Managed Equipment Services (MES) & Enterprise Compliance and Quality Management (ECQM) Market Forecasts to 2028 – Global Analysis By Deployment (Cloud Based, On Premises and Other Deployments), Service (Single Vendor Service, Multi Vendor Service and Othe

Managed Equipment Services (MES) & Enterprise Compliance and Quality Management (ECQM) Market Forecasts to 2028 – Global Analysis By Deployment (Cloud Based, On Premises and Other Deployments), Service (Single Vendor Service, Multi Vendor Service and Other Services), Application (Healthcare Organizations, Automotive, Electronics, Aerospace and Other Applications) and By Geography

According to Stratistics MRC, the Global Managed Equipment Services (MES) & Enterprise Compliance and Quality Management (ECQM) Market is accounted for $610.46 million in 2022 and is expected to reach $1069.72 million by 2028 growing at a CAGR of 9.7% during the forecast period. MES and ECQM are the software and systems that deal with data streamlining in enterprises. These systems are used through convergence, automation and collaboration to define and eliminate high risk events. Most of the ECQM program targets FDA enforcement in the healthcare sector to provide information whenever appropriate at the correct locations. The software also performs risk analysis across all value chains along with a pattern analysis that is necessary to avoid potential issues with quality and compliance. They maintain the highest quality standards. They are applied in medical devices, pharmaceuticals and research industries.

Market Dynamics:

Driver:

Flexibility and security

MES and ECQM are manufactured to ramp up the production quickly and easily. Storing all company data on a cloud server can result in security concerns. MES builds security into each layer – the network, operating systems, applications, people and allow companies to manage and configure IT environments where they have security across all layers. It also facilitates data integrity and accessibility which is fuelling the market demand.

Restraint:

Low awareness

The low awareness and reluctance of these software and service programs are restraining the market demand. Less knowledge about this software made the data collection and reporting measures a big burden. Consumers are lacking to track the quality of services. This aspect is making the work load heavy and hindering the market growth.

Opportunity:

Hybrid systems

The new hybrid systems are significantly reducing ambient costs for manufacturers. This factor is increasing energy costs and the software’s assistance. It provided quick outcomes, unique features, assurance, quality measurement and services. The applications are validated with quality standards. They avails recovery plan to maintain integrity. All these factors are propelling the market growth.

Threat:

Operational risks

All the applicants of this software have the large volumes of data from medical research, patient medical history and other areas. Sometimes, the software doesn’t work as planned. It may be either due to improper implementation or lack of hardware and training. It causes a huge threat to data loss and thus hampering the growth of the market.

Covid-19 Impact

The COVID-19 has been recognized as a trigger for redefining supply chains at the global level and has created an intense debate. The pandemic has put the MES segment front of mind, with unparalleled demand. The companies initially focused on the immediate crisis response. In the pandemic-recovery phase, executing clinical trials has become a challenge. It bought an opportunity to reform the healthcare delivery from both system and industry perspectives.

The cloud segment is expected to be the largest during the forecast period

The cloud segment is estimated to have a lucrative growth, due to its modern solutions. MES provides the foundation for operations to schedule, manage and track each step during production. It provides real-time actionable data and helps businesses to monitor supply chains and form integrated strategies. The factors like accessibility, flexibility, scalability, security and lower cost in cloud based MES are propelling the market growth.

The healthcare segment is expected to have the highest CAGR during the forecast period

The healthcare segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the adoption of high-tech medical devices. Manufacturers have found it gradually more difficult to expand due to vast numbers of data from medical research, patient medical history and other sectors such as clinical trials and biotechnology. But MES and ECQM industries made constant innovation and development of modern medical equipment which resulted to witness huge market growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the increased healthcare organizations. The region is mainly backed by having stringent regulations on healthcare facilities as well as organizations. Healthcare organizations and facilities across the region have strong penetration of MES solutions. The region has the presence of the two major companies in the world which are fuelling the market share.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising software manufacturers. The market for MES started growing as the software manufacturers drastically reduced ambient costs due to rising energy expenses in this region. Family-held private healthcare business sectors and the surge in penetration of smart phones and digitalizing the infrastructure are also the main aspects that fuelled the market growth in this region.

Key players in the market

Some of the key players profiled in the Managed Equipment Services (MES) & Enterprise Compliance and Quality Management (ECQM) Market include Philips Healthcare, Canon Medical, Siemens, BCAS Biomed, MES Group, GE Healthcare, Syniverse, Althea Group, Invensys, Medi pass Healthcare, Toshiba, MasterControl Inc, Medisolv Inc, Arena Solutions Inc, Assurx Inc, Sparta Systems, Pilgrim Software, SAP SE, Infosys, ETQ

Key Developments:

In April 2022, Medisolv, Inc., a leader in quality management software, announced their Top Inpatient ECQM. It generates performers list using performance data that Medisolv electronically harvests directly from approximately 200 of their hospital clients.

In February 2022, Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM) applications, today announced that it has partnered with xLM Solutions, a PLM services and solutions provider, to release an automated integration between Arena PLM and SOLIDWORKS PDM Professional. With this integration, companies gain a seamless process flow of product data from SOLIDWORKS PDM.

Deployments Covered:
• Cloud Based
• On Premises
• Other Deployments

Services Covered:
• Single Vendor Service
• Multi Vendor Service
• Other Services

Applications Covered:
• Healthcare Organizations
• Automotive
• Electronics
• Aerospace
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements