The global PLM market has generated revenue of $40.26 Bn in 2014 and is projected to grow at a CAGR of 8.1% during the forecast period (2015 – 2022) to reach a market size of US$ 75.87 Bn by 2022.
Albany, NY -- (SBWIRE) -- 11/06/2015 -- Product lifecycle management (PLM) represents an overall vision and systematic data management related to the product design, production, support as well as its ultimate disposal in a product development process in organizations. There are certain variables such as time, functions, performance, and price that change frequently with the product lifecycle processes. Therefore, the product innovation process should be done based on the changes in above mentioned variables to meet the market the demand. Delivering right product at right time is the major goal of enterprises in the market. PLM provides many benefits to organizations such as significant reduction in time-to-market the product, production cost minimization, and product quality and reliability enhancement.
The various challenges faced by product development teams in enterprises include globalization, and growing demand for mass customization as well as quick innovation. These challenges are leading to the growing need for PLM solutions, which provide the collaborative environment and knowledge management of a product's lifecycle process.
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This research report provides in-depth analysis of the global PLM market based on component types, end-use applications, and geography. In terms of geographical regions, the report segments the global PLM market into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, which are analyzed in terms of revenue generation. North America is further segmented into the U.S. and Rest of North America, while Europe is divided into EU7, Commonwealth of Independent States (CIS), and Rest of Europe. Moreover, Asia Pacific is subdivided into Japan, China, South Asia, Australasia, and Rest of Asia Pacific. Also, MEA is further segmented into Gulf Cooperation Council (GCC) countries, North Africa, Southern Africa, and Rest of MEA, while Latin America is subdivided into Brazil and Rest of Latin America.
The PLM market is categorized based on component types into software and services. The market is experiencing implementation of PLM software in both on-premise as well as cloud-based models. The report further segments both on-premise and cloud-based PLM into various software types including CAD/CAM/CAE (CAx), numerical control (NC), simulation and analysis (S&A), architecture, engineering and construction (AEC), collaborative product definition management (CPDM), digital manufacturing, electronic design automation (EDA), and others. The PLM services market is also subdivided into consulting, integration, and operation & maintenance. This research report provides complete insights into different end-use application sectors of PLM including automotive and transportation, aerospace and defense, industrial machinery and heavy equipment, electronics and semiconductor, energy and utilities, consumer products and retail, medical devices and pharmaceuticals, IT and telecom, and others (marine and chemicals). The report analyzes each of these segments for various geographical segments considered under the scope of the study.
Furthermore, the report analyzes the factors that drive and restrain the growth of the PLM market. The report also discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of PLM software and services. It also provides the market estimates and forecasts for all the segments in terms of revenue. Also provided is the market positioning of key players in the global PLM market.
Additionally, the report includes competitive profiling of the major players engaged in offering PLM software and services. Major business strategies adopted by them, their market positioning, and various recent developments have also been identified in the research report. The key market players profiled in this study include both software vendors and service providers. The major PLM software vendors profiled in the report are Dassault Systemes, PTC, Inc., Siemens AG, Autodesk, Inc., SAP SE and Aras Corporation. The major service providers of PLM profiled in the study are IBM Corporation, Accenture PLC, Atos SE, and Hewlett-Packard Company.
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