ARC’s new report on product lifecycle management (PLM) finds that healthy growth is expected as innovative technologies, complex product needs, and digital transformation challenges are being solved by enhanced PLM solution sets. Automotive and aerospace industries were hit hard by the pandemic but are expected to resurge. The medical device and pharmaceutical industries are projected to see strong growth, while new interest from the process industries will provide ample new opportunities for major suppliers.
"The Global PLM market will grow at a high single-digit, 5-year CAGR through 2025. Despite the overarching macroeconomic pressures of the global COVID-19 pandemic, trade tensions, supply chain issues, and political unrest, the PLM market bounced back quite robustly in the second half of 2020. In fact, several suppliers boasted double-digit year-over-year growth in 2020. Cloud adoption, especially among small and medium businesses, is fueling double-digit growth over the forecast period. Almost all the key vendors are offering these appealing avenues by lowering cost of entry, providing new-limitless scalability, and managing integration and adoption updates," according to Marianne D'Aquila, Market Analyst and key author of ARC's Product Lifecycle Management Market Research Report.
Product Lifecycle Management Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Collaborative and Co-innovation Capabilities Are Critical
- Digital Twins and Digital Simulation Are Becoming More Significant
- Electrical Vehicles and Products Are Increasing Demand
- Innovative Transformative Technologies Will Increase Demand
- Integration of IoT Analytics in Differentiating PLM Platforms
- SaaS, Subscription and Cloud Deployment Offer Appealing Avenues for Adoption
- The COVID-19 Pandemic Is Driving Digital Transformation
Leading Suppliers to the Product Lifecycle Management Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Ansys, Dassault Systemes, PTC, SAP, Siemens.
About the Product Lifecycle Management Research
The Product Lifecycle Management report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts and up to 5 years of historical analysis segmented by World Region, Industry, Application, Deployment Model, and Customre Size.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports. Available with up to 5 years of historical analysis.
- Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.