Quality and Lifecycle Management Software Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2033
- PUBLISHED ON
- 2024-06-02
- NO OF PAGES
- 255
- CATEGORY
- Information Communication & Technology
The global Quality and Lifecycle Management Software Market size was valued at USD 27.56 billion in 2022, and is projected to reach USD 37.57 billion by 2033 at a CAGR of 8.5% from 2023 to 2033.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 27,560 million |
Market Forecast in 2033 | USD 37,537 million |
CAGR % 2023-2033 | 8.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Siemens, Dassault Systèmes, IBM, Oracle, SAP SE, PTC, Arena Solutions, Inc., Ansys, Inc., Aras Corporation, Sparta Systems, MasterControl Inc., Intelex Technologies, EtQ, LLC, IQMS, MetricStream, |
Company Initiatives:
In terms of company investments and strategies in the Quality and Lifecycle Management Software Market, many companies are investing in research and development to improve their QLM software offerings and to stay ahead of the competition. For example, Siemens AG has been investing heavily in its Teamcenter Quality software, which is used for managing product quality throughout the product lifecycle.
Other companies in the Quality and Lifecycle Management Software Market, such as Dassault Systèmes, are also investing in research and development to improve their QLM software offerings and to expand their market share.
Growing focus on product quality and safety across various industries is propelling Quality and Lifecycle Management Software Market growth.
In today's competitive business environment, companies are under immense pressure to deliver high-quality products that meet customer requirements, comply with industry standards, and adhere to regulatory requirements. The Quality and Lifecycle Management Software Market is a critical enabler for companies to achieve these objectives, by providing them with the necessary tools and capabilities to manage various aspects of product development and lifecycle management.
Geography:
North America currently dominates the Quality and Lifecycle Management (QLM) software market, in terms of market share and revenue. This can be attributed to the presence of several key players in the region, as well as the high adoption rate of QLM software solutions among various industries such as automotive, aerospace and defense, and healthcare.
Recent Development:
Here are some recent market developments in the Quality and Lifecycle Management Software Market:
• In 2020, the Quality and Lifecycle Management Software Market in North America was valued at approximately USD 6.1 billion, with the United States accounting for the majority of Quality and Lifecycle Management Software Market share.
• In 2020, Siemens announced the acquisition of Avatar Integrated Systems, a provider of software solutions for semiconductor design and verification, as part of its strategy to expand its QLM software offerings.
• In 2021, Dassault Systèmes acquired Medidata, a provider of clinical trial management software, to expand its QLM software offerings in the healthcare industry.
• In 2021, IBM announced the acquisition of myInvenio, a provider of process mining software, to enhance its QLM software offerings in the areas of process automation and optimization.
• In 2022, Oracle announced the release of its cloud-based Quality Management software, which offers a range of features such as quality planning, inspections, and analytics.
Impact of the Russia-Ukraine War on the global Quality and Lifecycle Management Software Market:
The ongoing conflict between Russia and Ukraine may have several impacts on the Quality and Lifecycle Management (QLM) software market. The conflict could lead to disruptions in global supply chains, which could impact the availability of raw materials and components needed for the manufacture of products across various industries.
Company Profiles:
• Siemens
• Dassault Systèmes
• IBM
• Oracle
• SAP SE
• PTC
• Arena Solutions, Inc.
• Ansys, Inc.
• Aras Corporation
• Sparta Systems
• MasterControl Inc.
• Intelex Technologies
• EtQ, LLC
• IQMS
• MetricStream
Segmentation:
By Type
• Quality Management Software
• Product Lifecycle Management Software
• Compliance Management Software
• Others
By Deployment Model
• Cloud
• On-Premise
By End User
• Automotive
• Aerospace and Defense
• Healthcare
• Consumer Goods
• Others
Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global Quality and Lifecycle Management Software Market size was valued at USD 27.56 billion in 2022, and is projected to reach USD 37.57 billion by 2033 at a CAGR of 8.5% from 2023 to 2033
What are the drivers shaping various markets?
Growing focus on product quality and safety across various industries is propelling Quality and Lifecycle Management Software Market growth. In today's competitive business environment, companies are under immense pressure to deliver high-quality products that meet customer requirements, comply with industry standards, and adhere to regulatory requirements.
Who are the key competitors of market Players?
Some of the major players operating within the market are Siemens, Dassault Systèmes, IBM, Oracle, SAP SE, PTC, Arena Solutions, Inc., Ansys, Inc., Aras Corporation, Sparta Systems, MasterControl Inc., Intelex Technologies, EtQ, LLC, IQMS, MetricStream.
What are the top performing segments, and countries / regions of each of the markets?
Asia Pacific region is also expected to emerge as a significant Quality and Lifecycle Management Software Market, driven by factors such as the rapid growth of the manufacturing industry, the increasing focus on product quality and safety, and the growing adoption of advanced technologies.
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