The Product Lifecycle Management (PLM) market size was USD 27.50 Billion in 2021 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to the latest analysis by Emergen Research. Increasing focus on developing groundbreaking smart products is a key factor driving revenue growth of the market. In addition, increased efficiency in marketing offered by PLM systems is a major trend that is expected to drive revenue growth of the global market. Product Lifecycle Management (PLM) helps organizations to develop and introduce new products in the market. This software makes it easy to track and share data along with product value chain, from initial design through manufacturing, supply chain management and operations, and asset maintenance. PLM plays a critical role in helping manufacturers to develop the next generation of products, at a lower cost and with a faster time to market. PLM, provides a collaborative environment for teams to discuss and resolve issues at an early stage. It allows product information to move effortlessly between teams and data to be accessed from any platform around the world.
Apparently, the pandemic has disrupted the Product Lifecycle Management market’s supply chains and caused acute volatility in the prices and demands for the top products. Therefore, the report analyzes the market segments beleaguered by the aftereffects of the pandemic. However, our analysts speculate that the market will regain momentum in the post-COVID era.
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Product Lifecycle Management Market -Competitive Outlook:
Siemens AG, Oracle Corporation, Dassault Systemes, Autodesk, Inc., Aras Corporation, IBM, Kalypso, Accenture, Bamboo Rose and Propel.
Product Lifecycle Management Market Segmentation:
Emergen Research has segmented the PLM market based on deployment mode, software, end-use, and region:
Deployment Mode Outlook (Revenue, USD Billion; 2019–2030)
Cloud
On-Premises
Software Outlook (Revenue, USD Billion; 2019–2030)
Portfolio Management
Simulation & Change Management
Quality Management
Manufacturing Operations Management
Design & Engineering Management
Others
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Automotive & Transportation
IT & Telecom
Aerospace & Defense
Others
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