Global Quality Management System (QMS) Market: Introduction
A quality management system (QMS) is defined as a formal system that documents processes, procedures, and responsibilities to achieve quality policies and objectives. A quality management system (QMS) helps to coordinate and direct an organization’s activities to meet customer and regulatory requirements and improve its effectiveness and efficiency on a continuous basis.
ISO 9001:2015, the international standard specifying requirements for quality management systems (QMS), is the most prominent standard of quality management systems.
Global Quality Management System (QMS) Market – Dynamics
Increasing need for Standardization/ Benchmarking for Defining, Improving, and Controlling Processes is expected to drive the Quality Management System (QMS) Market
Quality is the key to a company’s success; quality management systems enable organizations to keep up with and meet current quality levels, meet the consumer’s requirement for quality, retain employees through competitive compensation programs, and keep up with the latest technology. QMS has helped in reducing waste, preventing mistakes, lowering cost, facilitating and identifying training opportunities, and communicating readiness to produce consistent results. The quality management system market is expected to grow across the globe with the Industry 4.0 revolution.
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Emphasis on Documentation & Knowledge with Regard to Certifications
Owners and managers do not have adequate understanding of the ISO 9000 certification process or of the quality standards themselves. Many business owners have been known to direct their company's resources toward ISO 9000 registration, only to find that their incomplete understanding of the process and its requirements results in wasted time and effort. Lack of knowledge and huge efforts to manage the document related to quality management would hamper the growth of the market.
North America Expected to Dominate the Global Quality Management System (QMS) Market
In terms of region, the global quality management system (QMS) market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global quality management system (QMS) market during the forecast period, as the focus on improving product quality, services, and customer satisfaction within this region is high compared to other regions. Although for the next two year CO-VID19 will impact adversely to Europe, North America and APAC Quality Management System (QMS) Market
COVID 19 Impact on Global Quality Management System (QMS) Market
COVID 19 is expected to have an adverse impact on the manufacturing as well as service industry across the globe. The major usage of quality management systems (QMS) is in manufacturing industry which is adversely affected by the disease. The restriction on production imposed by governments has impacted the growth of the quality management system (QMS) market.
Global Quality Management System (QMS) Market – Competition Landscape
- In May 2019, Sparta Systems announced the launch of the industry's first AI-augmented decision making capabilities to enable a shift from reactive to proactive quality management.
Established in 1994, Sparta Systems is headquartered in Hamilton Township, NJ, United States. The company is the first EQMS vendor to respond to Quality 4.0 by embedding artificial intelligence (AI) into core quality management workflows. The company provides solutions, analytics, and expertise that speeds up quality and compliance. Sparta Systems supports close to 1 million users across 700+ implementations, in more than 30 countries.
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Global Quality Management System (QMS) Market: Segmentation
The global quality management system (QMS) market can be segmented based on:
- Enterprise Size
Global Quality Management System (QMS) Market, by Enterprise Size
Based on enterprise size, the global quality management system (QMS) market can be divided into:
- Small & Medium Enterprises
- Large Enterprises
Global Quality Management System (QMS) Market, by Industry
In terms of industry, the global quality management system (QMS) market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Wholesale Distribution
- Non-profit Organizations
- Food and Beverage
- Others (Hospitality, Government, and Public Sector, etc.)
Regional analysis of the global quality management system (QMS) market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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The following regional segments are covered comprehensively:
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4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.