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 by Emergen Research. Increasing focus on developing groundbreaking smart products is a key factor driving revenue growth of the market. In addition, increased efficiency in marketing offered by PLM systems is a major trend that is expected to drive revenue growth of the global market. Product Lifecycle Management (PLM) helps organizations to develop and introduce new products in the market. This software makes it easy to track and share data along with product value chain, from initial design through manufacturing, supply chain management and operations, and asset maintenance. PLM plays a critical role in helping manufacturers to develop the next generation of products, at a lower cost and with a 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 around the world.

The pandemic has affected nearly all segments of the Product Lifecycle Management It has further hampered the developmental scope of various manufacturers and buyers engaged in this sector. Thus, the report studies the industry’s shifting dynamics to scrutinize the profits earned or loss suffered by different segments.

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Product Lifecycle Management Market -Competitive Outlook:

Siemens AG, Oracle Corporation, Dassault Systemes, Autodesk, Inc., Aras Corporation, IBM, Kalypso, Accenture, Bamboo Rose and Propel.

Some Key Highlights From the Report

The cloud segment is expected to register a significant market revenue growth owing to the fact that cloud-based PLM systems make it easier to implement, upgrade, and customize products.

The design and engineering segment is expected to grow considerably due to continuous digitalization and rapid spread of connected value chains.

The automotive and transportation segment is expected to register a steady growth. Expanding usage of digital manufacturing and integration of IoT in production of smart automobiles is expected to drive market growth in the automotive industry.

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

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Product Lifecycle Management Market Segmentation:

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-Premises

Software Outlook (Revenue, USD Billion; 2019–2030)

Portfolio Management

Simulation & Change Management

Quality Management

Manufacturing Operations Management

Design & Engineering Management

Others

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Automotive & Transportation

IT & Telecom

Aerospace & Defense

Others

The report addresses the following key points:

The report estimates the expected market size from 2022-2030

The report provides a forecast of market drivers, restraints, and future opportunities for the 777 market

The report further analyses the changing market dynamics

Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth

Extensive competitive landscape mapping with profiles of the key competitors

Regional Segmentation

North America (U.S., Canada)

Europe (U.K., 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 & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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

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