Product Life Cycle Management (PLC) Market 2018 Global Key Players Siemens PLM, Apparel magic, Oracle, SAP SE, Aras, Arena, Omnify software, Accenture PLC

Global Product Life Cycle Management Market, By Component (Software, Service), By Deployment (On-Cloud, On-Premises), By End Users (Automotive, Industrial Machinery, Electronics and Semiconductors, Retail¸ Energy & Utilities, Aerospace and Defense) by Forecast 2022.

Market Research Future Analysis, Global Product Life Cycle Management Market has been valued at US 835 Million by the end of forecast period with 8% of CAGR during forecast period 2018 to 2022.

Market Highlights:

The Global Product Life Cycle Management market is growing rapidly. Increase per capita income, high spending, growing economies of countries are high investment in R&D segment is driving the market of PLC management. PLC management is a process which helps the organizations in management of life cycle of their product since the beginning to end. This starts from idea generation of any product and ends with the re-transformation of the product. In this growing era where products are sustaining into market only because of their unique features, re-transformation with context to the need is very important. PLC management helps in various activities such as consumption of low energy, material, and workforce among others. PLC management also focuses on the high efficiency and innovation which ensures the healthy growth of the product through all the stages.

PLC management market is also increasing as it largely collaborate all the manufacturing process including supply chain, product improvements, quality checks and warehouse & logistics which was earlier a single task and needed individuals to do the assessments. The level of cooperation among all the stages of products is highly beneficial for the market of PLC management and its growth.

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Key Players:

The prominent players in the product life cycle management market are- Dassault Systèmes (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.

Market Research Analysis:

Market Research Future Analysis shows that with arrival of cloud computing in industrial process the on-cloud deployment segment will grow rapidly. Cloud based PLC solution offers unique features and can be helpful to company as the information stored on cloud has no geographical boundaries and a designated person can access it from any place on the earth. On cloud PLC solution also helps in collaborating, tracking and regulating all changes and brings the data from various processes.

By Geography, North America is expected to dominate the market. Presence of global players such as Autodesk, Inc., Parametric Technology Corporation, Arena Technologies and Accenture PLC gives this region a competitive advantage over other countries. Furthermore, Asia-Pacific region has emerged as fastest growing market owing to factors such as high focus on the collaborative product development, rapid expansion of manufacturing sector and steady migration towards intelligent manufacturing. The Europe region is also showing positive growth towards PLC management market due to growth of cloud computing and increasing adoption for efficient manufacturing processes.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

By End User segment, Aerospace and Defence segment is dominating the market due to high burden of reducing cost of production on aviation industry and manufacturers of aircrafts. High adoption of PLM management in Aerospace & Defence industry is helping the manufacturers to reduce the time taken by the product to enter into the market and gain optimum control over the production process. Automotive and transportation segment is also showing a positive growth into the market of PLM management as this sector is witnessing considerable expansion from the past couple of years. Arrival of IOT concept and automation in the manufacturing industry will help in high adoption of this process by industries. Whereas, retail and pharmaceuticals sector is expected to grow at fastest CAGR during the forecast period.

By Region, MRFR analysis shows that North America will account for largest market for PLM in the forecast period. This region has very high adoption of PLM solutions owing to factors such as high investments in technology, healthcare and aerospace and defence sector. Asia-Pacific has emerged as fastest growing market due to the growing manufacturing, foods & beverages and automotive industry in China, Japan and South Korea.

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Intended Audience:

• 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

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