Westford,USA, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Quality Management Software Market is becoming increasingly important as businesses strive to ensure products and services are of the highest quality. There are a variety of different types of quality management software available, and each has its own strengths and weaknesses. Some quality management software platforms can help companies track the quality of products throughout the entire production process, from design to delivery. Other quality management software platforms are geared more towards specific areas such as compliance or QA testing.
Regardless of the type of quality management software used, there are a number of key factors that need to be taken into account when setting up the platform, including employee training and coordination, product specification and validation, and measurement and evaluation. It is important for businesses to find the right platform for their needs in order to achieve optimal results.
Many businesses in the global Quality management software market choose to invest in quality management software in order to streamline their process and achieve higher levels of efficiency and quality outcomes. When implemented correctly, such an investment can provide long-term benefits for both the business and its customers.
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SkyQuest’s Analysis and Findings
SkyQuest’s analysis of the global quality management software market shows that a majority of organizations are using at least one type of commercially available QM software solution. Furthermore, over two-thirds (67%) of these organizations plan to use more QM software in the next 12 months.
Our analysts highlight four trends that will impact how organizations use QM software: an increase in regulatory compliance requirements, an increased focus on digital transformations, rising expectations from customers, and the need for faster response times to changes. These factors will drive continued adoption of reliable QM solutions by organizations.
In addition to examining customer needs, SkyQuest also looked at other features that determine the quality of a product or service in the global quality management software market: functionality, ease of use, robustness, reporting, and scalability. Functionality is important because it provides users with an intuitive experience when using the software. Ease of use is essential for those who want to start using the tool quickly without having to learn complex parameters or settings. Robustness ensures that the solution can handle unexpected disturbances or crashes without affecting users’ workflows. Reporting helps improve decision making and tracking progress over time so that corrective actions can be taken as needed. Scalability allows for larger deployments across disparate sites and Organizations.
One of the standout qualities of in the global quality management software market is their scalability. Not only do they accommodate a wide range of operations and sizes, but they also can be tailored according to the unique needs of an organization. In fact, one of the caveats associated with quality management software is its high cost; however, we found that this varies from solution to solution. The most expensive option offers more features than the least expensive options across all areas assessed.
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Recent Developments that have Shaped Quality Management Software Market
Global quality management software market has been steadily evolving over the past few years. Numerous advances in artificial intelligence (AI) and machine learning have led to more effective ways of tracking and managing quality across different stages of a product's life cycle.
Quantitative analytics tools can help identify quality defects early on, while predictive analytics tools can help manufacturers make informed decisions about future product design iterations. In addition, new Quality Function Deployment (QFD) approaches are helping companies better forecast customer satisfaction and performance through continuous diagnosis and optimization of quality processes. This data-driven approach uses simulation models to analyze process flows, feedback loops, variation levels, and other factors that influence quality outcomes.
Moreover, cloud-based solutions offer unparalleled convenience for both customers and producers by allowing for real-time monitoring of product states from anywhere in the global quality management software market. By automating recordkeeping and communication processes, these software platforms can help organizations achieve improved compliance with regulations such as ISO 9001: 2008 or 14001: 2004.
Today, quality management software is available in myriad forms and configurations, enabling companies of all sizes to find an adequate solution for their needs. Many quality management solutions rely on automation tools, such as Process Creations' Quality Master Workflow Automation Suite (QMAS), which allows companies to automate processes and achieve better quality control.
Growing Dominance of Microsoft and Oracle in Quality Management Software
According to a study by research firm SkyQuest Technology, Oracle and Microsoft hold a growing dominance over quality management software market. The study found that in 2021 Oracle's market share in this area was 17%, while Microsoft held 18%. However, our study predicts that by 2028 Oracle's market share will have increased to 20%, while Microsoft's will have fallen to 15%.
The reasons for the growth of Oracle and Microsoft are manifold. Firstly, both companies make excellent quality management software. Secondly, they have invested in their products heavily, with frequent releases and regular updates. Thirdly, they have created strong ecosystems around their products - Oracle has a strong presence in ERP systems, while Microsoft has a strong presence in business intelligence (BI) tools.
Finally, both companies in the quality management software market are aggressively targeting new markets: Oracle is targeting mid-sized businesses, while Microsoft is targeting larger enterprises. However, there are some areas where Oracle is ahead of Microsoft. For example, Oracle’s product portfolio includes integrated quality management solutions that span across multiple industries such as health care and manufacturing. This gives customers more holistic solutions for managing their quality processes across different domains.
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Top Players in Global Quality Management Software Market
- Arena Solutions, Inc. (US)
- Biovia Corp (Dassault Systemes SE) (US)
- Cority Software Inc. (Canada)
- Dassault Systemes SE (France)
- Enablon (Wolters Kluwer N.V.) (France)
- EtQ Management Consultants, Inc. (US)
- Iqms, Inc. (US)
- MasterControl, Inc. (US)
- MetricStream, Inc. (US)
- Microsoft Corporation (US)
- Oracle Corporation (US)
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