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Service Lifecycle Management Application Market: Asia Pacific Projected to Witness High Revenue Growth by 2026 End

10-30-2017 12:54 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Service Lifecycle Management Application is a holistic approach that covers the complete service lifecycle of a product throughout its life as a continuous process, thereby enabling a single view of service for better decision making.

Moreover, a service oriented approach through the SLM application also streamlines the product manufacturing process and operations of the organisation.

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https://www.futuremarketinsights.com/reports/service-lifecycle-management-application-market

The global service lifecycle management application market is anticipated to register a CAGR of 7.8% during the forecast period. The global service lifecycle management application market is estimated to be valued at US$ 1288.9 Mn by 2016 end and is expected to reach US$ 2730.8 Mn by 2026, projecting a CAGR of 7.8% between 2016 and 2026.

Factors such as increasing value proposition through increasing profit margins and revenue of end users, improving customer satisfaction and relationship and saving of operational and service costs of the organisation by implementing an SLM application are expected to fuel the growth of the global service lifecycle management application market.

The global service lifecycle management application market is showcasing a growing trend of market consolidation through mergers and acquisitions and partnerships of key software players in the market. Many product launches by software vendors have provided end-use industries with the best breed of service lifecycle management applications.

The Web-Based Software type segment is estimated to account for a significantly high value share of 86.6% in 2016 while the Cloud-Based Software type segment is expected to account for a market value share of 35.5% by 2026 end.

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https://www.futuremarketinsights.com/reports/sample/rep-gb-1973

The Asia Pacific service lifecycle management application market is estimated to be valued at US$ 248.1 Mn by 2016 and is likely to increase to US$ 631.1 Mn by 2026, registering a significantly high CAGR of 9.8% during the forecast period. The market in North America is expected to register a CAGR of 7.5% over the forecast period, reaching a market valuation of US$ 930.8 Mn by 2026.

PTC Inc., Tech Mahindra Limited, Wipro Limited, Siemens AG, Atos SE, Tata Consultancy Services Limited, Oracle Corporation, Astea International Inc., IBM Corporation, and Dessault Systems are some of the main players operating in the global service lifecycle management application market. These companies are consolidating their market position by enhancing their existing SLM solutions portfolio and are launching new digital and cloud-based technology products to increase market share.

About Us

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.

Contact

Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email:sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

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