The Product Lifecycle Management (PLM) Software Market Report 2019-2023 focuses on the global Product Lifecycle Management (PLM) Software status, future forecast, growth opportunity, key market, and key players.
The Product Lifecycle Management (PLM) Software Market report studies the global market size of Product Lifecycle Management (PLM) Software in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Product Lifecycle Management (PLM) Software in these regions. This research report categorizes the global Product Lifecycle Management (PLM) Software market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.
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The various contributors involved in the value chain of Product Lifecycle Management (PLM) Software include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Players covered in this study:-
- IBM Corp.
- PTC Inc.
- SAP SE
- Siemens AG
- Accenture PLC
- Aras Corporation
- Dassault SystÃ¨mes SA
- Hewlett Packard Enterprise Company
- Oracle Corporation
- Arena Technologies LLC
- Omnify Software
- Infor Inc.
Overview of Product Lifecycle Management (PLM) Software Market Research Report 2019-2023:-
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 (2019 – 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 2019.
North America is expected to have Highest Market Share
North Americaâs 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.
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Reasons to Purchase this Report
Key questions answered in the Product Lifecycle Management (PLM) Software Market Report are.
- What will the market size be in 2023 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Product Lifecycle Management (PLM) Software market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
Major Points from TOC of Product Lifecycle Management (PLM) Software Market Research Report 2019-2023:
1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
- RESEARCH METHODOLOGY
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
4.1.1 Rise in Defence Expenditure of Many Countries
4.1.2 Increasing Demand of Lightweight Materials in the Industry
4.2.1 Need for High Investments in R&D
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Analysis
- MARKET SEGMENTATION
1 By Application
5.2 End-user Sector
5.3.2 North America
5.3.4 South America
5.3.5 the Middle East & Africa
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