Global Quality Management System (QMS) Market: Introduction
A quality management system (QMS) is defined as a formal system that documents processes, procedures, and responsibilities to achieve quality policies and objectives. A quality management system (QMS) helps to coordinate and direct an organization’s activities to meet customer and regulatory requirements and improve its effectiveness and efficiency on a continuous basis.
ISO 9001:2015, the international standard specifying requirements for quality management systems (QMS), is the most prominent standard of quality management systems.
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Global Quality Management System (QMS) Market – Dynamics
Increasing need for Standardization/ Benchmarking for Defining, Improving, and Controlling Processes is expected to drive the Quality Management System (QMS) Market
Quality is the key to a company’s success; quality management systems enable organizations to keep up with and meet current quality levels, meet the consumer’s requirement for quality, retain employees through competitive compensation programs, and keep up with the latest technology. QMS has helped in reducing waste, preventing mistakes, lowering cost, facilitating and identifying training opportunities, and communicating readiness to produce consistent results. The quality management system market is expected to grow across the globe with the Industry 4.0 revolution.
Emphasis on Documentation & Knowledge with Regard to Certifications
Owners and managers do not have adequate understanding of the ISO 9000 certification process or of the quality standards themselves. Many business owners have been known to direct their company’s resources toward ISO 9000 registration, only to find that their incomplete understanding of the process and its requirements results in wasted time and effort. Lack of knowledge and huge efforts to manage the document related to quality management would hamper the growth of the market.
Global Quality Management System (QMS) Market – Competition Landscape
- In May 2019, Sparta Systems announced the launch of the industry’s first AI-augmented decision making capabilities to enable a shift from reactive to proactive quality management.
Sparta Systems
Established in 1994, Sparta Systems is headquartered in Hamilton Township, NJ, United States. The company is the first EQMS vendor to respond to Quality 4.0 by embedding artificial intelligence (AI) into core quality management workflows. The company provides solutions, analytics, and expertise that speeds up quality and compliance. Sparta Systems supports close to 1 million users across 700+ implementations, in more than 30 countries.
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Global Quality Management System (QMS) Market: Segmentation
The global quality management system (QMS) market can be segmented based on:
- Enterprise Size
- Industry
- Region
Global Quality Management System (QMS) Market, by Enterprise Size
Based on enterprise size, the global quality management system (QMS) market can be divided into:
- Small & Medium Enterprises
- Large Enterprises
Global Quality Management System (QMS) Market, by Industry
In terms of industry, the global quality management system (QMS) market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Manufacturing
- Construction
- Wholesale Distribution
- Non-profit Organizations
- Chemicals
- Food and Beverage
- Retail
- Others (Hospitality, Government, and Public Sector, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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