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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Quality and compliance management system ensures users that their services or products comply with the industry’s regulations. Quality and compliance management solution is available in a group of interrelated modules such as quality management, document, and product data, change management, audit management, supplier management, etc. Furthermore, quality management software systems aid organizations, in order to interconnect all the departments, which is important for regulated or ISO-compliant organizations. In this, employees from concerning departments can provide their feedback thereby removing the communication gap across organizations and help to increase efficiency and accuracy of the production process.

The global quality and compliance management solution market is estimated to be valued at US$ 20,728.5 Million in 2021 and is expected to exhibit a CAGR of 9.9% over the forecast period (2021-2028).

Recent Developments:

  • Key companies in the market are focused on product launches, in order to gain a competitive edge in the market. For instance, in May 2017, Pilgrim Quality Solutions launched its latest versions of key solutions within its SmartSolve platform.
  • Major market players are involved in product development, in order to enhance the market presence. For instance, in April 2017, Sparta Systems introduced TrackWise, the latest version of its leading quality management software.

North America held dominant position in the global quality and compliance management solution market in 2020, accounting for 42.7% share in terms of volume, followed by Western Europe and APEJ, respectively.

Figure 1. Global Quality and Compliance Management Solution Market Value (US$ Mn), by Region, 2020

Quality and Compliance Management Solution  | Coherent Market Insights

Global Quality and Compliance Management Solution Market - Drivers

Seamless integration with existing enterprise systems is expected to drive growth of the global quality and compliance management solution market during the forecast period. Most key players in the global quality and compliance management solution market offer quality and compliance management solutions that can be incorporated with other MES, ERM, and PLM platforms of the enterprises. This feature provides organizations numerous options since they are not bound to use the same brand’s quality and compliance solution. For instance, in September 2016, Aras launched “Manufacturing Process Planning (MPP) Application”, a product lifecycle management (PLM) platform-based application for manufacturing process planning, with the objective to cater to growing demand for process planning from the manufacturing sector.

Rising need for cost-saving and efficiency solutions is expected to propel the global quality and compliance management solution market growth. Various manufacturers are looking for solutions that can help them to increase their efficiency and minimize manufacturing costs. Quality and compliance management solutions is a major tool, which fulfills this requirement and increasing demand for these solutions.

Market Opportunities

Growing interest in mobility in quality management can present lucrative growth opportunities. Quality management software vendors are focusing on leveraging various technological advancements in mobile applications and information systems, by including mobile capabilities to enhance the operational efficiency and user experience of their quality management solutions. For instance, in October 2015, Pilgrim Quality Solutions introduced a mobile audit application with offline capability namely “SmartSolve Mobile Audit. This mobile app enables auditors to conduct audits of remote manufacturing plants or laboratories on their smart hand-held devices from anywhere.

Constant adoption of cloud-based quality management solutions can provide major business opportunities. Adoption of cloud-based quality and compliance management solutions is a new trend in the QMS market. Cloud-based quality management solutions help companies to reduce their infrastructure and resources (IT personnel) costs, while at the same time allowing them access to all features as offered by on premise software. Various vendors such as Pilgrim Quality Solutions Sparta Systems, Inc. and others that have been providing cloud-based quality and compliance management solutions in the global market for over a decade have witnessed significant growth in terms of demand for cloud-based solutions in the recent past.

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Quality and Compliance Management Solution Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 20,728.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 9.9% 2028 Value Projection: US$ 40,215.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Mexico and Rest of Latin America
  • Eastern Europe: Russia, Poland and Rest of East Europe
  • Western Europe: Germany, U.K., France, Spain, Italy, Rest of Western Europe
  • APEJ: China, India, Australia and New Zealand and Rest of APEJ
  • Japan
  • MEA: GCC, South Africa, North Africa and Rest of MEA
Segments covered:
  • By Modules: Document & Product Data Management, Quality Management, Change Management, Audit Management, Governance  & Compliance Management, Supplier Management
  • By Industry: Aerospace & Defence, Automotive, Consumer Goods and Retail, Healthcare & Life Science, ITES & Telecom, Other Industries
  • By Implementation Model: On-Premises, Cloud Based
  • By Company Size: Large Enterprise, Medium Enterprise, Small Enterprise
Companies covered:

Pilgrim Quality Solutions, Sparta Systems, Inc., MasterControl, Inc., SAP, Aras, Oracle, Arena Solutions, Inc., IQS, Inc., and EtQ 

Growth Drivers:
  • Seamless integration with existing enterprise systems 
  • Rising need for cost-saving and efficiency solutions
Restraints & Challenges:
  • Varying structure of regulatory policies

Market Trends

North America holds the dominant position in the global life sciences industry and thus, there is a high competition among top life sciences industry players across the region. As a result of this, players are competing across the region, in order to enhance the ability to deliver new and advanced products in the market without time-to-market being impacted by regulatory compliance, which in turn encourages them to deploy automatic quality and compliance management solutions. Furthermore, these solutions help providers to ensure their products meet client expectations and comply with industry regulations.

Enterprises in Europe have increased their QMS adoption rate in the recent past since quality and compliance management solutions facilitate companies to increase their efficiency while minimizing time-to-market and reduce production costs. Furthermore, safety enhancement, production processes, regulatory compliance, and design innovation are a major foundation for the expansion of advanced management solutions in Europe. Rising competition and requirements for innovation are shaping the dynamics of the European quality and compliance management solution market.

Figure 2. Global Quality and Compliance Management Market Share, By Modules, 2020

Quality and Compliance Management Solution  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Governance & Compliance Management segment was valued US$ 5,677.7 Mn in 2020 and is expected to witness a CAGR of 10.2% over the forecast period.
  • In 2020, the Audit Management is expected to grow at highest CAGR of 4% in the global quality and compliance management market and is expected to be valued US$ 6,153.0 Million by 2028. This is owing to growing adoption of the data analytics in the market, which is waving the quality, and compliance management solutions market as the market players are increasingly leveraging the compliance benefits and lowering risk in the management.

Market Dynamics- Restraints

High cost QMS solutions are expected to restrain growth of the global quality and compliance solution market during the forecast period. High cost of quality and compliance management solutions makes it unaffordable for small and medium-sized enterprises across the globe. Most small and medium level manufacturing organizations face affordability issues to deploy quality and compliance management solutions and hence are forced to opt for manual processes over automated ones.

Varying structure of regulatory policies is expected to hamper the global quality and compliance solution market growth over the forecast period. Regulatory policies regarding the adoption of QMS solutions are different, which in turn, increases the overall cost of the QMS system.

Competitive Section

Key players operating in the global quality and compliance management solution market are Pilgrim Quality Solutions, Sparta Systems, Inc., MasterControl, Inc., SAP, Aras, Oracle, Arena Solutions, Inc., IQS, Inc., and EtQ.

A quality management solution is a group of business processes aimed at improving their satisfaction and continually meeting client needs. It is usually aligned with the overall objective and strategic direction of an organization. Most quality management solutions are designed to make organizations meet their standards in both product development and customer satisfaction surveys. These processes work to make sure that customers are satisfied and that organizations are developing products and services that meet customer needs. By developing quality products, businesses can avoid wasting time and money and ultimately improve their bottom line.

Market Dynamics

Growing importance of custom-centric production and frequent changes in regulations is expected to boost the global quality and compliance management solution market growth over the forecast period. Many organizations have adopted quality and compliance management solutions due to rising importance of custom-centric production. Custom-centric production refers to taking customer feedback into consideration and focusing on quality to provide a greater customer experience. QMS providers an adequate framework for organizations to create and maintain customer relationships by understanding customers’ preferences and needs.

Furthermore, rising need for efficient and cost-saving solutions is expected to accelerate growth of the global quality and compliance management solution market in the near future.

Key features of the study:

  • This report provides in-depth analysis of the quality and compliance management solution market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global quality and compliance management solution market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Pilgrim Quality Solutions, Sparta Systems, Inc., MasterControl, Inc., SAP, Aras, Oracle, Arena Solutions, Inc., IQS, Inc., and EtQ.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global quality and compliance management solution market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global quality and compliance management solution market

Detailed Segmentation:

  • Global Quality and Compliance Management Solution Market, By Modules
    • Document & Product Data Management
    • Quality Management
    • Change Management
    • Audit Management
    • Governance & Compliance Management
    • Supplier Management
  • Global Quality and Compliance Management Solution Market, By Industry
    • Aerospace & Defence
    • Automotive
    • Consumer Goods and Retail
    • Healthcare & Life Science
    • ITES & Telecom
    • Other Industries
  • Global Quality and Compliance Management Solution Market, By Implementation Model
    • On-Premises
    • Cloud Based
  • Global Quality and Compliance Management Solution Market, By Company Size
    • Large Enterprise
    • Medium Enterprise
    • Small Enterprise
  • Global Quality and Compliance Management Solution Market, By Region:
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Eastern Europe
      • Russia
      • Poland
      • Rest of East Europe
    • Western Europe
      • Germany
      • K.
      • France
      • Spain
      • Italy
      • Rest of Western Europe
    • APEJ
      • China
      • India
      • Australia and New Zealand
      • Rest of APEJ
    • Japan
    • MEA
      • GCC
      • South Africa
      • North Africa
      • Rest of MEA
  • Company Profiles
    • Pilgrim Quality Solutions*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Sparta Systems, Inc.
    • MasterControl, Inc.
    • SAP
    • Aras
    • Oracle
    • Arena Solutions, Inc.
    • IQS, Inc.
    • EtQ

*Browse all the market data tables and figures on "Global Quality and Compliance Management Solution Market - Forecast to 2028”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Modules
      • Market Snippet, By Industry
      • Market Snippet, By Implementation Model
      • Market Snippet, By Company Size
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Quality and Compliance Management Solution Market, By Modules, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Document & Product Data Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Quality Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Change Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Audit Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Governance & Compliance Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Supplier Management
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  5. Global Quality and Compliance Management Solution Market, By Industry, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Aerospace & Defence
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Automotive
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Consumer Goods and Retail
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Healthcare & Life Science
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • ITES & Telecom
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Other Industries
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  6. Global Quality and Compliance Management Solution Market, By Implementation Model, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • On-Premises
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Cloud Based
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  7. Global Quality and Compliance Management Solution Market, By Company Size, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Large Enterprise
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Medium Enterprise
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Small Enterprise
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  8. Global Quality and Compliance Management Solution Market, By Region, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, By Country, 2020 and 2028 (%)
    • North America
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • U.S.
        • Canada
    • Latin America
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • Brazil
        • Mexico
        • Rest of Latin America
    • Eastern Europe
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • Russia
        • Poland
        • Rest of East Europe
    • Western Europe
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Rest of Western Europe
    • APEJ
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • China
        • India
        • Australia and New Zealand
        • Rest of APEJ
    • Japan
      • Market Overview and Country Trends
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
    • MEA
      • Market Overview
      • Market Size and Forecast, By Modules, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Industry, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Implementation Model, 2017–2028 (US$ Million)
      • Market Size and Forecast, By Company Size, 2017–2028 (US$ Million)
      • Country Trends
        • GCC
        • South Africa
        • North Africa
        • Rest of MEA
  9. Competitive Landscape
    • Company Profiles
      • Pilgrim Quality Solutions
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sparta Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • MasterControl, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SAP
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Aras
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Oracle
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Arena Solutions, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IQS, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • EtQ
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on “Global Quality and Compliance Management Solution Market-forecast to 2028”.

FAQgrowicon

Frequently Asked Questions

The global quality and compliance management solution market is estimated to be valued at US$ 20,728.5 Million in 2021 and is expected to exhibit a CAGR of 9.9% over the forecast period (2021-2028).
Seamless integration with existing enterprise systems is expected to drive growth of the market during the forecast period.
High cost QMS solutions are expected to restrain growth of the market during the forecast period.
Growing interest in mobility in quality management can present lucrative growth opportunities in the market.
The Healthcare & Life Science under industry segment held dominant position in the market and accounted for 68.1% share in the market in 2020.
Key players operating in the market are Pilgrim Quality Solutions, Sparta Systems, Inc., MasterControl, Inc., SAP, Aras, Oracle, Arena Solutions, Inc., IQS, Inc., and EtQ.
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