Industry Background:
Product life cycle management (PLM) is the process of integrating all elements of a product's life cycle, from conception to disposal of the product and its components. Companies that manufacture items face a variety of challenges that aren't related to design and production. Product lifecycle management (PLM) addresses these challenges by assisting in the alignment and integration of critical resources, as well as providing rapid access to product information to teams across the business. PLM helps in decision making and in making a suitable strategy for a product. North America is the largest market for product life cycle management followed by the Asia Pacific due to large manufacturing activity.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Oracle (United States), Lascom (United States), SAP (Germany), Dassault System (France), PTC (United States), Siemens (Germany), Autodesk (United States), IBM (United States), Surefront (United States) and Atos (France) |
This growth is primarily driven by Need Of Product Lifecycle Management to Streamline the Production Activities and Need Of Product Life Cycle Management to Handle Complexity of Developing New Products.
Globally, a noticeable market trend is evident Growing Prevalence of Product Life Cycle Management Software The Business Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Oracle (United States), Lascom (United States), SAP (Germany), Dassault System (France), PTC (United States), Siemens (Germany), Autodesk (United States), IBM (United States), Surefront (United States) and Atos (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 24th Nov 2020, Aptean, a global provider of mission-critical enterprise software solutions, signed a definitive agreement to buy Lascom, a leader in product lifecycle management (PLM) solutions for the manufacturing sector, which includes companies in the food and beverage, personal care, cosmetics, and retail industries. Aptean will use this purchase to extend its cloud-native solution offerings, complementing its ERP leadership and bolstering its European footprint.
In June 2021, Platform for business-to-business communication Surefront launched an end-to-end product lifecycle management (PLM) software to assist companies to speed product development and minimize carbon emissions. Even if all stakeholders are not in the same area, the PLM allows developers to navigate product development from idea through ready-to-market phases from a single location. The platform stores and displays product data, communications, and graphics in the cloud removing the need to ship or travel with samples to exchange with development and purchasing partners.
Influencing Trend:
Growing Prevalence of Product Life Cycle Management Software
Market Growth Drivers:
Need Of Product Lifecycle Management to Streamline the Production Activities and Need Of Product Life Cycle Management to Handle Complexity of Developing New Products
Challenges:
Varying Market Conditions Is Challenge for Product Life Cycle Management and Generally, Product Life Cycle Is Applicable to Products Only and Not to Brands
Restraints:
Rigid Product Life Cycle Management Systems May Lead to Wastage of Time
Opportunities:
Increasing Manufacturing Activity in Developing Nations Is an Opportunity for Product Life Cycle Management and Increasing Reliance on Product Life Cycle Management for Strategy Making Will Increase Its Demand
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Product Life Cycle Management Market
- Analysis about New Entrants in Product Life Cycle Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Product Life Cycle Management Study Sheds Light on
The Product Life Cycle Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Product Life Cycle Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Product Life Cycle Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.