Press release
Global Product Lifecycle Management (PLM) Software Market: Size, Trends & Forecasts (2018-2022)
Global Product Lifecycle Management (PLM) Software Market: Size, Trends & Forecasts (2018-2022)
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global product lifecycle management (PLM) software market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global market for product lifecycle management (PLM) is highly competitive and fragmented due to presence of numerous global and local players. The key players of the PLM software market are Autodesk, Dassault Systèmes, PTC and Siemens, who are also profiled with their business overview, financial analysis and respective business strategies.
Country Coverage
Americas
Europe, Middle East and Africa (EMEA)
Asia-Pacific
Company Coverage
Autodesk
Dassault Systèmes
PTC
Siemens (Siemens PLM Software)
Executive Summary
Product Lifecycle Management (PLM) is managing the lifecycle of a product from its inception to its disposal by scaling down of information across all teams in a company to create a better product. Product Lifecycle Management (PLM) is segmented into PLM Software and PLM services. Product lifecycle management software is used to automate the management of product-related data and integrate the data with other business processes such as enterprise resource planning (ERP) and manufacturing execution systems (MES).
PLM software helps in improving efficiency by reducing design time and release and change cycles. The PLM software also helps the business to innovate.
PLM Software can further be fragmented into two dimensional and three dimensional software. According to the products, the PLM software is divided into mechanical computer aided-design software (MCAD), simulation and analysis (S&A) software, collaborative product definition management (cPDm) software and digital manufacturing (DM) software.
The projections are made that the global product lifecycle management (PLM) software market would rise in the next four years i.e. 2018-2022 tremendously. The global product lifecycle management (PLM) software market is expected to increase due to rising demand for process automation, growing demand for automobile industry, increasing need for product innovations, shortening time to market, etc. Yet the market faces some challenges due to high cost and complexity issues, threat of cyber security and software privacy and low adoption by small and medium sized enterprises(SMEs).
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