Product Lifecycle Management PLM Market Analysis | 2021-2026

Product Lifecycle Management PLM Market Analysis | 2021-2026

Product Lifecycle Management PLM Market Analysis | 2021-2026
Report code - SR1850 Delivery - 2 Weeks
Product Lifecycle Management PLM Market Size, Share, Trend, Forecast, & Indu See more...

Market Insights

"The global product lifecycle management market is projected to grow from USD 26.1 billion in 2020 to USD 40.0 billion by 2026 at a CAGR of over 7.5% during the forecast period."

Product lifecycle management (PLM) is referred to as an information system which can integrate data, business systems, processes, and eventually people in an extended enterprise. PLM software enables a company to manage information throughout the complete lifecycle of a product cost-effectively and efficiently. It consists of processes from design, ideation, and manufacture & disposal of the product.

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Increasing demand for software solutions for bills of materials, change management, compliance management, cost management, data management, and governance management are likely to spur the demand for the PLM software over the review period. The continued integration of the latest technologies, such as virtual reality, Industrial Internet of Things (IIoT), augmented reality, and additive manufacturing, with PLM solutions, is further expected to bolster the market growth.

The COVID-19 pandemic has positively influenced the Product Lifecycle Management [PLM] sector. The pandemic has compelled businesses to opt for cloud technology to facilitate remote working & help to ensure business continuity, thereby bolstering the adoption of cloud-based services. PLM software providers are expecting their customers to opt for cloud migration, further augments market growth.

Product Lifecycle Management Market Report Overview

Market Size in 2026

USD 40.0 billion

Market Size in 2020

USD 26.1 billion

CAGR (2021-2026)

7.5%

Base Year of Study

2020

Trend Period

2016-2019

Forecast Period

2021-2026

Key Players

The key players operating in the product lifecycle management market are:

  • SAP (Germany)
  • Dassault System (France)
  • PTC (US)
  • Siemens (Germany)
  • Autodesk (US)
  • IBM (US)
  • Oracle (US)
  • HP (US)
  • Atos (France)
  • Accenture (Ireland).

Segment’s Analysis

Software Trends

"The design & engineering management segment held the highest market share."

Based on software, the product lifecycle management market has been classified into portfolio management, design & engineering management, quality & compliance management, simulation, testing, & change management, manufacturing operations management, and others. Under these, the design & engineering management segment held a significant market share of around 30% in 2020. PLM software is increasingly being used by production units to manage the development, designing, and engineering processes in light of the continued industrial digitization and rollout of connected value chains, thereby boosts the segment growth in the coming years.

Regional Insights

"The North American market held the highest market share."

By region, the North American market held the highest market share of more than 30% in 2020 and is projected to grow at a healthy CAGR in the coming years. Presence of key market players in the region is a key driving factor. Moreover, large enterprises in the region are especially upgrading their PLM solutions in line with the improving technology trends to help customer-centric product development, further bolsters regional market growth during the review period.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the Product Lifecycle Management Market

How lucrative is the future?

Market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional and country level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirement?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

Product lifecycle management (PLM) is referred to as an information system which can integrate data, business systems, processes, and eventually people in an extended enterprise. PLM software enables a company to manage information throughout complete lifecycle of product cost-effectively and efficiently. It consists of processes from design, ideation, and manufacture & disposal of the product.

The key players operating in the product lifecycle management market are SAP (Germany), Dassault System (France), PTC (US), Siemens (Germany), Autodesk (US), IBM (US), Oracle (US), HP (US), Atos (France), and Accenture (Ireland).

North America market held the highest market share of more than 30% in 2020 and is projected to grow at a healthy CAGR in the coming years.

Increasing demand for software solutions for bills of materials, change management, compliance management, cost management, data management, and governance management are likely to spur the demand for the PLM software over the review period.

The product lifecycle management market is projected to grow from USD 26.1 billion in 2020 to USD 40.0 billion by 2026 at a CAGR of over 7.5% during the forecast period.

Distributors, suppliers, manufacturers, logistics organizations, and government bodies.