Product Life Cycle Management Market is majorly driven by 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.
In this rapidly changing environment, companies are expanding their scale of operations by expanding their product portfolio to sustain in the market. Management of ideas for the implementation of new product is very important and can play very crucial role in the overall development of any company. PLC management software’s are designed in such manner which allows the user to make a deep analysis about the life cycle of any product. As the functionality of the products are becoming more complex, their development and support are giving huge pressure on the company and to overcome from this problem, PLC management plays very vital role by giving the option of analyzing the status of the products and providing notification to user if any re-development is required.
The benefits offered by Product Life Cycle Management Market 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 prominent players in the product life cycle management market are- Dassault Systems (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.), and Accenture PLC (U.S.) among others.
Product Life Cycle Management Market Segmentation:
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 NC, EDA, AEC and Simulation and Analysis S&A. The services are sub segmented as integration, consulting, maintenance and operation. By deployment the market includes- on-cloud and on-premises whereas the functions include system engineering, product portfolio management, product design, manufacturing process management and others. End users for this market has been identified as automotive and transportation, industrial machinery, electronics and semiconductors, retail¸ energy & utilities, aerospace and defense, pharmaceutical, it& telecom and others.
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.
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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
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
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