Quality Management System Revenue

Source Research:

Quality Management System (QMS) Software

Market Data | 15 Apr 2024 | MD-QMS-101

QMS software investment to nearly triple in ten years

Manufacturing firms are forecast to increase their spending on Quality Management System (QMS) software by a CAGR of 10.8% from 2024 to 2034, growing from US$4.69 billion to US$13.11 billion, as companies continue to prioritize quality management initiatives in response to customer and regulatory demands. The growth rate will be sharpest over the next few years and will then slowly peter out at the start of the next decade as digital transformation and Industry 4.0 technologies become more mature.

QMS software market growth rates will be similar to many associated enterprise software offerings (e.g., MES, PLM, and Computerized Maintenance Management System (CMMS)) due to often overlapping functionality and close integration with many vendors selling quality as part of an extended portfolio. Prime examples of this include Siemens’ portfolio with MES Opcenter (Opcenter Quality) and PLM Teamcenter (Teamcenter Quality), Rockwell Automation’s Plex MES/ERP that also includes Plex QMS, and Dassault Systèmes’ ENOVIA with market specialized QMS products attached.

Pharmaceuticals and other process manufacturers increasingly require QMS software 

While discrete manufacturing is currently the largest market for QMS software with revenue of US$2.69 billion in 2024, compared to that of the process market at US$1.99 billion, this will change by 2027, with the latter seeing a greater CAGR of 13.4%. This is primarily due to the increasing adoption of more comprehensive QMS software in the pharmaceutical and food & beverage verticals. Comparatively, the discrete market will still see a robust, but smaller, CAGR of 8.5%.