Global Product Lifecycle Management (PLM) Software Market - Segmented, by Deployment Type (On-premise, Cloud), Solution Type, Mechanical Computer-aided Design (MCAD)), End-user Industry, and Region - Growth, Trends, and Forecast (2022 - 2030)
The Product Life Cycle Management (PLM) Software market was valued at USD 43.5 billion in 2017 and is expected to reach USD 63.2 billion by 2023, registering a CAGR of 6.4% during the forecast period (2018 - 2023). The report profiles the on-cloud and on-premise providers of product life cycle management software and service for various industries.
Product lifecycle management (PLM) software is a process, which supports in coordinating and managing the complex cross-functional practices, thereby, delivering the best possible product. The PLM Systems, as an enabling technology for PLM, leads the product from its conception and manufacturing to its retirement and disposal. The PLM systems offer optimization in the development process by giving a competitive and cost-effective solution with high quality. The factors, such as growing need for enhanced and sustainable solutions by manufacturers, need for integrated solutions, and dynamic feature of flexible scale-up or scale-down infrastructure are expected to boost the PLM market.
However, issues related to high cost and complexity related to PLM software are estimated to challenge the growth of the market.
Automotive Sector is expected to grow at a Significant Rate
Many automotive manufacturing companies need PLM software as it deals with various functional levels of an organization, such as product designing, design engineering, and manufacturing. The increasing use of digital manufacturing and rising integration of IoT in producing intelligent cars is one of the key trends that is expected to drive PLM software market in the automotive sector, during the forecast period. Tesla has integrated ENOVIA (cPDM software) and CATIA (CAD software) with DELMIA to simulate the manufacturing facility and process in the manufacturing of its Model S.
The need for safety features in automobiles is further expected to drive the market for PLM in the automotive industry during the forecast period. The increase in the number of deaths by road accidents has forced governments across the world to adopt better safety features in their automobiles, which, in turn, is expected to reduce the number of deaths caused by accidents. For instance, Mandatory crash tests for all vehicles in India initiated in 2014. Safety standards are expected to be enforced entirely by 2018.
North America is expected to have Highest Market Share
North America’s strong financial position enables it to invest heavily in advanced solutions and technologies. These advantages have provided the organizations, in the region, a competitive edge in the market. Moreover, the region has the presence of several major product lifecycle management software vendors, such as IBM Corp. (United States), PTC Inc. (United States), Oracle Corporation (United States), and hence, there is a strong competition among the players.
In 2016, the United States light vehicle production reached almost 12 million passenger vehicles, and sales reached up to 17.5 million units in 2016. As PLM software is used in the manufacture and research and development of motor vehicles, such as passenger cars, light commercial vehicles, heavy vehicles, and electric cars, the market for PLM software is set to grow rapidly in the region.
Key Developments in the Market
• April 2018: BigLever Software collaborated with PTC Inc. to deliver a new bridge solution that integrates PTC’s Windchill Product Lifecycle Management (PLM) solution with BigLever’s industry-standard Gears PLE Lifecycle Framework. This partnership with PTC is a significant step forward for BigLever and the continued expansion of the PLE Ecosystem of integrated tools, which is a vital part of its holistic onePLE solution.
• August 2017: Siemens acquired TASS International, a global provider of simulation software, plus engineering and test services aimed primarily at the automotive industry to further strengthen Siemens' PLM Software automotive offering.
Major Players: IBM CORPORATION, ORACLE CORPORATION, PTC INC., ARAS CORPORATION, SIEMENS AG, ARENA TECHNOLOGIES LLC, AUTODESK INC., ACCENTURE PLC, DASSAULT SYSTÈMES SA, HEWLETT PACKARD ENTERPRISE COMPANY, INFOR INC., SAP SE and OMNIFY SOFTWARE, INC., among others.
Reasons to Purchase this Report
• Impact of growth of product life cycle management software on the market
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segments that are expected to dominate the market
• Regional analysis of the market during the forecast period
• Latest developments, market shares, and strategies employed by the major market players and key innovators
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Product lifecycle management (PLM) software is a process, which supports in coordinating and managing the complex cross-functional practices, thereby, delivering the best possible product. The PLM Systems, as an enabling technology for PLM, leads the product from its conception and manufacturing to its retirement and disposal. The PLM systems offer optimization in the development process by giving a competitive and cost-effective solution with high quality. The factors, such as growing need for enhanced and sustainable solutions by manufacturers, need for integrated solutions, and dynamic feature of flexible scale-up or scale-down infrastructure are expected to boost the PLM market.
However, issues related to high cost and complexity related to PLM software are estimated to challenge the growth of the market.
Automotive Sector is expected to grow at a Significant Rate
Many automotive manufacturing companies need PLM software as it deals with various functional levels of an organization, such as product designing, design engineering, and manufacturing. The increasing use of digital manufacturing and rising integration of IoT in producing intelligent cars is one of the key trends that is expected to drive PLM software market in the automotive sector, during the forecast period. Tesla has integrated ENOVIA (cPDM software) and CATIA (CAD software) with DELMIA to simulate the manufacturing facility and process in the manufacturing of its Model S.
The need for safety features in automobiles is further expected to drive the market for PLM in the automotive industry during the forecast period. The increase in the number of deaths by road accidents has forced governments across the world to adopt better safety features in their automobiles, which, in turn, is expected to reduce the number of deaths caused by accidents. For instance, Mandatory crash tests for all vehicles in India initiated in 2014. Safety standards are expected to be enforced entirely by 2018.
North America is expected to have Highest Market Share
North America’s strong financial position enables it to invest heavily in advanced solutions and technologies. These advantages have provided the organizations, in the region, a competitive edge in the market. Moreover, the region has the presence of several major product lifecycle management software vendors, such as IBM Corp. (United States), PTC Inc. (United States), Oracle Corporation (United States), and hence, there is a strong competition among the players.
In 2016, the United States light vehicle production reached almost 12 million passenger vehicles, and sales reached up to 17.5 million units in 2016. As PLM software is used in the manufacture and research and development of motor vehicles, such as passenger cars, light commercial vehicles, heavy vehicles, and electric cars, the market for PLM software is set to grow rapidly in the region.
Key Developments in the Market
• April 2018: BigLever Software collaborated with PTC Inc. to deliver a new bridge solution that integrates PTC’s Windchill Product Lifecycle Management (PLM) solution with BigLever’s industry-standard Gears PLE Lifecycle Framework. This partnership with PTC is a significant step forward for BigLever and the continued expansion of the PLE Ecosystem of integrated tools, which is a vital part of its holistic onePLE solution.
• August 2017: Siemens acquired TASS International, a global provider of simulation software, plus engineering and test services aimed primarily at the automotive industry to further strengthen Siemens' PLM Software automotive offering.
Major Players: IBM CORPORATION, ORACLE CORPORATION, PTC INC., ARAS CORPORATION, SIEMENS AG, ARENA TECHNOLOGIES LLC, AUTODESK INC., ACCENTURE PLC, DASSAULT SYSTÈMES SA, HEWLETT PACKARD ENTERPRISE COMPANY, INFOR INC., SAP SE and OMNIFY SOFTWARE, INC., among others.
Reasons to Purchase this Report
• Impact of growth of product life cycle management software on the market
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segments that are expected to dominate the market
• Regional analysis of the market during the forecast period
• Latest developments, market shares, and strategies employed by the major market players and key innovators
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
