TMR Revises Quality Management Software Market Forecast, as COVID-19 Pandemic Co
Posted by Fred Williams on April 21st, 2021
Competition in the global quality management software market is expected to increase considerably in the coming years, states Transparency Market Research (TMR) in its recent report. The entry of new players will further trigger the competition in this market. This has also resulted in the market highly fragmented. Numerous players in the global quality management software market are adopting advanced technologies to offer highly efficient and advanced products. Product differentiation is also one of the major concern of these players. Partnership, mergers and acquisition, and collaboration are favorable strategies of prominent players. Recently, Sparta Systems launched the industry’s first AI-augmented decision-making capabilities for the quality management system. The aim of the company was to provide proactive quality management rather than reactive services. Such initiatives will augment growth in this market.
Leading players are experimenting with different software and adding new features in order to upgrade software in use. Some of the prominent players operating in the global quality management software market include Hewlett Packard Enterprise Co., International Business Machines Corp., MasterControl Inc., Oracle Corp., and Dassault Systèmes SE.
Regarding the statistical information presented in TMR’s report, the global quality management software market is expected to cross US.4 bn by the end of 2025. The market is anticipated to progress at impressing rate of 13.20% CAGR between 2017 and 2025.
With respect to geographical reach, developed regions standout and perform outstandingly in enhancing growth in the global quality management software market. Rapid technological advancements and the presence of leading software companies in the region has made North America hold top position in this market.
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About the AuthorFred Williams
Joined: May 7th, 2020
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