Product Lifecycle Management (PLM) Software is the product’s life cycle that consists Product development, Product introduction, Product growth, Product maturity and finally Product decline. Product lifecycle management is an information driven business strategy that integrates technology, people, processes and data that manages the entire life cycle of the product. PLM solution collects product information and guide the flow of product life cycle from requirement gathering till its retirement. PLM provides information access to the appropriate personnel at the various stages. It can automate certain steps such as electronic sign-off, information flow and visibility and process triggers.
Global Product Lifecycle Management (PLM) Software Market: Key Players
The research study includes profiles of leading companies operating in the global product lifecycle management (PLM) software market. Key players profiled in the report include: Siemens PLM Software, SAP, Oracle, Dassault Systemes, Aras, Fast React Systems, Dozuki, PROCAD and others.
Siemens introduces integrated program planning and execution solution for aerospace and defense. The solution is designed to help companies in these industries gain competitive advantages to win and execute programs in a more effective and profitable manner.
Drivers for the Global Product Lifecycle Management (PLM) Software Market:
Increase in production of autonomous vehicles drives the growth of product lifecycle management software market. Investments in advanced solutions and technologies are enhancing the growth of product lifecycle management software market. Deployment of product lifecycle management (PLM) software requires vast infrastructure and a personal data center which can be implanted in large enterprises that helps to drives the growth of product lifecycle management software market.
Opportunities for the Global Product Lifecycle Management (PLM) Software Market:
Introduction of cloud in the product lifecycle management (PLM) software will enhance the growth of product lifecycle management (PLM) software market in forecast period. Along with this, support and maintenance services segment for PLM software will also show an opportunity for the growth of product lifecycle management (PLM) software market.
Restrains for the Global Product Lifecycle Management (PLM) Software Market:
Rapid development of cloud computing solutions in SMEs affects the growth of on-premises deployment type which hampers the growth of product lifecycle management (PLM) software market. Along with this, lack of interoperability among dissimilar product versions is also one of the factors that hampers the growth product lifecycle management (PLM) software market.
Region Wise, Global Product Lifecycle Management (PLM) Software Market Analysis:
Region wise, global product lifecycle management (PLM) software market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America held major share in the market because of its growing economic conditions, presence of major players for Product lifecycle management (PLM) software. European countries are also having maximum share in the market followed by Asia Pacific’s countries.
Global Product Lifecycle Management (PLM) Software Market: Product analysis
- PDM
- CAD
- CAE
- FEA
- Other
Global Product Lifecycle Management (PLM) Software Market: Application analysis
- Mechanical Equipment
- Automotive Industry
- Shipping
- Aerospace and Defense
- Other
Global Product Lifecycle Management (PLM) Software Market: Region analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- ASEAN
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of L.A.
- Middle East and Africa
- Turkey
- GCC
- UAE
- South Africa
- Rest of Middle East
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