Product Lifecycle Management Market

Introduction of the Product Lifecycle Management Market Report

Product lifecycle management (PLM) can be defined as the management of all data related to the design, production, sales, marketing, support, service, and ultimate disposal of manufactured goods across the supply chain. The PLM helps in aligning and integrating key resources, making product information accessible to teams, better decision-making for pricing and promotion across the organization.

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Market Dynamic

Key Drivers and Emerging Trends

Growing digital transformation trends together with the integration of advanced technologies such as IoT, artificial intelligence, machine learning, big data analytics across manufacturing, energy & utilities, healthcare, retail, and transportation industries is expected to drive the growth of the product lifecycle management market size. In addition, the PLM software helps organizations developing new products, tracking and sharing data along the product value chain, improving product safety, increasing sales opportunities, maximising supply chain collaboration, and reducing errors and waste. This is expected to augment the product lifecycle management market share growth over the forecast period. Moreover, the growing demand to improve product quality, develop complex smart products, and reducing time to sell the product in the competitive market is further expected to propel the growth of the PLM market.

Restraint in the Product Lifecycle Management Market

However, high cost and complexity related to the development PLM software and IT infrastructure is expected to restrain the growth of the PLM market size. Low awareness among small and medium scale enterprises pertaining the advantages of PLM software and services is further hampering the PLM market share growth.

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Component – Segment Analysis

Based on the component, software segment is expected to account for a high share in the market owing to the for increasing application of PLM software including Collaborative Product Definition Management (cPDm), Mechanical Computer Aided-Design (MCAD), Simulation and Analysis (S&A) among others for managing smart, complex, and connected product development processes across an organization.

Deployment Mode – Segment Analysis

Based on the deployment mode, cloud based segment is anticipated to grow significantly over the forecast period primarily due to the scalability and secure IT infrastructure of cloud computing environment. Growing adoption of cloud based PLM solutions in small and medium enterprises is further accelerating the market growth.

End-User – Segment Analysis

Based on the end-user, automotive industry is expected to hold a notable market share. This can be attributed to the development of new intelligent transport systems and the rapid adoption of electric vehicles. Moreover, according to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with 40% year-on-year increase and accounted for 2.6% of the global car sales.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a high market share owing to the presence of major players in region including IBM Corporation, Oracle Corporation involved in research and development PLM solutions. Additionally, rising adoption of IoT in the production of smart vehicles is further contributing to the market growth.

Top Market Players

Several Leading players operating in the market, include, SAP SE, Autodesk Inc., Dassault Systemes SE, Microsoft Corporation, Atos SE, Siemens AG, International Business Machines Corporation, Oracle Corporation, HP Development Company, L.P., and PTC, Inc. among others. 

Key Developments: 

• • In 2020, PTC Inc. announced enhancement of windchill product life cycle management (PLM) platform with the addition of integrated software management and system engineering capabilities. The windchill will now include built-in linking and tracing between product data management and systems engineering, requirements management, source code management, and testing.

Segments covered in the Report:

The global Product Lifecycle Management Market has been segmented on the basis of component, deployment mode, end-user, and key regions. Based on component, the market is segmented into software and services. Based on deployment mode, the market is segmented into on-premise and cloud. Based on the end-user, the market is segmented into automotive, industrial machinery and heavy equipment, aerospace and defence, semiconductor and electronics, energy and utilities, retail and consumer goods, healthcare and life sciences, and others. 

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Key questions answered in this research report:

• • At what pace is global Product Lifecycle Management Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Product Lifecycle Management Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Product Lifecycle Management Market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various end-users of global Product Lifecycle Management Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Deployment Mode, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	SAP SE, Autodesk Inc., Dassault Systemes SE, Microsoft Corporation, Atos SE, Siemens AG, International Business Machines Corporation, Oracle Corporation, HP Development Company, L.P., and PTC, Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Product Lifecycle Management Market by Component

• • Software
  • Collaborative Product Definition Management (cPDm) Software
  • Mechanical Computer Aided-Design Software (MCAD)
  • Simulation and Analysis (S&A) Software
  • Digital Manufacturing (DM) Software
  • Services

Global Product Lifecycle Management Market by Deployment Mode

• • On-Premise
  • Cloud

Global Product Lifecycle Management Market by End-User

• • Automotive
  • Industrial Machinery and Heavy Equipment
  • Aerospace and Defence
  • Semiconductor and Electronics
  • Energy and Utilities
  • Retail and Consumer Goods
  • Healthcare and Life Sciences
  • Others

Global Product Lifecycle Management Market by Region

• • North America Product Lifecycle Management Market (Option 1: As a part of the free 25% customization)
    • North America Product Lifecycle Management Market by Component
    • North America Product Lifecycle Management Market by Deployment Mode
    • North America Product Lifecycle Management Market by End-User
    • US Product Lifecycle Management Market All-Up
    • Canada Product Lifecycle Management Market All-Up
  • Europe Product Lifecycle Management Market (Option 2: As a part of the free 25% customization)
    • Europe Product Lifecycle Management Market by Component
    • Europe Product Lifecycle Management Market by Deployment Mode
    • Europe Product Lifecycle Management Market by End-User
    • UK Product Lifecycle Management Market All-Up
    • Germany Product Lifecycle Management Market All-Up
    • France Product Lifecycle Management Market All-Up
    • Spain Product Lifecycle Management Market All-Up
    • Rest of Europe Product Lifecycle Management Market All-Up
  • Asia-Pacific Product Lifecycle Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Product Lifecycle Management Market by Component
    • Asia-Pacific Product Lifecycle Management Market by Deployment Mode
    • Asia-Pacific Product Lifecycle Management Market by End-User
    • China Product Lifecycle Management Market All-Up
    • India Product Lifecycle Management Market All-Up
    • Japan Product Lifecycle Management Market All-Up
    • Rest of APAC Product Lifecycle Management Market All-Up
  • RoW Product Lifecycle Management Market (Option 4: As a part of the free 25% customization)
    • RoW Product Lifecycle Management Market by Component
    • RoW Product Lifecycle Management Market by Deployment Mode
    • RoW Product Lifecycle Management Market by End-User
    • Brazil Product Lifecycle Management Market All-Up
    • South Africa Product Lifecycle Management Market All-Up
    • Saudi Arabia Product Lifecycle Management Market All-Up
    • UAE Product Lifecycle Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Product Lifecycle Management Market All-Up

Major Players Operating in the Product Lifecycle Management Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • SAP SE
  • Autodesk Inc.
  • Dassault Systemes SE
  • Microsoft Corporation
  • Atos SE
  • Siemens AG
  • International Business Machines Corporation
  • Oracle Corporation
  • HP Development Company, L.P.
  • PTC, Inc.