Cloud Based Product Lifecycle Management Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share

What industry-specific factors are fueling the growth of the cloud based product lifecycle management market?
Growth in the cloud-based product lifecycle management market is projected to surge due to the rising implementation of Internet of Things (IoT) solutions. IoT technologies enable various physical objects, devices, and sensors to connect, communicate, and interact online. A surge in operational efficiency, real-time data, and streamlined processes across various industries is driving this increased usage of integrated IoT solutions. This is additionally fueled by the accessibility of inexpensive hardware, advanced analytics tools, and scalable cloud platforms. The use of IoT facilitates better connectivity and real-time data collection across different stages of the product lifecycle. Coupling IoT with cloud-based PLM systems allows manufacturers to boost their operational efficiency, product quality, and customer satisfaction. As per the UK-based GSM Association, the total count of IoT connections is predicted to exceed 23.3 billion by 2025, up from the 15.1 billion connections reported in 2021. As such, this surge in integrated IoT solutions is propelling the expansion of the cloud-based product lifecycle management market.

Get Your Cloud Based Product Lifecycle Management Market Report Here:
https://www.thebusinessresearchcompany.com/report/cloud-based-product-lifecycle-management-global-market-report

What Is the projected market size and growth rate for the cloud based product lifecycle management market?
In the past few years, the market size for cloud-based product lifecycle management has seen a significant expansion. The market is projected to swell further from $57.24 billion in 2024 to $66.8 billion in 2025, indicating a compound annual growth rate (CAGR) of 16.7%. This thriving growth in the historical period is due to several factors like the rising emphasis on enhancing product efficiency, the surge in small and mid-sized enterprises, the growing trend of digitalization, increased consciousness about connected devices technology, and the use of automatic real-time product tracking.

The market size for cloud-based product lifecycle management is anticipated to swiftly expand in the coming years, with a projection to reach $124.04 billion in 2029, growing at a compound annual growth rate (CAGR) of 16.7%. The acceleration in growth during the projected period can be linked to an increased emphasis on the creation of smart products, the extensive use of cloud-based solutions, burgeoning demand for product lifecycle management solutions, the amalgamation of Internet of Things (IoT) and PLM solutions, and the rising integration of IoT. Noteworthy trends for the forecast period encompass collaborations and technological advancements, substantial investments in research and development, mounting technological progress, the presentation of comprehensive solutions, and the blending of technologies with incumbent systems.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14289&type=smp

How are the latest trends influencing the growth of the cloud based product lifecycle management market?
Leading corporations in the cloud-based product lifecycle management market are focusing their efforts on inventing creative solutions like all-inclusive product lifecycle management (PLM) platforms. These platforms aim at elevating the processes involved in the development of a product, better organize data management, and boost innovation in product designs. For instance, in February of 2022, an Indian tech company named KloudPLM introduced its cloud-native PLM platform developed on salesforces.com. This offers companies a potent solution in managing their product's entire lifecycle seamlessly on the cloud. It comes with pre-set templates that can be uniquely altered to align with business processes and objectives. The platform also generates comprehensive reports, KPIs (Key Performance Indicators), and a dashboard.

What major market segments define the scope and growth of the cloud based product lifecycle management market?
The cloud based product lifecycle management market covered in this report is segmented -

1) By Component: Software, Services
2) By Technology: Radio-Frequency Identification (RFID), Near Field Communication (NFC), Other Technologies
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Portfolio Management, Product Data Management (PDM), Collaborative Design And Engineering, Customer Management, Compliance Management, Other Applications
5) By Industry Vertical: Aerospace And Defense, Healthcare And Life Sciences, Retail And Consumer Goods, Energy And Utilities, Industrial Machinery And Heavy Equipment, Telecommunications And IT, Automotive And Transportation, Semiconductor And Electronics, Other Industry Verticals

Subsegments:
1) By Software: Product Design And Development Software, Product Data Management (PDM) Software, Computer-Aided Design (CAD) Software, Product Quality Management Software, Others:
2) By Services: Consulting, Implementation, Support And Maintenance

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14289

Which region dominates the cloud based product lifecycle management market?
North America was the largest region in the cloud based product lifecycle management market in 2024. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the cloud based product lifecycle management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the cloud based product lifecycle management industry growth?
Major companies operating in the cloud based product lifecycle management market are Koch Industries Inc., Siemens AG, accenture* plc, Oracle Corporation, SAP SE, Atos SE, Rockwell Automation Inc., Dassault Systèmes S.A., Autodesk Inc., PTC Inc., Veeva Systems Inc., Blue Yonder Group Inc., IFS AB, Lectra SA, Centric Software Inc., PROLIM Corporation, Arena Solutions Inc., Tacton Systems AB, Aras Corporation, Bamboo Rose Inc., FusePLM, NexGenCAM LLC, Propel Software Inc., Essig PLM, Professional Systems Associates Inc., Razorleaf Corporation

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=14289&type=smp

What Is Covered In The Cloud Based Product Lifecycle Management Global Market Report?

• Market Size Forecast: Examine the cloud based product lifecycle management market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cloud based product lifecycle management market for a structured understanding.
• Key Players Overview: Analyze major players in the cloud based product lifecycle management market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cloud based product lifecycle management market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cloud based product lifecycle management market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cloud based product lifecycle management market.
• Industry Challenges: Identify potential risks and obstacles affecting the cloud based product lifecycle management market.
• Competitive Landscape: Review strategic developments in the cloud based product lifecycle management market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.