Product life cycle management is a process which supports in managing and coordinating the complex cross-functional practices thereby delivering the best possible product. The PLM Systems as an enabling technology for PLM manages product from its conception and manufacturing, to its retirement and disposal. The PLM systems offer 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.
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The factors such as growing need for enhanced and sustainable solutions by manufacturers, need for integrated solutions, and dynamic feature of flexible scale-up or scale-down infrastructure are expected to boost the PLM market. Moreover, growing cloud based PLM solution is also expected to drive the PLM Market. The Cloud Based PLM software enables collaboration and product data sharing within the organization at different locations thereby smoothing the process of product development and offering added benefits of flexibility and cost-effectiveness. 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.
The global Product Life Cycle Management Market is expected to grow at USD ~835 Million by 2022, at ~8% of CAGR.
- 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.)
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. 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 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.
The Global Product Life Cycle Management Market has been segmented on the basis of components, deployment, functions, and end user. The components include software and service were software is sub segmented as Numerical Control (NC), Electronic Design and Automation (EDA), Architecture and Engineering and Construction (AEC) and Simulation and Analysis (S&A). The services are sub segmented as integration, consulting, maintenance and operation. The product life cycle management is bifurcated by deployment type namely on-cloud and on-premises. The functions include system engineering, product portfolio management, product design, manufacturing process management and others. End users comprises of Automotive and Transportation, Industrial Machinery, Electronics and Semiconductors, Retail¸ Energy & Utilities, Aerospace and Defense, pharmaceutical, IT& telecom and others.
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- Government Organizations
- Research/Consultancy firms
- Software and managed service providers
- Software manufacturers and system integrators
- Cloud Vendors
- Vendors from various industry verticals such as Automotive, Industrial Machinery, and Electronics & Semiconductors among others
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