Product life cycle management (PLM) is a process which supports in managing and coordinating the complex cross-functional practices thereby delivering the best possible product. The PLM Systems is an enabling technology for PLM manages product from its conception and manufacturing, to its retirement and disposal. The PLM system offers optimization in development process by giving a competitive and cost effective solution with high quality.
The benefits offered by PLM software such as increasing productivity, quality, optimized business process, and efficiency in designing has supported high adoption of PLM. As per the historical trend analysis, the manufacturers from various industries including industrial machinery, consumer electronics, automotive, and other complex engineered products are adopting efficient PLM software in increasing numbers. The PLM software can integrate with various other integrated application software’s including Enterprise resource planning (ERP), Customer relationship management (CRM), and Application Lifecycle Management (ALM) among others thereby simultaneously manages both hardware and software deliverables and delivering competitive products.
The Global Product Life Cycle Management Market is expected to reach up to USD 835 Million by 2022, with 8% of CAGR.
The factors such as growing demand for enhanced and sustainable solutions by manufacturers need for integrated solutions, and dynamic feature of flexible scale-up or scale-down infrastructure and growing cloud based PLM solution are proving to be the Key Driving Factors for the PLM market. Furthermore, increasing adoption of cloud based PLM by small and medium-sized enterprises (SMEs) are expected to support the growth of PLM Market in the forecast period.
Manufacturing software providers are majorly concentrating upon small and medium sized enterprises (SMEs) to provide them with customized software that fits in to their frame. Soon, the growing demand of digital and smart factories across the globe is proving to be the key driving factor for the substantial increase in the demand for manufacturing software.
Introduction/ Overview of the Report:
Global Product Life Cycle Management Market Research is an exclusive Report with the Market Forecasts up to 2022. The Report is segmented in to Four Key dynamics –
- By Component; Software, Service
- By Deployment; On-Cloud, On-Premises
- By Functions;
- By End Users; Automotive, Industrial Machinery, Electronics and Semiconductors, Retail¸ Energy & Utilities, Aerospace and Defense
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The prominent players in the Product Life Cycle Management Market are –
- Dassault Systèmes (France)
- Autodesk, Inc. (U.S.)
- PTC (U.S.)
- Siemens PLM Software (U.S.)
- Apparel magic (U.S.)
- Oracle Corporation (U.S.)
- SAP SE (Germany)
- Infor, Inc. (U.S.)
- Aras Corporation (U.S.)
- Arena Technologies (U.S.)
- Omnify software (U.S.)
- Infor Company (U.S.)
- Accenture PLC (U.S.)
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Advantages of the Report – Global Product Life Cycle Management Market:
- This Report offers a detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global product life cycle management market.
- Provides the insights about factors affecting the market growth.
- Offers a detailed analysis based upon porter’s five force analysis.
- Provides historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- Provides country level analysis of the market with respect to the current market size and future prospective, segmented by components, deployment, functions, and end user.
- Offers strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- Guides to track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global product life cycle management market.
The regional analysis of product life cycle management market is being studied for region such as Asia pacific, North America, Europe and Rest of the World.
North America, with its established market sense in terms of implementation of PLM solutions, was the largest market for PLM in the past with a substantial market share.
The rising cloud based PLM applications in North America region is expected to support the growth of PLM Market in this region. Also, factors such as increasing demand of PLM software such as electronic computer aided design in countries such as U.S and Canada is expected the boost the PLM market.
The Middle East and Africa (MEA) region is estimated to be fast paced growing market for PLM due to the high investments in the PLM market for the Cost effective technologies which also saves the time required for the marketing of the Products. With the constant growth in industries, the MEA region is expected to lead to noteworthy growth in PLM market in the recent future.
The growing investment of PLM by small and medium-sized enterprises (SMEs) in Asia pacific region in countries such as India and China are expected to drive PLM growth in this region. The product life cycle management market in the Europe region is expected to grow with the rapid innovations in product design and life cycle of the product.
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