Global Product Lifecycle Management Market, By Software (Collaborative Product Definition Management (cPDm) Software, Mechanical Computer Aided-Design Software (MCAD), Simulation and Analysis (S&A) Software, Digital Manufacturing (DM) Software), Service (Professional Services, Managed Services), Deployment Type (Cloud, On-Premises), Organisation Size (Small and Medium-Sized Enterprises, Large Enterprises), Vertical (Automotive and Transportation, Industrial Machinery and Heavy Equipment, Aerospace and Defense, Semiconductor and Electronics, Energy and Utilities, Retail and Consumer Goods, Healthcare and Life Sciences, Others) - Industry Trends and Forecast to 2030.
Product Lifecycle Management Market Analysis and Size
The global product lifecycle management market is expected to witness market growth at a rate of 7.95% in the forecast period of 2023-2030. The rise in the need for software solutions for change management, bills of materials, cost management, compliance management, data management, and governance management is escalating the growth of global product lifecycle management market. Product life-cycle management (PLM) is referred to as a data system that will integrate data, processes, business systems, and eventually people in a prolonged enterprise. PLM software permits a corporation to manage information throughout the whole lifecycle of a product proficiently and efficiently.
Data Bridge Market Research analyses that the global product lifecycle management market, which was USD 5.4 billion in 2022, is expected to reach USD 54.36 billion by 2030, at a CAGR of 8.6% during the forecast period 2023 to 2030. “Collaborative Product Definition Management (CPDM) Software” is the dominating segment due to CPDM software facilitates collaboration among cross-functional teams, including design, engineering, manufacturing, and supply chain. This real-time collaboration improves communication and coordination across various stages of the product lifecycle, reducing errors and accelerating time-to-market. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Product Lifecycle Management Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015 - 2020) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Software (Collaborative Product Definition Management (cPDm) Software, Mechanical Computer Aided-Design Software (MCAD), Simulation and Analysis (S&A) Software, Digital Manufacturing (DM) Software), Service (Professional Services, Managed Services), Deployment Type (Cloud, On-Premises), Organisation Size (Small and Medium-Sized Enterprises, Large Enterprises), Vertical (Automotive and Transportation, Industrial Machinery and Heavy Equipment, Aerospace and Defense, Semiconductor and Electronics, Energy and Utilities, Retail and Consumer Goods, Healthcare and Life Sciences, Others) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Autodesk Inc. (U.S.), Dassault Systèmes (France), Siemens (Germany), PTC, Inc. (U.S.), IBM (U.S.), Oracle (U.S.), Hewlett-Packard Development Company (U.S.), L.P., ATOS SE (France), Accenture. (U.S.), ANSYS, Inc. (U.S.), Aras. (U.S.), Infor. (U.S.), Propel PLM Inc. (U.S.), Kalypso: A Rockwell Automation Company. (U.S.), FusePLM (U.S.), Bamboo Rose LLC (U.S.), Inflectra Corporation. (U.S.), and Tata Consultancy Services (India) |
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Market Opportunities |
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Market Definition
The product lifecycle management (PLM) refers to the industry that provides tools, software, services, and solutions designed to support organizations in efficiently managing and optimizing the entire lifecycle of their products or services. This comprehensive approach spans from initial ideation and design through engineering, manufacturing, distribution, maintenance, and eventual retirement or replacement.
Global Product Lifecycle Management Market Dynamics
Drivers
- Rising Growth of the Cloud PLM Market
The cloud PLM market is expected to grow at a faster rate than the overall PLM market in the coming years. This is being driven by the benefits of cloud computing, such as scalability, affordability, and ease of use.
- Growing Adoption of PLM Solutions in Emerging Markets
PLM solutions are gaining popularity in emerging markets such as China, India, and Brazil. This is being driven by the rapid economic growth in these countries and the increasing focus on manufacturing.
Opportunity
- Increasing Demand for Product Innovation and Development
Businesses are under increasing pressure to innovate and develop new products to meet the changing needs of their customers. PLM solutions can help businesses to streamline the product development process and bring new products to market faster.
Restraints/Challenges
- High Cost of Implementation
PLM solutions can be expensive to implement, especially for SMEs. This can be a barrier to adoption for many businesses
- Complexity of PLM Solutions
PLM solutions can be complex to use, especially for businesses that are new to PLM. This can lead to resistance from users and can make it difficult to implement and use PLM effectively.
This global product lifecycle management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global product lifecycle management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In March 2023, Siemens and IBM join forces to expedite sustainable business growth. Siemens, in partnership with IBM, is working together to drive sustainable business growth by leveraging service lifecycle management. This approach aims to maximize the value derived from product servitization by seamlessly connecting service engineering to service operations
- In January 2023, Siemens Digital Industries Software and IBM have announced an extension of their longstanding partnership. They are now collaborating to create an integrated solution aimed at furthering sustainable business initiatives
Global Product Lifecycle Management Market Scope
The global product lifecycle management market is segmented on the basis of software, service, deployment type, organisation size and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Software
- Collaborative Product Definition Management (Cpdm) Software
- Mechanical Computer Aided-Design Software (MCAD)
- Simulation and Analysis (S&A) Software, Digital Manufacturing (DM) Software
Service
- Professional Services
- Deployment and Integration
- Consulting and Support
- Maintenance
- Managed Services
Deployment Type
- Cloud
- On-Premises
Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Vertical
- Automotive and Transportation
- 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 Regional Analysis/Insights
The global product lifecycle management market is analysed and market size insights and trends are provided by country, software, service, deployment type, organisation size and vertical as referenced above.
The countries covered in the global product lifecycle management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The region of North America has the biggest market share, given the presence of large vendors and the rising popularity of connected services. The region's leading providers' availability of product lifecycle management’s solutions at a lower cost encourages industry expansion.
The Asia-Pacific region is growing at a faster rate due to the growing acceptance of cloud-based solutions, as well as the development and deployment of helpful technologies such as the Internet of Things (IoT). Large-scale digitalization initiatives and an increasing number of start-ups in this region are accelerating the growth of the product lifecycle management business.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Product Lifecycle Management Market Share Analysis
The global product lifecycle management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global product lifecycle management market.
Some of the major players operating in the global product lifecycle management market are:
- Autodesk Inc. (U.S.)
- Dassault Systèmes (France)
- Siemens (Germany)
- PTC, Inc. (U.S.)
- IBM (U.S.)
- Oracle (U.S.)
- Hewlett-Packard Development Company (U.S.)
- L.P., ATOS SE (France)
- Accenture. (U.S.)
- ANSYS, Inc. (U.S.)
- Aras. (U.S.)
- Infor. (U.S.)
- Propel PLM Inc. (U.S.)
- Rockwell Automation Company. (U.S.)
- FusePLM (U.S.)
- Bamboo Rose LLC (U.S.)
- Inflectra Corporation. (U.S.)
- Tata Consultancy Services (India)
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