PLM in Discrete Manufacturing Market Size Grows Exponentially as Industry Embraces Innovation

The global PLM in discrete manufacturing market size was valued at $19.94 billion in 2020, and is projected to reach $33.24 billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.

Discrete manufacturing is an industry term used for manufacturing of finished products that are distinct items capable of being easily counted, touched, or seen. Discrete manufacturing and PLM software is primarily designed for managing all information and processes at every step of a product or service lifecycle across globalized supply chains. This includes data from items, parts, products, documents, requirements, engineering change orders, and quality workflows. Discrete manufacturing involves production of parts and systems such as nuts and bolts, brackets, wires, assemblies, and individual products.

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Discrete manufacturers are increasingly leveraging digital twin technology within PLM solutions. This trend allows them to create virtual representations of physical products and processes, enabling better visualization, simulation, and optimization throughout the product lifecycle.

Cloud-based PLM solutions are gaining popularity due to their scalability, accessibility, and collaboration capabilities. Manufacturers are migrating from on-premises systems to cloud-based PLM to streamline operations, reduce IT overhead, and support remote workforces.

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The integration of artificial intelligence (AI) and the Internet of Things (IoT) is transforming PLM in discrete manufacturing. AI-driven analytics enhance predictive maintenance, quality control, and product design optimization, while IoT sensors provide real-time data for continuous improvement.

Increasing regulatory requirements and consumer demand for sustainable products are driving manufacturers to focus on sustainability and compliance within their PLM strategies. PLM systems are evolving to help organizations track and manage environmental impact data, ensuring products meet sustainability goals.

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Region wise, the PLM in discrete manufacturing market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to increase in adoption of advance technologies such as IoT, connected industries, telecommunication technologies (5G, LTE), additive manufacturing, and augmented reality among various industries to improve their supply chain process. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in industrial and infrastructure expansion activities in India and China.

The key players profiled in the PLM in discrete manufacturing market analysis are ANSYS, Inc., Arena Solutions, Inc., Autodesk, Inc., Dassault Systèmes, Infor, Oracle Corporation, PTC Inc., SAP SE, Siemens AG, and Synopsys Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the PLM in discrete manufacturing industry.

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