Product Lifecycle Management (PLM) in Fashion Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Product Lifecycle Management (PLM) in Fashion Market Size

The global market for Product Lifecycle Management (PLM) in Fashion was estimated to be worth US$ 680 million in 2023 and is forecast to a readjusted size of US$ 1540.7 million by 2030 with a CAGR of 12.5% during the forecast period 2024-2030.

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The global Product Lifecycle Management (PLM) in fashion market refers to the implementation and use of technology solutions that enable fashion brands, retailers, and manufacturers to effectively manage the entire lifecycle of their products, from design and development to manufacturing, distribution, and end-of-life.

Here are key aspects and components within the global PLM in fashion market:
Software Solutions: PLM in fashion encompasses a range of software solutions designed specifically for the fashion industry. These solutions provide features and functionalities such as product design and development, materials management, sample and prototype management, color and artwork management, size and fit optimization, supply chain collaboration, sourcing and procurement, production planning, quality control, and regulatory compliance.

Design and Development: PLM software for the fashion industry enables designers and product development teams to create, visualize, and manage product designs and collections more efficiently. It facilitates the collaboration between designers, merchandisers, and technical teams, streamlining the design process and ensuring that the product specifications are accurately communicated throughout the supply chain.

Supply Chain Collaboration: PLM software facilitates collaboration and communication among various stakeholders in the fashion supply chain. It enables effective collaboration between brands, suppliers, manufacturers, and logistics partners, improving visibility, efficiency, and accountability. By connecting all parties involved, PLM systems help streamline processes, reduce lead times, and enhance supply chain transparency.

Production Planning and Control: PLM in fashion includes features for production planning, capacity management, and tracking of manufacturing processes. It ensures that production timelines are met, helps manage production capacities, optimizes resource allocation, and enables real-time monitoring of production progress. These capabilities enhance operational efficiency and enable faster time-to-market.

Size and Fit Optimization: PLM solutions in fashion incorporate size and fit optimization features to address the challenge of garment sizing variability and improve customer satisfaction. They enable brands to define size standards, develop size charts, and analyze fit discrepancies. By leveraging data on customer preferences, body measurements, and fit trials, brands can design and produce garments that better align with customer expectations.

Retail and Merchandising Integration: PLM systems can integrate with retail and merchandising platforms, enabling seamless exchange of information between product design and point-of-sale systems. This integration facilitates assortment planning, pricing decisions, inventory management, and sales forecasting. By aligning design decisions with market demand, brands can optimize their product offerings and better meet customer needs.

Analytics and Reporting: PLM software provides analytics and reporting capabilities that enable brands to derive insights and make data-driven decisions. It offers visibility into key performance indicators such as product profitability, time-to-market, supplier performance, and sustainability metrics. These insights help brands identify areas for improvement, monitor compliance, and track the success of product strategies.

Market Growth Factors: The global PLM in fashion market is driven by several factors. The fashion industry's increasing need for agility, speed, and efficiency in product development and supply chain management is a significant driver. Additionally, the growing importance of sustainability and compliance in the fashion industry has led to the adoption of PLM solutions that enable brands to track and manage their sustainability goals and regulatory requirements effectively.The global Product Lifecycle Management (PLM) in fashion market refers to the implementation and use of technology solutions that enable fashion brands, retailers, and manufacturers to effectively manage the entire lifecycle of their products, from design and development to manufacturing, distribution, and end-of-life.

Here are key aspects and components within the global PLM in fashion market:

Software Solutions: PLM in fashion encompasses a range of software solutions designed specifically for the fashion industry. These solutions provide features and functionalities such as product design and development, materials management, sample and prototype management, color and artwork management, size and fit optimization, supply chain collaboration, sourcing and procurement, production planning, quality control, and regulatory compliance.

Design and Development: PLM software for the fashion industry enables designers and product development teams to create, visualize, and manage product designs and collections more efficiently. It facilitates the collaboration between designers, merchandisers, and technical teams, streamlining the design process and ensuring that the product specifications are accurately communicated throughout the supply chain.

Materials Management: PLM systems in fashion help manage and track the lifecycle of materials used in the production of garments and accessories. They provide visibility into material sourcing, inventory management, costing, and sustainability considerations. This allows brands to make informed decisions about materials selection, optimize costs, ensure compliance with regulations, and reduce environmental impact.

Supply Chain Collaboration: PLM software facilitates collaboration and communication among various stakeholders in the fashion supply chain. It enables effective collaboration between brands, suppliers, manufacturers, and logistics partners, improving visibility, efficiency, and accountability. By connecting all parties involved, PLM systems help streamline processes, reduce lead times, and enhance supply chain transparency.

Production Planning and Control: PLM in fashion includes features for production planning, capacity management, and tracking of manufacturing processes. It ensures that production timelines are met, helps manage production capacities, optimizes resource allocation, and enables real-time monitoring of production progress. These capabilities enhance operational efficiency and enable faster time-to-market.

Size and Fit Optimization: PLM solutions in fashion incorporate size and fit optimization features to address the challenge of garment sizing variability and improve customer satisfaction. They enable brands to define size standards, develop size charts, and analyze fit discrepancies. By leveraging data on customer preferences, body measurements, and fit trials, brands can design and produce garments that better align with customer expectations.

Retail and Merchandising Integration: PLM systems can integrate with retail and merchandising platforms, enabling seamless exchange of information between product design and point-of-sale systems. This integration facilitates assortment planning, pricing decisions, inventory management, and sales forecasting. By aligning design decisions with market demand, brands can optimize their product offerings and better meet customer needs.

Analytics and Reporting: PLM software provides analytics and reporting capabilities that enable brands to derive insights and make data-driven decisions. It offers visibility into key performance indicators such as product profitability, time-to-market, supplier performance, and sustainability metrics. These insights help brands identify areas for improvement, monitor compliance, and track the success of product strategies.

Market Growth Factors: The global PLM in fashion market is driven by several factors. The fashion industry's increasing need for agility, speed, and efficiency in product development and supply chain management is a significant driver. Additionally, the growing importance of sustainability and compliance in the fashion industry has led to the adoption of PLM solutions that enable brands to track and manage their sustainability goals and regulatory requirements effectively.

By Type
• CAD
• CAM
• PDM/CPDM

By Application
• Retailers
• Manufacturers

Key Companies
C-DESIGN Fashion, Computer Generated Solution, Dassault Systemes, EFI Optitex, Gerber Technology LLC, Infor Inc, Lectra S.A., PTC Inc., Simbus Technologies Pvt. Ltd., Xperia Solutions

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