Product Lifecycle Management Market Report 2022 – Size, Growth, Trends, Forecast to 2030

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The product lifecycle management market size is expected to surpass around US$ 50.60 billion by 2030, growing at a registered CAGR of 9.2% during forecast period 2021 to 2030. The growing need to support complex functionalities, the unabated establishment of smart factories and rollout of smart value chains, and the continued integration of the Internet of Things (IoT) with PLM solutions are some of the main drivers that are expected to drive the growth of the market over the forecast period.

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The global product lifecycle management market size was valued at US$ 28.30 billion in 2020. The rising demand for product innovation, productivity enhancement, reduction in operational costs, as well as increasing deployment of PLM solutions in non-traditional end use sectors such as consumer products and retail, and medical devices and pharmaceutical are some of the key factors driving the growth of the Product Lifecycle Management (PLM) market globally.

North America dominated the global market in 2020 with a market share of over 38%. North America has always been a leader in incorporating the latest, advanced IT and telecommunications technologies. Large enterprises in North America are particularly upgrading their PLM solutions in line with the evolving technology trends to aid in customer-centric product development.

Automated Management of Labels in F&B Bolsters Adoption of Product lifecycle Management

Product Lifecycle Management (PLM) is being adopted by F&B (Food & Beverage) manufacturers for product innovation and transparency in production practices. Stringent compliance pressures and the ever-increasing demand for quality products have catalyzed the adoption of PLM in F&B companies. F&B manufacturers are benefitting from PLM, since these software deliver important data about the likelihood of projects being successful. Product lifecycle management helps in regulatory compliance for labels and ingredients, which helps to increase product uptake.

Efficient information management has become instrumental to achieve transparency in internal and external processes. Hence, companies in the Product Lifecycle Management (PLM) market are innovating in software that effectively manage customer inquiries. Automated management of labels is another key driver that is bolstering growth for the Product Lifecycle Management (PLM) market, which is estimated to cross a value of US$ 50.60 Bn by the end of 2030.

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Need For Engagement with Extended Supply Chain Triggers PLM Adoption in Defense

Apart from consumer goods and the retail sector, vendors in the product lifecycle management (PLM) market are tapping into opportunities in the aerospace & defense sector. Since products used in the aerospace & defense industry are potentially complex and interdependent, end users are raising the demand for PLM software. In the face of constant innovation in the aerospace & defense sector, companies are making available advanced PLM systems that are capable of streamlining the flow of information. With the help of the product lifecycle management, users in the aerospace & defense sector can better engage with the extended supply chain and practice simultaneous development among cross-department teams.

Companies in the product lifecycle management market are innovating in software that help to improvise the performance in aircraft production and reduce costs. For instance, UEC Saturn— a Russian aircraft engine manufacturer is acquiring global recognition with its PLM software NPO Saturn by joining forces with the Siemens PLM Software technologies.

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Flexible and Adaptable Software Solutions Win Over Rigid Software Structures

Most manufacturing organizations use the product lifecycle management software after some point in their company’s lifetime. However, several PLM software are rigid structures that lead to wasted time and costly workarounds. Hence, companies in the product lifecycle management market are increasing their R&D capabilities to develop flexible and adaptable software solutions that work efficiently. This can be attributed to the ever-evolving technology in PLM is constantly changing.

The next-gen product lifecycle management software is capable of deploying analytical and data-driven approaches in today’s fast-paced and customer-centric businesses. The Product Lifecycle Management (PLM) market is undergoing a sea change with the outside-in approach the vendors are adopting in order to ensure customer satisfaction. With the help of PLM, end users are able to calculate and anticipate changing demands of customers.

Report Highlights

The design and engineering management segment accounted for a market share exceeding 35% in 2020. The design and engineering processes are evolving continuously in line with the unabated advances in technology. The lean and collaborative product development approaches being pursued progressively by businesses are the core of product lifecycle management.

The simulation, testing, and change management segment is expected to emerge as the fastest-growing segment over the forecast period. Simulation and testing management solutions help organizations in managing and controlling the simulation processes, tools, data, and workflows in the context of an overall product lifecycle management system.

The cloud segment accounted for the largest revenue share of more than 75% in 2020 and is expected to register a CAGR of over 7.05% from 2021 to 2030. SaaS deployment is emerging as the most preferred way for the deployment of PLM software.

The automotive and transportation segment accounted for the largest market share of over 24% in 2020.PLM software allows the incumbents of the automotive industry to track defects in automobiles and respond to customer concerns, thereby reducing the product dispatch time in the field.

The growing demand for PLM solutions across other industries and industry verticals, such as aerospace and defense, medical devices, pharmaceuticals, consumer products, and retail, also bodes well for the growth of the market over the forecast period.

North America dominated the global market in 2020 with a market share of over 38%. North America has always been a leader in incorporating the latest, advanced IT and telecommunications technologies. Large enterprises in North America are particularly upgrading their PLM solutions in line with the evolving technology trends to aid in customer-centric product development.

Key Players

  • ANSYS, Inc.
  • Aras Corporation
  • Arena Solutions, Inc.
  • Oracle Corporation
  • SAP SE
  • AUTODESK, INC.
  • Siemens AG
  • PTC Inc.
  • DassaultSystèmes
  • Synopsys Inc.

Market Segmentation

  • Software
    • Portfolio Management
    • Design & Engineering Management
    • Quality & Compliance Management
    • Simulation, Testing, & Change Management
    • Manufacturing Operations Management
    • Others
  • Deployment
    • On-premise
    • Cloud
  • End-use
    • Aerospace & Defense
    • Automotive & Transportation
    • Healthcare
    • IT & Telecom
    • Industrial Equipment & Heavy Machinery
    • Retail
    • Semiconductor & Electronics
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa (MEA)

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Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Deployment Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Product Lifecycle Management Market, By Software

7.1.  Product Lifecycle Management Market, by Software, 2021-2030

7.1.1.    Portfolio Management

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Design & Engineering Management

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Quality & Compliance Management

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Simulation, Testing, & Change Management

7.1.4.1.        Market Revenue and Forecast (2017-2030)

7.1.5.    Manufacturing Operations Management

7.1.5.1.        Market Revenue and Forecast (2017-2030)

7.1.6.    Others

7.1.6.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Product Lifecycle Management Market, By Deployment

8.1.  Product Lifecycle Management Market, by Deployment, 2021-2030

8.1.1.    On-premise

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Cloud

8.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Product Lifecycle Management Market, By End User

9.1.  Product Lifecycle Management Market, by End User, 2021-2030

9.1.1.    Aerospace & Defense

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Automotive & Transportation

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Healthcare

9.1.3.1.        Market Revenue and Forecast (2017-2030)

9.1.4.    IT & Telecom

9.1.4.1.        Market Revenue and Forecast (2017-2030)

9.1.5.    Industrial Equipment & Heavy Machinery

9.1.5.1.        Market Revenue and Forecast (2017-2030)

9.1.6.    Retail

9.1.6.1.        Market Revenue and Forecast (2017-2030)

9.1.7.    Semiconductor & Electronics

9.1.7.1.        Market Revenue and Forecast (2017-2030)

9.1.8.    Others

9.1.8.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Product Lifecycle Management Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Software (2017-2030)

10.1.2.  Market Revenue and Forecast, by Deployment (2017-2030)

10.1.3.  Market Revenue and Forecast, by End User (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Software (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Software (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Software (2017-2030)

10.2.2.  Market Revenue and Forecast, by Deployment (2017-2030)

10.2.3.  Market Revenue and Forecast, by End User (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Software (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Software (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Software (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Software (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Software (2017-2030)

10.3.2.  Market Revenue and Forecast, by Deployment (2017-2030)

10.3.3.  Market Revenue and Forecast, by End User (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Software (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Software (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Software (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Software (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Software (2017-2030)

10.4.2.  Market Revenue and Forecast, by Deployment (2017-2030)

10.4.3.  Market Revenue and Forecast, by End User (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Software (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Software (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Software (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Software (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Software (2017-2030)

10.5.2.  Market Revenue and Forecast, by Deployment (2017-2030)

10.5.3.  Market Revenue and Forecast, by End User (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Software (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Software (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Deployment (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2017-2030)

Chapter 11.  Company Profiles

11.1.              ANSYS, Inc.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Aras Corporation

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Arena Solutions, Inc.

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              Oracle Corporation

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              SAP SE

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              AUTODESK, INC.

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Siemens AG

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              PTC Inc.

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              DassaultSystèmes

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           Synopsys Inc.

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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