Product Lifecycle Management Market Growth, Revenue Share Analysis, Company Profiles and Forecast to 2030

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Increased focus on developing breakthrough smart products is a key driver for market growth

VANCOUVER, BRITISH COLUMBIA, CANADA, Sept. 6, 2022 /EINPresswire.com/ — Product Lifecycle Management Market Growth, Revenue Share Analysis, Company Profiles and Forecast to 2030

The latest report titled “Global Product Lifecycle Management Market” published by Emergen and Research provides the reader with a comprehensive view of the global Large Scale Computing industry, acquainting them with the latest market trends, information on industry and market share. The report provides an in-depth investigation of the global market, primarily focusing on each segment and sub-segment of the Product Lifecycle Management market.

The Product Lifecycle Management (PLM) market size was USD 27.50 billion in 2021 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to the latest analysis from ‘Emergen Research. Increased focus on developing breakthrough smart products is a key driver of market revenue growth. Additionally, the increased marketing efficiency offered by PLM systems is a major trend that is expected to drive the revenue growth of the global market. Product lifecycle management (PLM) helps organizations develop and introduce new products to market. This software makes it easy to track and share data across the entire product value chain, from initial design to manufacturing, supply chain management and operations, and asset maintenance. PLM plays a vital role in helping manufacturers develop the next generation of products, at lower cost and with faster time to market. PLM provides a collaborative environment for teams to discuss and resolve issues at an early stage. It allows product information to move effortlessly between teams and data to be accessed from any platform in the world.

However, planned obsolescence is a major drawback of PLM systems. Companies artificially build in the later stages of the lifecycle because lifecycle management actually dictates that old products will be replaced by new ones. For example, a manufacturer may produce a new model year product with sockets that are incompatible with the previous year’s product, or a software vendor may expressly choose to discontinue support for a product simply because it is obsolete. This results in waste as consumers are forced to upgrade, throwing away things that could have been useful to them in other ways.

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Competitive outlook:

This section of the report conducts an in-depth investigation of the fiercely competitive landscape of the global Product Lifecycle Management market, highlighting the major manufacturers, strategic initiatives adopted by them, existing growth prospects, positions in the market and the market shares held by each participant. The report places more emphasis on the development strategies undertaken by these companies, including product innovation, new product launch, and technology upgrading. Moreover, the report studies notable business events observed in this industry such as mergers and acquisitions, joint ventures, partnerships, corporate agreements, and brand promotions. Major industry participants are: Siemens AG, Oracle Corporation, Dassault Systemes, Autodesk, Inc., Aras Corporation, IBM, Kalypso, Accenture, Bamboo Rose and Propel.

Market Segmentation of Product Lifecycle Management Market

Emergen Research has segmented the PLM market based on deployment mode, software, end-use, and region:

Deployment Mode Outlook (Revenue, USD Billion; 2019-2030)
Cloud

On the site

Software Outlook (Revenue, USD Billion; 2019-2030)
Portfolio Management

Simulation and change management

Quality management

Manufacturing Operations Management

Design and Engineering Management

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)
Automotive and Transportation

IT & Telecom

Aerospace and Defense

Others

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Some Key Highlights of the Product Lifecycle Management Market

The cloud segment is expected to register significant growth in market revenue owing to the fact that cloud-based PLM systems facilitate product implementation, upgrade and customization.

The design and engineering segment is expected to grow significantly owing to the continued digitalization and rapid spread of connected value chains.

The automotive and transportation segment is expected to record sustained growth. The increasing use of digital manufacturing and the integration of IoT in the production of smart automobiles is expected to drive the market growth in the automotive industry.

North America should register a considerable growth rate. Market players in the region can invest heavily in new solutions, such as IoT, augmented reality, telecommunications technology and connected industries due to their strong financial position, providing a competitive advantage in the market.

Market Size – USD 27.50 Billion in 2021, Market Growth – at a CAGR of 8.2%, Market Trends – Increased marketing effectiveness offered by PLM systems

Key insights presented about the Product Lifecycle Management market

Market revenue share by major business players, by type, by application, and market scope of the global Product Lifecycle Management market

Turnover of the main players and new entrants

Competitive analysis of key players including aspects such as business overview, product or service specifications, suppliers and buyers

Recent mergers, acquisitions, product launches, recent investments and joint ventures

Regional analysis to provide insight into recent trends and opportunities

Regional Segmentation of the Product Lifecycle Management Market

North America (USA, Canada)

Europe (UK, Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)

In conclusion, the report provides qualitative and quantitative analysis of the global Product Lifecycle Management market, including global and regional market analysis. The study covers critical information and factual data about the Product Lifecycle Management industry, along with in-depth statistical analysis of market drivers, limitations, growth prospects, opportunities, and threats . Based on the current scope of the market, the report provides an in-depth analysis of how the Product Lifecycle Management market is expected to perform in the forecast timeline. The report uses advanced analytical tools to offer an estimation outlook on the global state of the Product Lifecycle Management industry.

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Thank you for reading our report. Please contact us if you have any questions regarding the report or its customization. Our team will ensure that the report is best suited to your needs.

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