Digital transformation is the key to address challenges created by the COVID-19 (coronavirus) outbreak. Users in the manufacturing and retail sectors are participating in webinars to stay ahead in competition amidst the coronavirus era. For instance, Centric Software- a Silicon Valley-based software company conducted a seminar in March 2020 that shed light on how digitalization drives business growth with the help of the product lifecycle management software.
Companies in the Product Lifecycle Management (PLM) market should increase efforts to conduct online events that educate users on how they can deploy better collaborations and communication with the help of the PLM software. As such, decline in costs and streamlining of production processes are catalyzing the adoption of PLM. Remote monitoring of production activities is another advantage for users amidst the COVID-19 pandemic that will, in turn, drive the Product Lifecycle Management (PLM) market.
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Product Lifecycle Management (PLM) is being adopted by F&B (Food & Beverage) manufacturers for product innovation and transparency in production practices. Stringent compliance pressures and the ever-increasing demand for quality products have catalyzed the adoption of PLM in F&B companies. F&B manufacturers are benefitting from PLM, since these software deliver important data about the likelihood of projects being successful. Product lifecycle management helps in regulatory compliance for labels and ingredients, which helps to increase product uptake.
Efficient information management has become instrumental to achieve transparency in internal and external processes. Hence, companies in the Product Lifecycle Management (PLM) market are innovating in software that effectively manage customer inquiries. Automated management of labels is another key driver that is bolstering growth for the Product Lifecycle Management (PLM) market, which is estimated to cross a value of US$ 91.9 Bn by the end of 2030.
Cloud product lifecycle management software are being highly publicized in various end markets. This explains why the product lifecycle management (PLM) market is estimated to advance at a favorable CAGR of 5.2% during the assessment period. Easy to implement and real-time collaboration provided by cloud product lifecycle management software is generating value-grab opportunities for companies. As such, PLM helps internal teams and supply chain partners design, develop, and produce high-quality products for its target customers.
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Product lifecycle management supports new product development (NPD) and new product introduction (NPI) in a budget-friendly manner. Companies in the Product Lifecycle Management (PLM) market are capitalizing on the trend of real-time collaboration, which requires information sharing between internal and external teams. Cloud PLM is increasingly replacing on-premises solutions, owing to its advantages of low cost implementation and cheaper maintenance.
Apart from consumer goods and the retail sector, vendors in the product lifecycle management (PLM) market are tapping into opportunities in the aerospace & defense sector. Since products used in the aerospace & defense industry are potentially complex and interdependent, end users are raising the demand for PLM software. In the face of constant innovation in the aerospace & defense sector, companies are making available advanced PLM systems that are capable of streamlining the flow of information. With the help of the product lifecycle management, users in the aerospace & defense sector can better engage with the extended supply chain and practice simultaneous development among cross-department teams.
Companies in the product lifecycle management market are innovating in software that help to improvise the performance in aircraft production and reduce costs. For instance, UEC Saturn— a Russian aircraft engine manufacturer is acquiring global recognition with its PLM software NPO Saturn by joining forces with the Siemens PLM Software technologies.
Most manufacturing organizations use the product lifecycle management software after some point in their company’s lifetime. However, several PLM software are rigid structures that lead to wasted time and costly workarounds. Hence, companies in the product lifecycle management market are increasing their R&D capabilities to develop flexible and adaptable software solutions that work efficiently. This can be attributed to the ever-evolving technology in PLM is constantly changing.
The next-gen product lifecycle management software is capable of deploying analytical and data-driven approaches in today’s fast-paced and customer-centric businesses. The Product Lifecycle Management (PLM) market is undergoing a sea change with the outside-in approach the vendors are adopting in order to ensure customer satisfaction. With the help of PLM, end users are able to calculate and anticipate changing demands of customers.
PLM is primarily used to manage organizational workflows and deploy cross-department engagement. However, product data management (PDM) is a tool to manage product data and keep CAD (Computer-aided Design) files in organized and version-controlled manner. However, companies in the Product Lifecycle Management (PLM) market are increasing efforts to tackle the issue of incompatible formats such as CAD files in PLM, as users create and manage information in native CAD formats and other neutral file formats. In such cases, PDM helps to manage all formats of CAD files.
On the other hand, PDM and PLM are two sides of the same coin, as organizations who are using CAD software need to purchase a PDM system. Moreover, the momentum created by Industry 4.0 exposes the vulnerability of PLM. Hence, companies in the Product Lifecycle Management (PLM) market are suggesting users to make combined use of PDM and PLM to establish better efficiency in organizations.
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Analysts’ Viewpoint
Although the coronavirus outbreak has had a crippling effect on the Product Lifecycle Management (PLM) market, the business isn’t resting everywhere. For instance, Finnish private equity fund manager CapMan has announced to acquire a major stake in IT service management company PDSVISION, which is a leading PLM player in Europe. However, PLM alone poses limitations in resolving problems involved in the Industry 4.0. Hence, companies should educate users to use PLM, along with PDM to streamline processes in Industry 4.0. They should increase the availability of cloud software solutions, owing to its advantages of easy implementation and low cost installation attributes.
Product Lifecycle Management (PLM) Market – Segmentation
TMR’s research study assesses the Product Lifecycle Management (PLM) market on the basis of software, end use, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the Product Lifecycle Management (PLM) market.
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1. Preface
1.1. Market Introduction
1.2. Market Segmentation
1.3. Key Research Objectives
2. Assumptions and Research Methodology
2.1. Research Methodology
2.1.1. List of Primary and Secondary Sources
2.2. Key Assumptions for Data Modelling
3. Executive Summary - Global Product Lifecycle Management (PLM) Market
4. Market Overview
4.1. Market Definition
4.2. Macroeconomic Factors
4.2.1. World GDP Indicator – For Top Economies
4.2.2. Global ICT Spending (US$ Bn)
4.3. Technology/ Product Roadmap
4.4. Market Factor Analysis
4.4.1. Forecast Factors
4.4.2. Ecosystem/ Value Chain Analysis
4.4.3. Market Dynamics (Growth Influencers)
4.4.3.1. Drivers
4.4.3.2. Restraints
4.4.3.3. Opportunities
4.4.3.4. Impact Analysis of Drivers and Restraints
4.5. Market Opportunity Assessment – by Region (North America/ Europe/ Asia Pacific/ Middle East & Africa/ South America)
4.5.1. By Component
4.5.2. By End-use
4.6. COVID-19 Impact Analysis
4.6.1. End-user Sentiment Analysis: Comparative Analysis on Spending
4.6.1.1. Increase in Spending
4.6.1.2. Decrease in Spending
4.6.2. Short Term and Long Term Impact on the Market
4.6.3. Recovery Period (3 Months/6 Months/12 Months)
4.7. Competitive Scenario and Trends
4.7.1. List of Emerging, Prominent, and Leading Players
4.7.2. Mergers & Acquisitions, Expansions
4.8. Market Outlook
5. Global Product Lifecycle Management (PLM) Market Analysis and Forecast
5.1. Market Revenue Analysis (US$ Bn), 2015-2030
5.1.1. Historic Growth Trends, 2015-2019
5.1.2. Forecast Trends, 2020-2030
6. Global Product Lifecycle Management (PLM) Market Analysis, by Component
6.1. Key Segment Analysis
6.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Component, 2018 - 2030
6.2.1. Software
6.2.1.1. On-Premise
6.2.1.1.1. CAD/CAM/CAE (CAx)
6.2.1.1.2. Numerical Control (NC)
6.2.1.1.3. Simulation and Analysis (S&A)
6.2.1.1.4. Electronic Design and Automation (EDA)
6.2.1.1.5. Architecture, Engineering and Construction (AEC)
6.2.1.1.6. Collaborative Product Definition Management (CPDM)
6.2.1.1.7. Digital Manufacturing
6.2.1.1.8. Others
6.2.1.2. Cloud-based
6.2.1.2.1. CAD/CAM/CAE (CAx)
6.2.1.2.2. Numerical Control (NC)
6.2.1.2.3. Simulation and Analysis (S&A)
6.2.1.2.4. Electronic Design and Automation (EDA)
6.2.1.2.5. Architecture, Engineering and Construction (AEC)
6.2.1.2.6. Collaborative Product Definition Management (CPDM)
6.2.1.2.7. Digital Manufacturing
6.2.1.2.8. Others
6.2.2. Services
6.2.2.1. Consulting
6.2.2.2. Integration
6.2.2.3. Operation and Maintenance
7. Global Product Lifecycle Management (PLM) Market Analysis, by End-use
7.1. Key Segment Analysis
7.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by End-use, 2018 - 2030
7.2.1. Automotive and Transportation
7.2.2. Aerospace and Defense
7.2.3. Industrial Machinery and Heavy Equipment
7.2.4. Electronics and Semiconductor
7.2.5. Energy and Utilities
7.2.6. Consumer Products and Retail
7.2.7. Medical Devices and Pharmaceutical
7.2.8. IT and Telecom
7.2.9. Others
8. Global Product Lifecycle Management (PLM) Market Analysis and Forecast, By Region
8.1. Key Findings
8.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Region, 2018 - 2030
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East & Africa
8.2.5. South America
9. North America Product Lifecycle Management (PLM) Market Analysis
9.1. Regional Outlook
9.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Analysis and Forecast (2018 - 2030)
9.2.1. By Component
9.2.2. By End-use
9.3. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Country, 2018 - 2030
9.3.1. U.S.
9.3.2. Canada
9.3.3. Mexico
10. Europe Product Lifecycle Management (PLM) Market Analysis and Forecast
10.1. Regional Outlook
10.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Analysis and Forecast (2018 - 2030)
10.2.1. By Component
10.2.2. By End-use
10.3. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Country & Sub-region, 2018 - 2030
10.3.1. Germany
10.3.2. U.K.
10.3.3. France
10.3.4. Rest of Europe
11. APAC Product Lifecycle Management (PLM) Market Analysis and Forecast
11.1. Regional Outlook
11.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Analysis and Forecast (2018 - 2030)
11.2.1. By Component
11.2.2. By End-use
11.3. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Country & Sub-region, 2018 - 2030
11.3.1. Japan
11.3.2. China
11.3.3. India
11.3.4. Australia
11.3.5. Rest of Asia Pacific
12. Middle East & Africa (MEA) Product Lifecycle Management (PLM) Market Analysis and Forecast
12.1. Regional Outlook
12.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Analysis and Forecast (2018 - 2030)
12.2.1. By Component
12.2.2. By End-use
12.3. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Country & Sub-region, 2018 - 2030
12.3.1. GCC
12.3.2. South Africa
12.3.3. Rest of Middle East & Africa (MEA)
13. South America Product Lifecycle Management (PLM) Market Analysis and Forecast
13.1. Regional Outlook
13.2. Product Lifecycle Management (PLM) Market Size (US$ Bn) Analysis and Forecast (2018 - 2030)
13.2.1. By Component
13.2.2. By End-use
13.3. Product Lifecycle Management (PLM) Market Size (US$ Bn) Forecast, by Country & Sub-region, 2018 - 2030
13.3.1. Brazil
13.3.2. Rest of South America
14. Competition Landscape
14.1. Market Competition Matrix, by Leading Players
14.2. Market Revenue Share Analysis (%), by Leading Players (2019)
15. Company Profiles
15.1. Accenture PLC
15.1.1. Business Overview
15.1.2. Product Portfolio
15.1.3. Geographical Footprint
15.1.4. Revenue and Strategy
15.2. Atos SE
15.2.1. Business Overview
15.2.2. Product Portfolio
15.2.3. Geographical Footprint
15.2.4. Revenue and Strategy
15.3. Autodesk, Inc.
15.3.1. Business Overview
15.3.2. Product Portfolio
15.3.3. Geographical Footprint
15.3.4. Revenue and Strategy
15.4. Dassault Systemes
15.4.1. Business Overview
15.4.2. Product Portfolio
15.4.3. Geographical Footprint
15.4.4. Revenue and Strategy
15.5. Hewlett-Packard Company.
15.5.1. Business Overview
15.5.2. Product Portfolio
15.5.3. Geographical Footprint
15.5.4. Revenue and Strategy
15.6. iBASEt
15.6.1. Business Overview
15.6.2. Product Portfolio
15.6.3. Geographical Footprint
15.6.4. Revenue and Strategy
15.7. IBM Corporation
15.7.1. Business Overview
15.7.2. Product Portfolio
15.7.3. Geographical Footprint
15.7.4. Revenue and Strategy
15.8. PTC, Inc.
15.8.1. Business Overview
15.8.2. Product Portfolio
15.8.3. Geographical Footprint
15.8.4. Revenue and Strategy
15.9. SAP SE
15.9.1. Business Overview
15.9.2. Product Portfolio
15.9.3. Geographical Footprint
15.9.4. Revenue and Strategy
15.10. Siemens AG
15.10.1. Business Overview
15.10.2. Product Portfolio
15.10.3. Geographical Footprint
15.10.4. Revenue and Strategy
16. Key Takeaways
List of Tables
Table 1: North America ICT Spending (US$ Mn)
Table 2: Europe ICT Spending (US$ Mn)
Table 3: Asia Pacific ICT Spending (US$ Mn)
Table 4: MEA ICT Spending (US$ Mn)
Table 5: South America ICT Spending (US$ Mn)
Table 6: Emerging and Prominent Vendors
Table 7: Key Alliances in the Global PLM Market
Table 8: Global Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 9: Global Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 10: Global Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 11: Global Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 12: Global Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Region, 2018-2030
Table 13: North America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 14: North America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 15: North America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 16: North America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 17: North America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Country, 2018-2030
Table 18: Europe Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 19: Europe Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 20: Europe Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 21: Europe Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 22: Europe Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Country, 2018-2030
Table 23: Asia Pacific Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 24: Asia Pacific Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 25: Asia Pacific Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 26: Asia Pacific Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 27: Asia Pacific Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Country, 2018-2030
Table 28: Middle East & Africa (MEA) Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 29: Middle East & Africa (MEA) Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 30: Middle East & Africa (MEA) Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 31: Middle East & Africa (MEA) Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 32: Middle East & Africa (MEA) Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Country, 2018-2030
Table 33: South America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, 2018-2030
Table 34: South America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 35: South America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Component, by Software 2018-2030
Table 36: South America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by End-use 2018-2030
Table 37: South America Product Lifecycle Management Market Revenue (US$ Bn) and Forecast, by Country, 2018-2030
List of Figures
Figure 1: Global Product Lifecycle Management Market Size (US$ Mn) and Forecast, 2015–2030
Figure 2: Global CAGR Breakdown
Figure 3: Country Abstract
Figure 4: Regional Outline
Figure 5: GDP (US$ Bn), Top Countries (2014 – 2019)
Figure 6: Top Economies GDP Landscape, 2019
Figure 7: Global ICT Spending (US$ Bn) 2018 - 2030
Figure 8: Global ICT Spending (%), by Region, 2019
Figure 9: Global ICT Spending (US$ Bn), Regional Contribution, 2019
Figure 10: Global ICT Spending (US$ Bn), Spending Type Contribution, 2019
Figure 11: Global ICT Spending (%), by Type, 2019
Figure 12: Product Roadmap
Figure 13: Porter’s Five Forces
Figure 14: Ecosystem
Figure 15: Market Dynamics
Figure 16: Impact Analysis of Market dynamics
Figure 17: Global Product Lifecycle Management Market Forecast trends, 2020 - 2030 (US$ Mn)
Figure 18: Global Product Lifecycle Management Market, Absolute Incremental Opportunity Analysis, 2015 - 2030
Figure 19: Global Product Lifecycle Management Market Opportunity Assessment, by Component
Figure 20: Global Product Lifecycle Management Market Opportunity Assessment, by End-use
Figure 21: Opportunity Assessment, By Region
Figure 22: Global Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 23: Global Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 24: Global Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 25: Global Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 26: Global Product Lifecycle Management Market Share Analysis, by Region, 2020
Figure 27: Global Product Lifecycle Management Market Share Analysis, by Region, 2030
Figure 28: North America Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 29: North America Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 30: North America Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 31: North America Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 32: North America Product Lifecycle Management Market Share Analysis, by Country, 2020
Figure 33: North America Product Lifecycle Management Market Share Analysis, by Country, 2030
Figure 33: U.S. Leading Segments
Figure 34: U.S. Market Share - 2019
Figure 35: Canada Leading Segments
Figure 36: Canada Market Share - 2019
Figure 38: Mexico Leading Segments
Figure 39: Mexico Market Share - 2019
Figure 40: Europe Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 41: Europe Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 42: Europe Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 43: Europe Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 44: Europe Product Lifecycle Management Market Share Analysis, by Country, 2020
Figure 45: Europe Product Lifecycle Management Market Share Analysis, by Country, 2030
Figure 46: Germany LEADING SEGMENTS
Figure 47: Germany Market Share - 2019
Figure 48: UK Leading Segments
Figure 49: UK Market Share - 2019
Figure 50: France Leading Segments
Figure 51: France Market Share - 2019
Figure 52: Asia Pacific Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 53: Asia Pacific Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 54: Asia Pacific Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 55: Asia Pacific Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 56: Asia Pacific Product Lifecycle Management Market Share Analysis, by Country, 2020
Figure 57: Asia Pacific Product Lifecycle Management Market Share Analysis, by Country, 2030
Figure 58: Japan Leading Segments
Figure 59: Japan Market Share - 2019
Figure 60: China Leading Segments
Figure 61: China Market Share - 2019
Figure 62: India Leading Segments
Figure 63: India Market Share - 2019
Figure 64: Australia Leading Segments
Figure 65: Australia Market Share - 2019
Figure 66: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 67: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 68: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 69: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 70: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by Country, 2020
Figure 71: Middle East & Africa (MEA) Product Lifecycle Management Market Share Analysis, by Country, 2030
Figure 72: GCC Leading Segments
Figure 73: GCC Market Share - 2019
Figure 74: South Africa Leading Segments
Figure 75: South Africa Market Share - 2019
Figure 76: South America Product Lifecycle Management Market Share Analysis, by Component, 2020
Figure 77: South America Product Lifecycle Management Market Share Analysis, by Component, 2030
Figure 78: South America Product Lifecycle Management Market Share Analysis, by End-use, 2020
Figure 79: South America Product Lifecycle Management Market Share Analysis, by End-use, 2030
Figure 80: South America Product Lifecycle Management Market Share Analysis, by Country, 2020
Figure 81: South America Product Lifecycle Management Market Share Analysis, by Country, 2030
Figure 82: Brazil Leading Segments
Figure 83: Brazil Market Share – 2019
Figure 84: Competition Matrix
Figure 85: Market Share Analysis
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Product Lifecycle Management [PLM] Market
