Regulations and Evolving Markets Drive Growth in the Quality Management Software Industry

Regulations and Evolving Markets Drive Growth in the Quality Management Software Industry

As the QMS Systems market grows at a vertiginous pace, Frost & Sullivan provides a thorough, in-depth analysis of the dynamics shaping the industry to companies seeking entry as well as those who have already joined the fray.

Quality applies to the entire product life cycle. It has implications across the entire enterprise value chain, so there is an increasing awareness and adoption of modern QMS systems among SMBs and startups. This, along with the adoption of further technological advancements and venture capital investments in life sciences, drive the QMS systems market.

This Frost & Sullivan report examines the major trends shaping the market, including:
- Application of AI, ML, and digital technologies.
- The transition from reactive to proactive quality management.
- Use of a unified, platform-centric approach.
- Cloud deployments.
- Going beyond quality management to environment, health and safety, and product design functions.

According to Frost & Sullivan research, pharmaceutical, medical devices, and biotech held the largest share of the market. From a regional standpoint, APAC is expected to grow the fastest, while North America dominates the QMS systems market. Supplier quality management (SQM) is expected to grow the fastest among the various product types, driven by ever more frequent supply chain disruptions. One of the major success factors is the ability to serve customers of all sizes (small, medium, and large enterprises) and from different industries and geographies. As a point of interest, major acquisitions include: ETQ acquired by Hexagon; Sparta Systems acquired by Honeywell; Pilgrim acquired by IQVIA and Arena acquired by PTC.

This research will lead businesses toward implementing the trends that will most certainly boost growth in the QMS systems industry.