A three-pronged approach was followed for deducing the quality management software market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for quality management software market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of quality management software market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The quality management software market was categorized into five segments, namely solution (Document Control, Non-conformances/Corrective & Preventative, Complaint Handling, Employee Training, Quality Inspections, Audit Management, Supplier Quality Management, Calibration Management, Change Management, Mobile Incidents and Event Reporting), deployment (Cloud, On-premise), enterprise size (Small & Medium Enterprise, Large Enterprise), end-use (IT & Telecom, Life Sciences, Transportation & Logistics, Consumer Goods & Retail, Food & Beverage, Defense & Aerospace, Manufacturing & Heavy Industry, Utilities, Government, Healthcare), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The quality management software market was segmented into solution, deployment, enterprise size, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The quality management software market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Germany; the UK; Spain; France; Italy; Japan; China; India; South Korea; Australia; Brazil; Mexico; Argentina; South Africa; UAE; Saudi Arabia.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The quality management software market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Sparta Systems Inc. - Sparta Systems Inc. is a company that specializes in providing a comprehensive suite of both on-premises and web-based software solutions for managing quality and compliance issues. Their product portfolio includes a wide range of software solutions such as quality management, audit management, GMP software, enterprise quality management, food quality control, and quality assurance software, among others. The company serves a diverse range of industries including pharmaceuticals, medical devices, biotechnology, food and beverage, consumer products, discrete manufacturing, and other highly regulated sectors. Notable clients of Sparta Systems Inc. include Procter & Gamble, Briggs & Stratton, and U.S. government agencies like NASA and the National Cancer Institute. With a global presence, the company has offices in various locations including Singapore, the UK, Israel, Hong Kong, Austria, and the U.S. In a significant development in December 2020, Honeywell International Inc., a company known for its industry-specific solutions for automotive and aerospace products, agreed to acquire Sparta Systems Inc. This acquisition is aimed at enhancing Honeywell’s software and life science capabilities, and further bolstering its expertise in digital transformation solutions, industrial automation, and enterprise performance management software.
MasterControl, Inc. - MasterControl, Inc. is a company that specializes in offering software and service solutions for managing all aspects of quality processes. This includes audits and observation, change control, risks and mitigations, suppliers and supplied material, products and design, quality events and CAPA, and document and records management. Their suite of solutions encompasses quality management, compliance management, enterprise management, change management, project management, training management, and bill of materials, among others. These solutions cater to a variety of industries such as consumer electronics, life sciences, clean technology, and consumer products. MasterControl, Inc.'s software for content and document management assists companies in overseeing the quality of their electronic content. Their web-based software suite includes applications designed for tracking changes to electronic content, generating forms and PDF documents, and managing documents related to organizational training.
SAP SE - SAP SE is a global provider of enterprise application software and services, offering solutions in applications, mobility, and analytics. The company operates through several segments, including Applications, Technology & Services, and SAP Business Network, providing software licenses, cloud application subscriptions, and related services. SAP SE’s solutions cater to various sectors and cover areas like product lifecycle management, customer relationship management, and supply chain management, among others. With a presence in approximately 130 countries, SAP SE collaborates with over 17,000 partner companies and maintains around 100 innovation and development centers. Their R&D facilities, SAP Labs, are strategically located worldwide and work on the development and enhancement of SAP’s core products. The SAP Labs Network (SLN) manages regional labs, shares best business practices, and coordinates development projects to expedite product development and delivery. Industries such as chemical, oil & gas, automotive, airlines, healthcare, sports & entertainment, and the public sector are among the adopters of SAP SE’s products.
Arena Solutions, Inc. - Arena Solutions, Inc. is a firm that offers software solutions for product lifecycle management and supply chains for businesses in the engineering and manufacturing sectors. The company’s offerings are cloud-based, scalable, and centralized. It operates primarily in three segments: product lifecycle management, integration, and supply chain. Its range of solutions includes quality management, compliance management, enterprise management, change management, project management, and bill of materials, among others. Arena Solutions, Inc. serves a variety of industries such as consumer electronics, life sciences, clean technology, and consumer products. The company’s comprehensive quality management system enhances the handling of Design History Files (DHFs), Device Master Records (DMRs), and Standard Operating Procedures (SOPs), simplifying compliance and reducing audit risks. Its product lineup includes PartsList and PDXViewer applications for prototype engineering and development, as well as BOMControl for production management.
Plex Systems, Inc. (Rockwell Automation) - Plex Systems, Inc. is a company that provides cloud-based ERP solutions. It offers solutions for business management and manufacturing operations to a range of industries, including automotive, aerospace & defense, food & beverage, and precision metal forming & fabrication manufacturing. Plex Systems was acquired by Rockwell Automation in June 2021. The company began its automotive metal-forming business in 2001 and later broadened its scope to support discrete manufacturing operations. It also initiated a process manufacturing business specifically designed for food & beverage manufacturers. Plex Systems serves over 650 organizations and operates more than 2,000 facilities in 37 countries worldwide. The company provides enhanced quality, standard compliance, and supplier quality through its quality management software modules. Its quality control plan and compliance documentation features assist companies in obtaining and maintaining quality certifications such as ISO, TS, and QS.
Cority Software Inc. - Cority Software Inc., a privately owned provider of EHSQ software, was previously known as Medgate, Inc. before rebranding in June 2017. The company aids organizations in leveraging health, environmental, safety, and quality software to boost sustainability and achieve operational excellence. It provides a comprehensive and secure SaaS platform. The company serves over 1,300 clients in more than 100 countries, supporting millions of end users. Cority Software Inc. offers a variety of software solutions, including enterprise EHSQ software, mid-market software, and industrial solutions, to broaden its product range and enhance its business. Its QMS clientele includes Delta Faucet, Boeing Company, FDA, and Volvo. The company has offices in the UAE, UK, France, U.S., Germany, Australia, and China.
Enablon (Wolters Kluwer N.V.) - Enablon, a software provider based in Europe, specializes in the environment, health & safety, risk management, and sustainability sectors. In 2018, Wolters Kluwer Legal & Regulatory acquired the company for USD 284 million to broaden its legal and compliance software offerings. Enablon serves over 1,000 global companies and its software is utilized by more than 1 million users. The company provides a wide range of products that assist in EHS compliance, enterprise risk management, air quality management, audit and compliance, product stewardship, incident and event management, and greenhouse gas management, among others. Enablon’s solutions find application in various industries, including oil and gas, automotive, chemical, healthcare and pharmaceuticals, food & beverage, and mining.
QT9 Software - QT9 Software offers quality management, quality integration, and manufacturing management software to various end users in North America. The company’s QT9 Quality Management Software is a comprehensive ISO 9001 software solution that automates any AS 9100, ISO 9001, BRC, ISO 17025, ISO 13485, ISO 14001, HACCP, IATF 16949, SQF, and FDA-regulated quality systems. QT9 Software’s products are used by industries such as healthcare, aerospace, automotive, food & beverages, and pharmaceuticals. The company also provides cloud-based subscription services and customer-hosted services.
Biovia Corp. (Dassault Systemes SE) - Biovia Corp. is a software solutions provider that offers quality management software with enhanced support, quality content, policies, and procedures along with comprehensive document and process management capabilities. In 2014, Dassault Systemes SE acquired Accelrys Company to enhance its product portfolio. Accelrys Company was later rebranded as Biovia Corp. Biovia Corp.’s solutions are utilized by around 2,000 companies operating in various industries such as pharmaceuticals, chemicals, and oil & gas. Its solutions are designed to enable compliance with 21 CFR Part 11. The company operates in three major domains, namely Biologics, Quality, and Formulations. BIOVIA solutions include BIOVIA Workbook, BIOVIA Notebook, BIOVIA LES, BIOVIA LIMS, and BIOVIA Discoverant.
IQMS (DELMIAworks) - IQMS provides enterprise solutions for various industries, including automotive, medical, and plastic. The company’s flagship ERP solution is EnterpriseIQ, which is complemented by other software solutions such as quality control, customer relationship management, manufacturing, production monitoring, and e-business solutions. IQMS offers quality management software solutions to help manufacturing companies control and comply with stringent quality standards. The company caters to various manufacturing industries, including automotive, medical, food and beverages, aerospace & defense, plastics, stamping & metal, and packaging industries. IQMS offers complete functionality in a scalable solution to manufacturers, enabling them to effectively respond to customer demands. The company has offices located in North America, Europe, and Asia Pacific, which cater to various manufacturing industries around the world. It also provides additional services such as modifications of custom software, computer software design and analysis, and training on the use of custom software. In December 2018, IQMS was acquired by Dassault Systèmes, which enabled the latter to extend its 3DEXPERIENCE platform to small and mid-sized manufacturing companies focusing on the digital transformation of their business operations.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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