the compliance benefits of data visibility in enterprise risk management.
In the worldwide market for quality and compliance management systems, key companies are focusing on delivering upgraded solutions. As a consequence, Future Market Insights expects the worldwide quality and compliance management systems market to increase significantly in revenue.
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The global market for quality and compliance management solutions is projected to reach a valuation in excess of US$ 38 Bn by the end of 2028, up from an estimated US$ 14 Bn by the close of 2022. A growth rate of 8.6% during the period 2022 – 2028 is the result of growing adoption of cloud-based quality management solutions.
The market is also witnessing increasing demand owing to advanced features such as a strong system framework and real-time data tracking.
Opportunity Analysis of the Global Quality and Compliance Management Solutions Market Reveals a Strategic Shift from Manual Systems to Integrated Solutions
Global enterprises are fast moving from manual systems towards integrated solutions that come with the capability to comprehensively manage all data and quality-related processes. Fully configurable quality management solutions are securely integrated with enterprise legacy systems and facilitate product quality enhancement right from concept through obsolescence within a closed loop corrective action environment.
These solutions provide increased visibility into quality and compliance activities with enhanced connectivity to build collaboration between multiple functions. This is creating lucrative growth opportunities for providers in the global quality and compliance management solutions market.
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Key Segments Covered in QMS Industry Research
QMS Market by Module
- Document and Product Management
- Quality Management
- Change Management
- Audit Management
- Governance and Compliance Management
- Supplier Management
QMS Market by Component
- QMS Software
- QMS Services
QMS Market by Company Size
- Large Enterprises
- Small and Medium Enterprises
QMS Market by Implementation Model
- On-premise QMS
- Cloud QMS
QMS Market by Industry
- QMS for Aerospace & Defense
- QMS for Automotive
- QMS for Consumer Goods and Retail
- QMS for Healthcare
- QMS for ITES & Telecom
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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