New Research on DACH Quality Management System (QMS) Market is expected to grow at a CAGR of 11.6% over the Forecast Period (2020 – 2028), owing to Increasing Digitization across Industries and Growing Prevalence of Industry 4.0, says Absolute Markets Insights
The advancement in digital technologies is widening the scope and simultaneously increasing the significance of quality management systems across industries. The demand in the quality management system (QMS) market is gaining rapid traction across industries which are heavily investing towards digitization for enhancing product quality which effectively caters to customers demand while simultaneously complying with the stated regulatory requirement. A widespread adoption of technology including IoT, Artificial Intelligence (AI) and Machine Learning (ML), cloud storage and cloud computing amongst others across varied manufacturing companies has led to the emergence of Quality 4.0 or Enterprise Quality Management Systems (EQMS).
The organizations, along with capitalizing on these technologies, are increasingly investing towards embedding quality management systems (QMS) into their production and supply chain ecosystem, which showcases immense growth opportunity for DACH quality management system (QMS) market. Estimates highlight that organizations, which have already deployed relevant systems and technologies aligning with their industry 4.0 initiative, along with adoption of appropriate quality management applications have witnessed a substantial reduction in their total cost of quality by 22% to 50%. Market participants are leveraging on this opportunity and developing solutions which essentially caters to these verticals. Dassault Systèmes, for instance, offers an EQMS tool, Apriso Quality, which specifically targets global manufacturers, enabling them to enhance quality, address complexities associated with global manufacturing practices, while simultaneously lowering the total quality cost. Similarly, QDA Solutions GmbH offers CAQ systems to varied large scale and small and medium sized companies (SMEs) for documenting and optimizing processes in their move towards industry 4.0.
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The growing prevalence of software and electronics within the manufactured products from multiple industries is on a steady rise, which is further enhancing the requirement of adequate quality management solutions, thus supplementing the growth of DACH quality management system (QMS) market. Automotive is recognized as one of the strongest industry in Germany and is renowned as Europe’s largest automotive market with about 43 OEM manufacturing sites as of 2019. The country is popular in manufacturing high-tech automotive products including autonomous driving technology. Studies indicated that these technologies comprise about 40% of the overall cost of the vehicle. Hence, in order to ensure similar quality standards across the global operations of these companies, organizations are increasingly relying on quality management solutions to efficiently cater and comply with global customer requirements and regulatory standards.
The coronavirus pandemic have had a defying impact on industries globally. The rapid spread of the virus has enforced government bodies to implement mandates and regulatory standards across industries. United Nations Industrial Development Organization (UNIDO) in their initial analysis of the Covid-19 impact on quality and standards in April 2020, emphasized on the significance of quality management systems to competently and uniformly mitigate the negative impact of the pandemic. Industries globally, specifically sectors which are directly responding towards the pandemic, are leveraging the benefits associated with cloud-based quality management solutions. Nelson Labs, for instance, a global laboratory testing company, amidst the coronavirus pandemic conducted efficacy test of respirators and facemasks across their 13 global sites. The number of test conducted by the company increased by 3900% in this duration. The company affirmed that the deployment of a holistic quality management system (QMS) for connecting data and ensuring quality alignment across their operation centers, enabled them to cater the rising demand for lab tests more proficiently. Hence, pandemic has modified production practices across multiple industries and its sustained impact is anticipated to further boost the demand in DACH quality management system (QMS) market over the forecast period.
In terms of revenue, DACH quality management system (QMS) market was valued at US$ 719.40 Mn in 2019 and is anticipated to reach US$ 1943.63 Mn, growing at a CAGR of 11.6% over the forecast period (2020 – 2028). The study analyses the market in terms of revenue across all the major countries.
The detailed research study provides qualitative and quantitative analysis of DACH quality management system (QMS) market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major countries across DACH.
Key Findings of the Report:
- The solution component in the DACH quality management system (QMS) market held a prominent share in 2019. The widespread demand for consulting services and other professional services is anticipated to boost the demand for services segment in the market over the period of next eight years.
- Cloud-based deployment of quality management systems has gained massive popularity amidst the Covid-19 pandemic. The segment is expected to register highest CAGR over the forecast period.
- Regulatory mandates and government rulings are influencing SMEs to adopt adequate quality management systems so as to minimize on their overall quality cost of production practices.
- Industry 4.0 and smart factory initiatives across manufacturing industry has contributed to its highest share in DACH quality management system (QMS) market in 2019. The segment is also projected to grow at the highest rate over the future years
- Some of the players operating in the DACH quality management system (QMS) market are ABB, Aras, Babtec Informationsystem GmbH, CAQ AG Factory Systems, ConSense GmbH, COSMO CONSULT AG, Dassault Systèmes, Digimarc Corporation, Gurock, Omnex, Inc, Pickert & Partner GmbH, QDA SOLUTIONS GMBH, Quality Austria, Siemens and Software AG amongst others.
DACH Quality Management System (QMS) Market:
- By Component
- Solutions
- Services
- Professional Services
- Support & Training
- Others
- By Deployment Mode
- Cloud Based
- On Premise
- By Organization Size
- Small and Medium Sized Enterprises
- Large Enterprises
- By Industry Verticals
- Manufacturing
- IT
- Aerospace
- Automotive
- Pharmaceutical
- Medical Devices
- Food and Beverages
- Blood, Biologics and Tissue
- Dietary Supplements
- Consumer Goods
- Others
- By Country
- Germany
- Austria
- Switzerland
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