Press release
Consumer Products and Retail Market: Global Industry Analysis, Size, Share, Forecast 2022
Product lifecycle management (PLM) is a systematic data management tool that deals with the product design, support, production, and ultimate disposal process in organizations. PLM helps in the delivery of the right product at the correct time, which is the key objective of enterprises in the global market. In addition, PLM offers several benefits such as production cost minimization, reliability enhancement, and product quality optimization.
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Among the major geographical segments, in 2014, North America dominated the global PLM market for consumer products and retail end use, holding a 35.7% share in the overall market. The rapid growth of this region can be attributed to the rising adoption by SMEs and penetration of PLM in diverse industries. On the flip side, Latin America and the Middle East and Africa is are estimated to register a 15.9% and 17.2% CAGR between 2015 and 2022, respectively.
Furthermore, the research report covers the competitive landscape of the market, including detailed profiles of the players along with their business strategies, financial overview, and SWOT analysis. Some of the prominent players operating in the market are Oracle Corporation, SAP SE, Atos SE, PTC, Inc., Infor, Dassault Systemes, Selerant Corporation, Accenture PLC, Hewlett-Packard Company, IBM Corporation, Gerber Scientific, Inc., Centric Software, and Autodesk, Inc.
North America led the global overall PLM market for consumer products and retail end-use market in 2014 with the share of about 35.7% in 2014. North America is the most significant market for PLM and its growth is majorly driven by the expansion of the PLM footprint in large enterprises, increasing adoption by SMEs, and penetration of PLM in new industries, such as consumer goods, retail, and telecom. Growing demand for features such as analytics and mobility would be the key trends in the North American PLM market. On account of new opportunities, the MEA and Latin America PLM market for consumer products and retail end-use is expected to expand at a CAGR of 17.2% and 15.9%, respectively, during the forecast period from 2015 to 2022.
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