Dublin, March 01, 2022 (GLOBE NEWSWIRE) -- The "Inspection Management Software Market with COVID-19 Impact by Component (Solution and Services), Deployment Mode, Organization Size, Vertical (Aerospace and Defense, Healthcare and Life Sciences) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The inspection management software market is expected to grow from USD 7.6 billion in 2021 to USD 13.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period.
Inspection management software market is rapidly gaining acceptance worldwide by hospitals, enterprises and corporates. It aids in quality control, lowers manufacturing costs, eliminates scrap losses, and identifies the root causes of defective work.
The solution segment is expected to hold a higher market share during the forecast period
Inspection management software also includes visual platform which is a complete rounds with asset pins in the same screen as the digital floor plans, making it easy to find each stop within an inspection, automated inspection schedules which helps to make recurring inspection schedules that generate assigned work orders on a daily, weekly, monthly, and annual basis, custom rounds helps to create customized rounds with specific instructions and asset information for each of your buildings and floors, form builders helps to create custom inspection checklists and forms in minutes, address corrective measure helps to create and complete associated work orders in the field, documenting that the failed inspections have been corrected, inspection reporting allows to track inspection progress across the portfolio and drill down into specific programs and buildings.
The on-premises segment is expected to hold a higher market share during the forecast period
In this deployment method, all the information gets stored within enterprise premises. The on-premises deployment mode offers high speed, scalability, flexibility, and security but lacks in the remote access of stored data. The market share of the on-premises deployment mode is anticipated to steadily grow in the coming years due to its advantages. It is witnessing growth due to the ownership of private individual data and the digital rights management associated with the digital assets of enterprises.
The telecom vertical is expected to witness huge opportunities due to the need comply with government regulations.
To meet the telecom-specific requirements for hardware, software, and services, powerful inspection management software is required. It will contribute to address critical service challenges by increasing visibility of service quality and user experiences. In the telecommunications industry, streamlining device inspections is critical to reducing downtime. Exo is a quality assurance and inspection solution provider company. TIA condition assessments, post-modification, due diligence, as built and weld inspections, non-destructive foundation mappings, and rebar scans are all included in Exo inspection solution.it also has Aerial Inspections (UAV/Drone Inspection).
North America to dominate the inspection management software market in 2021
In North America, there is certification launched by Bureau Veritas to IATF 16949, which indicates the commitment to quality and readiness to compete in today's complicated, fast expanding industry. IATF 16949 helps drive customer satisfaction, create a culture of continuous improvement, detect, and mitigate risk in the automotive industry. The manufacturing industry has undergone tremendous changes, with digitized processes designed to meet increased demand, market dynamics, and disruptive innovation. This has increased the requirement for industrial processes to use inspection management software and integrate it into numerous operational domains via business process automation. The high usage and adoption of AI, cloud computing, big data, and 3D printing technologies are driving the North America market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Market
4.2 Inspection Management Software Market, by Component (2021 Vs. 2026)
4.3 Market, by Organization Size (2021 Vs. 2026)
4.4 Market, by Deployment Mode (2021 Vs. 2026)
4.5 Market, by Vertical (2021 Vs. 2026)
4.6 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Availability of Vast Features Including Creating Forms, Checklists, Scheduling, Recording, and Tracking a Task
5.2.1.2 Creating Estimation, Invoices, Quality Control of Raw Materials
5.2.1.3 Need to Detect Faulty Products in Production
5.2.1.4 Need of Accuracy, Cost-Saving, Auditing of a Product
5.2.1.5 Growing Need for Streamlining Business Process Flows in Inspections Activities
5.2.2 Restraints
5.2.2.1 High Cost of Installation and Technical Issues Within Inspection Management Software
5.2.2.2 Safety and Security Issues Within the Production Process
5.2.3 Opportunities
5.2.3.1 Rapid Growth of Ar, Iot, and Cloud Technologies in Operations
5.2.3.2 High Demand for Smes Toward Inspection Management Software
5.2.4 Challenges
5.2.4.1 Data Integrity and Security Concerns
5.2.4.2 Lack of Adequate Resources and Inadequate Software Training Tools
5.3 Case Study Analysis
5.4 Porter's Five Forces Analysis
5.5 Ecosystem
5.6 COVID-19 Driven Market Dynamics
5.6.1 Drivers and Opportunities
5.6.2 Restraints and Challenges
5.7 Supply Chain Analysis
5.8 Pricing Analysis
5.9 Patent Analysis
5.10 Technological Analysis
5.11 Regulations
5.12 Trends/Disruptions Impacting Buyers
6 Inspection Management Software Market, by Component
6.1 Introduction
6.1.1 Components: Market Drivers
6.1.2 Components: COVID-19 Impact
6.2 Solution
6.3 Services
7 Inspection Management Software Market, by Deployment Mode
7.1 Introduction
7.1.1 Deployment Modes: Market Drivers
7.1.2 Deployment Modes: COVID-19 Impact
7.2 On-Premises
7.3 Cloud
8 Inspection Management Software Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Inspection Management Software Market, by Vertical
9.1 Introduction
9.1.1 Verticals: Market Drivers
9.1.2 Verticals: COVID-19 Impact
9.2 Aerospace and Defense
9.3 Automotive
9.4 Consumer Goods and Retail
9.5 Energy and Utilities
9.6 Healthcare and Life Sciences
9.7 Manufacturing
9.8 Telecom
9.9 Transport and Logistics
9.10 Other Verticals
10 Inspection Management Software Market, by Region
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking
11.3 Historical Revenue Analysis of Top Vendors
11.4 Company Evaluation Quadrant
11.4.1 Star
11.4.2 Emerging Leader
11.4.3 Pervasive
11.4.4 Participant
11.5 Competitive Scenario
11.5.1 Market New Product Launches
11.5.2 Market Deals
11.5.3 Inspection Management Software Other Developments
12 Company Profiles
12.1 Key Players
12.1.1 Sap
12.1.2 Oracle
12.1.3 Siemens
12.1.4 Dassault Systemes
12.1.5 Ptc
12.1.6 Hexagon
12.1.7 Wolters Kluwer
12.1.8 Ideagen
12.1.9 Autodesk
12.1.10 Veeva Systems
12.1.11 Etq
12.1.12 Gensuite
12.1.13 Intelex
12.1.14 Iqs
12.1.15 Mastercontrol
12.1.16 Metricstream
12.1.17 Penta Technologies
12.1.18 Pilgrim
12.1.19 Plex
12.1.20 Reachoutsuite
12.1.21 Cority
12.1.22 Compliancequest
12.1.23 Omnex Systems
12.1.24 Field Eagle
12.1.25 Moonvision
12.1.26 Thrive Technologies
12.1.27 Sparta Systems
12.1.28 Aras
12.1.29 Assurx
12.1.30 Qualityze
13 Adjacent/Related Market
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/o49yy1
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