Inspection Management Software Market to Reach $23.0 Billion In 2031 toSoars as Industries Embrace Technology
Integration of IoT, need for process optimization, and demand for regulatory compliance drive the Inspection Management Software Market.
PORTLAND, ORIGON, UNITED STATES, October 13, 2023 /EINPresswire.com/ — The report offers detailed segmentation of the global inspection management software market based on component, deployment mode, organization size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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COVID-19 Scenario:
► The outbreak of the COVID-19 had a negative impact on the growth of the global inspection management software market, owing to the presence of lockdowns as imposed by the governments of numerous countries around the world.
► Lockdowns resulted in temporary shutdown of various businesses and reduced transportation which adversely impacted the market growth.
► In addition, supple chain challenges among companies and shortage of skilled workforce due to the prevalence of strict social distancing restrictions from the government further aggravated the impact on the market.
► The inspection management software industry is likely to prosper in the upcoming years after the recovery from the COVID-19 pandemic scenario.
► Moreover, many companies have incorporated new strategies such as business expansion and new product launches to support end-users in their work of seamless inspection in these crucial times.
Based on deployment mode, the on-premise segment held the dominating market share in 2021, holding nearly around three-fifths of the global inspection management software market. The cloud segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CGAR of 15.5% during the forecast period.
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Based on component, the solution segment held the dominating market share in 2021, holding more than two-thirds of the global inspection management software market, and is expected to maintain its leadership status during the forecast period. The services segment, on the other hand, is expected to cite the fastest CAGR of 14.6% during the forecast period.
Based on organization size, the large enterprises segment held the dominating market share in 2021, holding nearly two-thirds of the global inspection management software market, and is expected to maintain its leadership status during the forecast period. The small and medium enterprises segment, on the other hand, is expected to cite the fastest CAGR of 14.6% during the forecast period.
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Key Market Players:
► Oracle Corporation
► Autodesk, Inc.
► Dassault Systems
► Hexagon, MetricStream Inc.
► Penta Technologies, Inc.
► PTC
► SAP SE
► Siemens AG
► Wolters Kluwer NV
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