Latest News- Quality Management Software Market: IT and telecom is expected to lead the Application segment during 2025-2029

The Quality Management Software Market is being driven by Rise in adoption of cloud-based quality management software offerings

The Quality Management Software Market is expected to grow at a CAGR of 10.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7641.3 million. The shift towards Software-as-a-Service (SaaS) solutions for quality management software among enterprises and Small and Medium-sized Enterprises (SMEs) is on the rise. SaaS-based software offers faster and cost-effective implementation, as it does not necessitate any software installation. Instead, the software is maintained by the provider's data center, allowing users to access it via a subscription. Users pay a monthly fee per device under management, which encompasses maintenance costs and system upgrades. The adoption of SaaS-based quality management software among SMEs is projected to escalate due to its enhanced data security, scalability, and relatively lower upfront costs compared to traditional on-premises solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • IT and telecom
  • Transportation and logistics
  • Consumer goods and retail
  • Healthcare
  • Banking
• Deployment
  • On-premises
  • Cloud-based
• Sector
  • Large enterprises
  • SMEs
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in adoption of cloud-based quality management software offerings
• Rapid advances in technologies driving demand for scalable telecom management solutions
• Rising spending on IT technologies

However, the market also witnesses some limitations, which are as follows:

• Threat from open-source quality management software providers
• Network and connectivity issues
• Interoperability issue with quality management software

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Market Scope in Quality Management Software Market Research Report

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Research Analysis Overview

The Quality Management Software Market encompasses solutions that facilitate effective management of various quality-related aspects, including Data Management, Issue Tracking, and Reporting of Incidents. It also supports Risk Assessment, adherence to Quality Policy and Manual, implementation of Procedures, maintenance of Records, provision of Training, and attainment of Certifications. Best Practices and Improvement Programs are integral components, ensuring continuous enhancement and compliance.

Market Research Overview

The IT software market encompasses businesses specializing in the creation and distribution of application, system, and database management software. Technavio's market analysis focuses on application software companies, which develop and sell software for business and consumer use. This sector includes enterprise and technical software, as well as cloud-based solutions. Non-conformance management, risk management, audit management, and document control systems are integral components of application software, enhancing business efficiency and risk mitigation. The global application software market size is determined by the consolidated revenue of these companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/