Adoption Of IoT Solutions Fueling Cloud-Based Product Lifecycle Management Market Expansion: An Emerging Driver Transforming The Cloud Based Product Lifecycle Management Market Landscape

The Cloud Based Product Lifecycle Management Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Cloud Based Product Lifecycle Management Market?
In recent years, the market size for cloud-based product lifecycle management has seen a swift expansion. It is anticipated to rise from $57.24 billion in 2024 to $66.8 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 16.7%. The growth during the historical period can be ascribed to the increasing emphasis on enhancing product efficiency, a surge in small and medium scale enterprises, a growing inclination towards digitization, heightened awareness of connected devices technology, and the adoption of auto real-time tracking of products.

The market size for cloud-based product lifecycle management is anticipated to experience swift expansion in the coming years and is projected to reach $124.04 billion by 2029 with a compound annual growth rate (CAGR) of 16.7%. This anticipated growth during the prediction period can be linked to an increasing concentration on crafting smart products, a growing acceptance of cloud-based solutions, a surge in demand for product lifecycle management solutions, combining Internet of Things (IoT) and PLM solutions, and an upsurge in the inclusion of IoT. Dominant trends during the projection period encompass collaborations and tech advancements, substantial investment in research and development, escalating technological progress, the launch of all-inclusive solutions, and the blending of technologies with current systems.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14289

What Are the Different Cloud Based Product Lifecycle Management Market Segments?
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

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14289&type=smp

What Are the Primary Drivers Shaping the Cloud Based Product Lifecycle Management Market?
The growth of the cloud-based product lifecycle management market is anticipated to be fueled by the increasing uptake of Internet of Things (IoT) solutions. IoT solutions represent the technologies, platforms, and systems that facilitate the linkage, dialogue, and interaction of a variety of physical objects, devices, and sensors via the internet. The surging adoption of integrated IoT solutions is motivated by the requirement for improved operational efficiency, real-time knowledge, and streamlined processes in various industries, coupled with the rising availability of reasonably priced hardware, advanced analytics abilities, and scalable cloud platforms. IoT enhances connectivity, data gathering, and real-time insights during different stages of the product lifecycle. Furthermore, the incorporation of IoT with cloud-based PLM systems allows manufacturers to boost operational efficiency, product quality, and customer satisfaction. In January 2022, the GSM Association, a non-profit industry organization based in the UK, projected that the total number of IoT connections would surpass 23.3 billion by 2025, a significant increase from the 15.1 billion connections registered in 2021. Consequently, the escalating adoption of integrated Internet of Things (IoT) solutions is propelling the expansion of the cloud-based product lifecycle management market.

Which Companies Are Leading in the Cloud Based Product Lifecycle Management Market?
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

What Trends Are Expected to Dominate the Cloud Based Product Lifecycle Management Market in the Next 5 Years?
Leading corporations in the cloud-based product lifecycle management market are emphasizing on innovation, such as inclusive product lifecycle management (PLM) platforms, to deliver a wide-ranging solution for the effective management of products' lifecycle. An inclusive PLM platform aims to amplify product development procedures, simplify data management, and hasten innovation in product design. For instance, KloudPLM, a tech firm based in India, launched in February 2022 its cloud-first product lifecycle management (PLM) platform using salesforces.com. This platform presents organizations with a potent solution for efficiently managing their product's entire lifecycle on the cloud. This platform includes pre-set templates that are customizable to match business processes and objectives and generates complete reports, a handy dashboard, and KPIs (Key Performance Indicators).

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/cloud-based-product-lifecycle-management-global-market-report

What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cloud Based Product Lifecycle Management Market?
2. What is the CAGR expected in the Cloud Based Product Lifecycle Management Market?
3. What Are the Key Innovations Transforming the Cloud Based Product Lifecycle Management Industry?
4. Which Region Is Leading the Cloud Based Product Lifecycle Management Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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: mailto: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.