Global Inspection Management Software Market (2021 to 2026) - Rapid Growth of AR, IoT and Cloud Technologies in Operations Presents Opportunities - ResearchAndMarkets.com

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.

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.

Market Dynamics

Drivers

• Availability of Vast Features Including Creating Forms, Checklists, Scheduling, Recording, and Tracking a Task
• Creating Estimation, Invoices, Quality Control of Raw Materials
• Need to Detect Faulty Products in Production
• Need of Accuracy, Cost-Saving, Auditing of a Product
• Growing Need for Streamlining Business Process Flows in Inspections Activities

Restraints

• High Cost of Installation and Technical Issues Within Inspection Management Software
• Safety and Security Issues Within the Production Process

Opportunities

• Rapid Growth of Ar, Iot, and Cloud Technologies in Operations
• High Demand for Smes Toward Inspection Management Software

Challenges

• Data Integrity and Security Concerns
• Lack of Adequate Resources and Inadequate Software Training Tools

Companies Mentioned

• Sap
• Oracle
• Siemens
• Dassault Systemes
• Ptc
• Hexagon
• Wolters Kluwer
• Ideagen
• Autodesk
• Veeva Systems
• Etq
• Gensuite
• Intelex
• Iqs
• Mastercontrol
• Metricstream
• Penta Technologies
• Pilgrim
• Plex
• Reachoutsuite
• Cority
• Compliancequest
• Omnex Systems
• Field Eagle
• Moonvision
• Thrive Technologies
• Sparta Systems
• Aras
• Assurx
• Qualityze

For more information about this report visit https://www.researchandmarkets.com/r/3yzdlz

View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005680/en/