The Worldwide Quality and Lifecycle Management Software Market is Projected to reach USD 46.9 Billion by 2028, at a CAGR of 7.3%

Quality and Lifecycle Management Software Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Quality and Lifecycle Management Software Market size is expected to reach $46.9 billion by 2028, rising at a market growth of 7.3% CAGR during the forecast period.

The Services segment is showcasing a CAGR of 8.2% during (2022 - 2028). This is due to the fact that these services provide a business with a larger team of experts and tried-and-true processes to improve its ability to act quickly. When needed, commodity expertise can help the firm oversee audits of products, processes, and systems. In addition, these services aid the clients in getting the most out of the suppliers they already have to meet production needs.

The Large Enterprises segment acquired maximum revenue share in the Global Quality and Lifecycle Management Software Market by Enterprise Size in 2021 thereby, achieving a market value of $32.5 billion by 2028. Large businesses require centralized resources to run their operations on a single platform. Moreover, QMS enables businesses to undertake enterprise-wide deployments and preserves local autonomy over processes. As a result, several QMS suppliers offer distinct software suites for large and medium-sized organizations.

The On-premise segment has shown the growth rate of 5.3% during (2022 - 2028). This is because on-premise quality and lifecycle management solutions have benefits including improved data control and security. Moreover, on-premise solutions can be tailored to meet the unique requirements of a company.

The Automotive & Transport segment is leading the Global Quality and Lifecycle Management Software Market by Vertical in 2021 thereby, achieving a market value of $12.4 billion by 2028. The automobile and transportation industries have experienced amazing expansion over the past several decades. Since purchasers are more concerned regarding the safety and innovative features of vehicles, manufacturers are more concerned with reducing costs and increasing output without sacrificing quality and safety.

The North America market dominated the Global Quality and Lifecycle Management Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $16.7 billion by 2028. The Europe market is experiencing a CAGR of 6.9% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 7.9% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/quality-and-lifecycle-management-software-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, SAP SE, Siemens AG, Dassault Systemes SE, Autodesk, Inc., PTC, Inc., Aras Corporation, SAS Institute, Inc., and Parasoft Corporation.

Global Quality and Lifecycle Management Software Market Segmentation

By Component

• Solution
  • Quality Management
  • Document & Product Data Management
  • Bill of Material (BOM) Management
  • Governance & Compliance Management
  • Cost Management
  • Change Management
  • Lifecycle Analytics Management
  • Others
• Services

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Deployment Type

• Cloud
• On-premise

By Vertical

• Automotive & Transport
• Industrial Manufacturing
• Consumer Goods & Retail
• Healthcare & Lifesciences
• Aerospace & Defense
• IT & Telecom
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• IBM Corporation
• Microsoft Corporation
• SAP SE
• Siemens AG
• Dassault Systemes SE
• Autodesk, Inc.
• PTC, Inc.
• Aras Corporation
• SAS Institute, Inc.
• Parasoft Corporation

Related Reports:

North America Quality and Lifecycle Management Software Market Size, 2028

• March-2023
• 123 Pages

LAMEA Quality and Lifecycle Management Software Market Size by 2028

• March-2023
• 144 Pages

Europe Quality and Lifecycle Management Software Market Size, 2028

• March-2023
• 144 Pages

Asia Pacific Quality and Lifecycle Management Software Market Size, 2028

• March-2023
• 145 Pages