The global product lifecycle management (PLM) software market size reached US$ 24.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.10% during 2023-2028. . .
Product Lifecycle Management (PLM) software refers to a set of tools, systems, and processes used to manage the entire lifecycle of a product, from its initial design and development stages to its eventual retirement or disposal. It acts as a centralized platform that enables organizations to effectively collaborate, track, and manage product-related data and activities across different departments and stakeholders. It helps manage product changes, including change requests, change orders, and engineering change orders (ECOs). It provides tools for creating, visualizing, and modifying product designs.
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Product Lifecycle Management (PLM) Software Market Trends and Drivers.
PLM software is employed in the automotive industry by enabling efficient management of vehicle design, engineering changes, and product variants to integrate design, manufacturing, and supply chain processes. Along with this, the increasing sales of luxury vehicles represent one of the primary factors strengthening the market growth around the world. Moreover, the rising usage of PLM software in the aerospace and defense sectors to manage complex product configurations, engineering changes, and compliance with stringent regulations is favoring the growth of the market. Apart from this, the growing adoption of PLM software in the electronics industry to manage the design, manufacturing, and distribution of electronic products and ensures smooth collaboration between engineering and manufacturing teams is influencing the market positively.
Some of these key players include:
- ANSYS Inc.
- Aras Corporation
- Autodesk Inc.
- Coats Digital:
- Dassault Systèmes SE (Dassault Group)
- Infor (Koch Industries Inc.)
- Oracle Corporation
- PROCAD GmbH & Co. KG:
- Ptc Inc.
- Pulse Technology Systems Ltd.
- SAP SE and Siemens Aktiengesellschaft.
The report has segmented the market on the basis of end use industry.
Breakup by Software Type:
- Portfolio Management:
- Design and Engineering Management
- Quality and Compliance Management
- Simulation, Testing and Change Management
- Manufacturing Operations Management
- Others:
Breakup by Deployment Type:
- On-premises
- Cloud-based
Breakup by End User:
- Aerospace and Defense
- Automotive and Transportation
- Healthcare:
- IT and Telecom
- Industrial Equipment and Heavy Machinery
- Retail:
- Semiconductor and Electronics
- Others:
Breakup by Region:
- North America. (United States, Canada)
- Asia Pacific. (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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