DUBLIN, June 30, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/cc82zl/product_lifecycle) has announced the addition of the "Product Lifecycle Management (PLM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022" report to their offering.
The global PLM market has generated revenue of $40.26 Bn in 2014 and is projected to grow at a CAGR of 8.1% during the forecast period (2015 - 2022) to reach a market size of US$ 75.87 Bn by 2022.
The growing need for product innovation, productivity enhancement as well as reduction in operational cost are the key factors driving the growth of product lifecycle management (PLM) market. A PLM solution can increase the productivity of a system substantially by providing various tools and methodologies to reduce redundancies. The PLM vendors have also started offering various customized PLM solutions according to the need of the enterprises, further aiding the growth in demand. The PLM market also faces some challenges such as low interoperability between different product versions, competitive products, data formats, data models and databases.
The growth of CAx segment is driven by the demand for lowering time-to-market products among enterprises. During the coming years, the market for both on-premise and cloud-based CAx solutions is expected to be majorly driven by the demand from SMEs as these enterprises have started investing in the standalone software to have better visualization of the product as well as reduction in operational costs.
Aerospace and defense was the largest end-use segment of the PLM market in 2014. This segment has a significantly long product development cycle and in order to manage this, the companies in this sector started adopting PLM solutions in wide manner. The increasing global competition, reduction in budgets related to defense and aerospace, and a rising commercial aircraft backlog would significantly drive the demand for PLM in the companies in aerospace and defense sector. The non-traditional end-use sectors such as consumer products and retail, and medical devices and pharmaceutical have also started using PLM solution and services in order to increase their production efficiency. Thus, the growing demand from non-traditional end-use sectors is also one of the major factors that drive the growth of PLM market globally.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global PLM Market Overview
Chapter 4 North America PLM Market Analysis
Chapter 5 Europe PLM Market Analysis
Chapter 6 Asia Pacific PLM Market Analysis
Chapter 7 Latin America PLM Market Analysis
Chapter 8 MEA PLM Market Analysis
Chapter 9 Company Profiles
- Accenture PLC
- Aras Corporation
- Atos SE
- Autodesk, Inc.
- Dassault Systemes
- Hewlett-Packard Company
- IBM Corporation
- PTC, Inc.
- SAP SE
- Siemens AG
For more information visit http://www.researchandmarkets.com/research/cc82zl/product_lifecycle
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets