Quality and Lifecycle Management Software Market research report by Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), Industry Vertical (Automotive & Transport, Healthcare & Manufacturing), By Geography Scope and Forecast 2024 to 2030
Quality and Lifecycle Management Software Market Outlook (2024 to 2030)
The Quality and Lifecycle Management software market is projected to grow at a 7.6% CAGR from 2024 to 2030, reaching a value of over USD 43.76 billion by 2030.
Product lifecycle management (PLM) software is a tool that manages a product’s lifecycle from conception to retirement, including idea generation, design, manufacturing, distribution, and end-of-life management. It streamlines the development process, reduces time-to-market, and improves product quality. PLM provides a centralized data source for all product-related information, enabling organizations to gain a competitive edge, increased productivity, and cost savings. The global market is expanding due to factors such as globalisation, product complexity, technological advancements, regulatory compliance, and the integration of advanced technologies like AI, big data, and IoT. This necessitates a centralized system for product information and collaboration, as businesses expand internationally. The market is also influenced by the growing complexity of products, requiring advanced management techniques and strong PLM systems for data management and intelligent analytics.
Segment Analysis:
Here’s a segmentation analysis of the lifecycle management and quality software market:
Quality Management Software (QMS ): Description: QMS focuses on managing and improving the quality of products, processes and services. It offers features like document control as well as corrective and preventive measures (CAPA) and audit management, as well as risk management. Relevance: Essential for industries that require strict quality standards, like healthcare, manufacturing, and aerospace.
Production Lifecycle Management (PLM ): Description The software for PLM manages the entire lifecycle of products starting from concept and design to manufacturing, maintenance and even disposal. It allows collaboration between teams with different functions. Relevance: Crucial for industries like aerospace, automotive and consumer products, where efficient product development is crucial.
Environmental, Health, and Safety (EHS) Management: Description EHS Management focuses on that the company is in compliance to environmental laws, ensuring the safety of workers, and monitoring health-related aspects. It also includes incident management and risk assessment. Importance: Critical for industries that are subject to a high degree of regulatory scrutiny like the oil and gas industry, chemicals and manufacturing.
Compliance Management Software: Description The software for compliance management ensures that companies adhere to the industry’s standards, regulations, and internal guidelines. It assists in monitoring and directing compliance obligations. Importance: Important for industries that are governed by complex regulations such as finance, healthcare and pharmaceuticals.
Application for Document Management: Description The software for document management helps in the organization, storage and retrieval. It helps to control version access rights, as well as audit records for documents. Importance: Critical for maintaining compliance, particularly in sectors like finance and pharmaceuticals.
Market size and trends: The growth of smart factories and goods, coupled with the increasing demand for cloud-based product lifecycle management (PLM) solutions, is expected to drive growth. The COVID-19 pandemic has accelerated the adoption of cloud technologies for remote working and business continuity, further increasing the need for PLM solutions. The pandemic positively impacted market growth by promoting widespread use of cloud-based solutions.
Growth Drivers
The usage of smart devices and high-tech electronics is on the rise. The rise in demand for smart devices and high-tech electronics has necessitated the use of software for quality control and product lifecycle management. QLM software systems are crucial for reducing risks and producing high-quality products, reducing time and money spent on defect identification. Quality management is vital in the electronics and appliance sectors, ensuring business success and reputation. However, these businesses must navigate challenges such as increased competition, shifting quality standards, cost reduction, and supplier management. Qualityze EQMS software is a closed-loop quality system designed for the electronics and appliance industries. It offers features such as document management, incident management, change management, nonconformance management, CAPA management, maintenance management, calibration management, audit management, field safety action management, forms management, material compliance management, supplier quality management, training management, complaint management, inspection management, and permit management.
Restraints
The issue of interoperability and integration of complex systems is a significant concern. The successful application of Quality Management (QLM) software across industries relies on interoperability between information systems throughout the quality lifecycle. This ensures a continuous and two-way information flow from design to manufacturing process and product assembly. Businesses must adopt a strategic, end-to-end approach to QLM, demonstrating expertise in software development and sophisticated systems integration. Inadequate integration and interoperability of complex systems can hinder the benefits of new technology. The growing supply chain requires efficient management and integration of Quality Life Cycle Management (QLM) software, which is a challenge for most top manufacturing companies. This integration hinders the overall advancement of the quality lifecycle, as parts are acquired from multiple locations, arrive with embedded software, and are assembled in diverse combinations.
The Quality and Lifecycle Management Software Market Key Players Include SAP, Oracle, Siemens, IBM, Microsoft, Autodesk, Dassault Systèmes, Parasoft, Intelex, SAS Institute, Arena Solutions, Aras Corporation, PTC, Atlassian, and ComplianceQuest.
New Developments
- Microsoft and SignDesk have announced a partnership to enhance document automation using Azure. The partnership, involving Microsoft, G7 CR Technologies, and SignDesk, will provide businesses with Microsoft Azure technologies integrated with their product suite. This will enhance user experience and provide flexibility for both new and existing clients. SignDesk’s document automation suite will also be available in the Microsoft marketplace. This partnership aims to improve cloud deployment capabilities and enhance digital documentation and contract lifecycle solutions.
- In October 2022, Sanofi and Dassault Systèmes formed a collaboration to use Dassault’s 3DEXPERIENCE platform models to generate virtual twins, improving the performance, dependability, and agility of Sanofi’s new facilities and enabling more effective product lifecycle management in a controlled setting.
Quality and Lifecycle Management Software Market Country-wise Insights
The Quality and Lifecycle Management Software Market is divided into regions such as North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA). North America, with a 35.4% revenue share in 2023, is leading the market in cutting-edge technologies like augmented reality, 5G and LTE telecommunications, IoT, and additive manufacturing. Major corporations are modernizing their product lifecycle management systems to support customer-centric development. IBM’s ELM 7.0, released in March 2023, uses AI to find real-time information from engineering data to grow engineering operations and manage complex projects. This strategic investment in technology provides a competitive advantage in the market. The Asia Pacific is predicted to experience a 10.7% CAGR growth, driven by the rapid industrialization and digitization of developing countries like China and India. This has led to a growing need for product lifecycle management (PLM) in the region, with large enterprises transforming processes, engineering, and product development functions to enhance growth strategies.
Key Market Segments: Quality and Lifecycle Management Software Market
Quality and Lifecycle Management Software Market, By Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Quality and Lifecycle Management Software Market, By Industry Vertical
- Automotive & Transport
- Healthcare & Manufacturing
- Consumer Goods & Retail
- Aerospace & Defense
- Industrial Manufacturing
- IT & Telecom
- Others (Hospitality, Construction, and Energy & Utilities)
Quality and Lifecycle Management Software Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Frequently Asked Questions with Answers
What Is the Worth of Global Quality and Lifecycle Management Software Market ?
The global Quality and Lifecycle Management Software Market is projected to grow at a 7.6% CAGR from 2024 to 2030, reaching a value of over USD 43.76 billion by 2030.
What Is the Size of the North America Quality and Lifecycle Management Software Industry?
North America leads the fastest-growing Quality and Lifecycle Management Software Market , accounting for over 35.4% of global revenue in 2023 due to rising income, expanding sectors, and domestic demand.
What Are Some of the Market’s Driving Forces?
The Quality and Lifecycle Management Software industry is expanding due to the growing demand for diamond coated medical devices, metal cutting oils, mechanical and electronic equipment in developing markets like Europe and North America, as well as emerging economies like India, China, Thailand, Indonesia, Brazil, and Argentina.
Which Are the Top Companies Hold the Market Share in Quality and Lifecycle Management Software Market ?
The report profiles key players such as SAP, Oracle, Siemens, IBM, Microsoft, Autodesk, Dassault Systèmes, Parasoft, Intelex, SAS Institute, Arena Solutions, Aras Corporation, PTC, Atlassian, and ComplianceQuest.
Which Is The Largest Regional Market For Quality and Lifecycle Management Software Market ?
The North America Quality and Lifecycle Management Software Market is rapidly expanding due to the availability of cheap labor and affordable raw resources, attracting significant international investment and driving market expansion.
Table of Content
1.Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Report
1.4 Research Methodology
- Market Overview
2.1 Market Dynamics
2.1.1 Drivers
2.1.2 Restraints
2.1.3 Opportunities
2.2 Industry Trends
2.3 Regulatory Landscape
- Segment Analysis
3.1 Quality Management Software (QMS)
3.1.1 Description
3.1.2 Significance
3.2 Product Lifecycle Management (PLM)
3.2.1 Description
3.2.2 Significance
3.3 Environmental, Health, and Safety (EHS) Management
3.3.1 Description
3.3.2 Significance
3.4 Compliance Management Software
3.4.1 Description
3.4.2 Significance
3.5 Document Management Software
3.5.1 Description
3.5.2 Significance
3.6 Risk Management Software
3.6.1 Description
3.6.2 Significance
3.7 Supply Chain Quality Management
3.7.1 Description
3.7.2 Significance
- Market Size and Deployment Models
4.1 Cloud-Based QLM Software
4.2 On-Premises QLM Software
- Industry Verticals
5.1 Manufacturing
5.2 Healthcare
5.3 Aerospace and Defense
5.4 Automotive
- Emerging Technologies
6.1 Integration with IoT
6.2 Artificial Intelligence (AI) and Analytics
- Regional Analysis
7.1 North America and Europe
7.2 Asia-Pacific
7.3 Latin America
7.4 Middle East and Africa
- Key Players
8.1 Dassault Systèmes
8.2 Siemens AG
8.3 SAP SE
8.4 Oracle Corporation
8.5 Other Major Players
- Conclusion
1o. Appendix
10.1 Market Share Analysis
10.2 Glossary
10.3 Methodology
10.4 Contact Information
List of Figures
Figure 1: Global Quality and Lifecycle Management Software Market Overview
1.1 Market Size and Growth (USD Billion)
1.2 CAGR (Compound Annual Growth Rate)
Figure 2: Market Dynamics
2.1 Drivers Impacting the Market
2.2 Restraints Impacting the Market
2.3 Opportunities in the Market
Figure 3: Industry Trends
3.1 Adoption of Emerging Technologies
3.2 Shifts in Regulatory Landscape
Figure 4: Quality Management Software (QMS) Segment Analysis
4.1 Market Size of QMS Segment
4.2 QMS Adoption Trends
Figure 5: Product Lifecycle Management (PLM) Segment Analysis
5.1 Market Size of PLM Segment
5.2 PLM Integration Across Industries
Figure 6: Environmental, Health, and Safety (EHS) Management Segment Analysis
6.1 Market Size of EHS Management Segment
6.2 EHS Compliance Trends
Figure 7: Compliance Management Software Segment Analysis
7.1 Market Size of Compliance Management Segment
7.2 Compliance Management Solutions Adoption
Figure 8: Document Management Software Segment Analysis
8.1 Market Size of Document Management Segment
8.2 Document Control and Versioning Trends
Figure 9: Risk Management Software Segment Analysis
9.1 Market Size of Risk Management Segment
9.2 Risk Identification and Mitigation Strategies
Figure 10: Supply Chain Quality Management Segment Analysis
10.1 Market Size of Supply Chain Quality Management Segment
10.2 Supplier Collaboration Trends
Figure 11: Market Size and Deployment Models
11.1 Adoption Trends of Cloud-Based QLM Software
11.2 On-Premises Deployment Models
Figure 12: Industry Verticals Analysis
12.1 Quality Management in Manufacturing
12.2 Healthcare Compliance and Quality Assurance
12.3 Aerospace and Defense PLM Implementation
12.4 Automotive Product Lifecycle Management
Figure 13: Emerging Technologies Impact
13.1 Integration with IoT in QLM Software
13.2 Role of AI and Analytics in Quality Assurance
Figure 14: Regional Analysis
14.1 Market Share by Region
14.2 Regional Growth Trends
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[…] purposes of this analysis are: To characterize, portray, and check the Global Quality and Lifecycle Management Software Market based on product type, application, and region. To estimate and inspect the size of the […]