Inkwood Research estimates that the global product lifecycle management (PLM) market will project a CAGR of 6.53% during the forecast period, and will reach revenue of $45.70 billion by 2028. The base year considered for the market study is 2019. The forecasted period is between 2020 and 2028. The growing demand for digitalization to scale up production activities is one of the major factors driving the growth of the market.
GLOBAL PRODUCT LIFECYCLE MANAGEMENT SOFTWARE (PLM) MARKET FORECAST 2020-2028
Global Product Lifecycle Management Software (Plm) Market by Deployment (on-premise, Cloud, Professional Services) by End-user (Electronics, Industrial Equipment and High Tech, Aerospace and Defense, Automotive, Architecture, Engineering & Construction, Other End Industries) and by Geography.
Inkwood Research estimates that the global product lifecycle management (PLM) market will project a CAGR of 6.53% during the forecast period, and will reach revenue of $45.70 billion by 2028. The base year considered for the market study is 2019. The forecasted period is between 2020 and 2028.
The factors boosting the global product lifecycle management (PLM) software market growth are:
- Implementation of digitalization to improve the production
- Enabling cloud technology to consolidate the information
To know more about this report, request a free sample copy.
The growing demand for digitalization to scale up production activities is one of the major factors driving the growth of the market. With the advent of industry 4.0, the shift from mass production to mass product customization is resulting in on-demand production and optimizing inventory. Digital technologies are already disrupting almost all elements of the value chain, including product design, manufacturing, customer experience, and supply chain. As a result of such trends in the market, digitization in industries is a catalyst for the PLM adoption rate over the forecasted period. This is expected to influence solution penetration even further.
Moreover, with increasing digitization across industries, the enterprises are generating a comparatively higher amount of data, which is sensitive and vital. The major concern for the companies has become data security, back up, and restoration. This is where cloud technology emerged as an enabler, further increasing technology penetration.
The professional services category dominated the deployment segment with a market share of 55.17% in 2019, and continued the trend throughout the forecast period. Leading enterprises are aiming at increasing the significance of PLM to fund product development. Enterprises, such as building product quality & compliance, regulation of processes, safeguarding intellectual property & moving product material across different systems, etc., need well-executed PLM results. The professional services are witnessing a growth in demand for personalized offerings that enable organizations to accelerate innovation and lifecycle management from the manufacturing industries effectively.
On the other hand, the cloud category of the deployment segment is anticipated to grow at the highest CAGR of around 11.39% during the forecast period. The primary reason is the greater adoption among the small and medium enterprises (SMEs), due to less upfront cost for SaaS solutions, and opportunities for vendors to offer as single instances and multi-tenant solutions.
However, when it comes to PLM, the software is required to communicate at an enterprise-level, interacting with numerous devices connected over the network. The interoperability between different product versions with the advent of IoT in industrial space has become even more evident challenge amongst PLM. In PLM, file exchange is vital, and one of the first tasks undertaken with interoperability challenges the core features of PLM, and cannot work on full potential.
The report on the global product lifecycle management (PLM) software market includes the segmentation analysis of deployment and end-user.
Market by Deployment:
- On-premise
- Cloud
- Professional Services
Market by End-user:
- Electronics, Industrial Equipment and High-tech
- Aerospace and Defense
- Automotive
- Architecture, Engineering & Construction
- Other End Industries
Geographically, the global product lifecycle management (PLM) software market has been segmented into four major regions, which includes:
- North America: the United States and Canada
- Europe: the United Kingdom, France, Germany, Italy, Russia, Belgium, Poland, and Rest of Europe
- Asia Pacific: China, Japan, India, South Korea, Thailand, Indonesia, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
- Rest of World: Latin America, the Middle East & Africa
In 2019, the North American market for product lifecycle management (PLM) software held the largest market share of 33.73% in terms of revenue. This is accredited to the presence of several key players, such as Autodesk and Oracle Corporation, which drive modernization. Hence, there is a strong competition among the players. Furthermore, the region’s strong financial position allows it to advance heavily in innovative solutions that have provided a viable position in the market.
On the other hand, Asia Pacific is set to be the fastest-growing region with a CAGR of 8.71% by the end of the forecast period. The PLM software market in the Asia Pacific region is primarily fueled by the ongoing industrial and infrastructure expansion activities, especially in China and India, with their growth strategies, including ‘Make in India’ and ‘Made in China 2025.’ The initiatives are primarily focused on the adoption of Industry 4.0 solutions, and seeking extensive investments for advanced technology adoption.
Some of the prominent players involved in the global product lifecycle management (PLM) software market are:
- SAP SE
- Autodesk Inc
- Infor Inc
- Others
Key strategies adopted by some of the product lifecycle management software companies are:
In May 2020, SAP SE entered into a collaboration with Insta Freight’s service offerings with SAP Logistics Business Network for supporting the efficient and fast handling of road shipments in Europe.
Key findings of the global product lifecycle management (PLM) software market are:
- The region of North America dominated the global product lifecycle management (PLM) software market in 2019.
- The Asia Pacific product lifecycle management (PLM) software market is estimated to register the highest CAGR during the forecast period of 2020-2028.
- The increasing partnerships among key players are driving the overall market growth.
- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- MARKET DEFINITION
- KEY DRIVERS
- IMPLEMENTATION OF DIGITALIZATION TO IMPROVE THE PRODUCTION
- ENABLING CLOUD TECHNOLOGY TO CONSOLIDATE THE INFORMATION
- KEY RESTRAINTS
- LACK OF INTEROPERABILITY AMONG DISSIMILAR PRODUCT VERSIONS
- KEY ANALYTICS
- KEY INVESTMENT INSIGHTS
- PORTER’S FIVE FORCE ANALYSIS
- BUYER POWER
- SUPPLIER POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- MARKET BY DEPLOYMENT
- ON-PREMISE
- CLOUD
- PROFESSIONAL SERVICES
- MARKET BY END-USER
- ELECTRONICS, INDUSTRIAL EQUIPMENT AND HIGH TECH
- AEROSPACE AND DEFENSE
- AUTOMOTIVE
- ARCHITECTURE, ENGINEERING & CONSTRUCTION
- OTHER END INDUSTRIES
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- UNITED STATES
- CANADA
- EUROPE
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA PACIFIC
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA PACIFIC
- REST OF WORLD
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
- COMPANY PROFILES
- SIEMENS AG
- DASSAULT SYSTEMES DEUTSCHLAND GMBH
- AUTODESK INC
- PTC INC
- SAP SE
- ANSYS INC
- ORACLE CORPORATION
- ARAS CORPORATION
- ARENA SOLUTIONS
- INFOR INC
- ACCENTURE PLC
- ALTAIR ENGINEERING INC
- RAZORLEAF CORPORATION
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE
TABLE 2: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY DEPLOYMENT, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 3: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY DEPLOYMENT, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 4: GLOBAL ON-PREMISE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 5: GLOBAL ON-PREMISE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 6: GLOBAL CLOUD MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 7: GLOBAL CLOUD MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 8: GLOBAL PROFESSIONAL SERVICES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 9: GLOBAL PROFESSIONAL SERVICES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 10: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY END-USER, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 11: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY END-USER, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 12: GLOBAL ELECTRONICS, INDUSTRIAL EQUIPMENT AND HIGH TECH MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 13: GLOBAL ELECTRONICS, INDUSTRIAL EQUIPMENT AND HIGH TECH MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 14: GLOBAL AEROSPACE AND DEFENSE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 15: GLOBAL AEROSPACE AND DEFENSE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 16: GLOBAL AUTOMOTIVE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 17: GLOBAL AUTOMOTIVE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 18: GLOBAL ARCHITECTURE, ENGINEERING & CONSTRUCTION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 19: GLOBAL ARCHITECTURE, ENGINEERING & CONSTRUCTION MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 20: GLOBAL OTHER END-USERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 21: GLOBAL OTHER END-USERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 22: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 23: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 24: NORTH AMERICA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 25: NORTH AMERICA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 26: EUROPE PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 27: EUROPE PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 28: ASIA PACIFIC PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 29: ASIA PACIFIC PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ BILLION)
TABLE 30: REST OF WORLD PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ BILLION)
TABLE 31: REST OF WORLD PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ BILLION)
LIST OF FIGURES
FIGURE 1: KEY INVESTMENT INSIGHTS
FIGURE 2: PORTER’S FIVE FORCE ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, GROWTH POTENTIAL, BY DEPLOYMENT, IN 2019
FIGURE 6: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY ON-PREMISE, 2020-2028 (IN $ BILLION)
FIGURE 7: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY CLOUD, 2020-2028 (IN $ BILLION)
FIGURE 8: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY PROFESSIONAL SERVICES, 2020-2028 (IN $ BILLION)
FIGURE 9: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, GROWTH POTENTIAL, BY END-USER, IN 2019
FIGURE 10: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY ELECTRONICS, INDUSTRIAL EQUIPMENT AND HIGH TECH, 2020-2028 (IN $ BILLION)
FIGURE 11: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY AEROSPACE AND DEFENSE, 2020-2028 (IN $ BILLION)
FIGURE 12: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY AUTOMOTIVE, 2020-2028 (IN $ BILLION)
FIGURE 13: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY ARCHITECTURE, ENGINEERING & CONSTRUCTION, 2020-2028 (IN $ BILLION)
FIGURE 14: GLOBAL PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, BY OTHER END INDUSTRIES, 2020-2028 (IN $ BILLION)
FIGURE 15: NORTH AMERICA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 16: UNITED STATES PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 17: CANADA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 18: EUROPE PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 19: UNITED KINGDOM PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION /BILLION)
FIGURE 20: GERMANY PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 21: FRANCE PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 22: ITALY PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 23: RUSSIA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 24: BELGIUM PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 25: POLAND PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 26: REST OF EUROPE PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 27: ASIA PACIFIC PRODUCT LIFECYCLE MANAGEMENT (PLM) 1SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 28: CHINA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 29: JAPAN PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 30: INDIA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 31: SOUTH KOREA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 32: INDONESIA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 33: THAILAND PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 34: VIETNAM PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 35: AUSTRALIA & NEW ZEALAND PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 36: REST OF ASIA PACIFIC PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 37: REST OF WORLD PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 38: LATIN AMERICA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
FIGURE 39: MIDDLE EAST & AFRICA PRODUCT LIFECYCLE MANAGEMENT (PLM) SOFTWARE MARKET, 2020-2028 (IN $ BILLION)
- MARKET BY DEPLOYMENT
- ON-PREMISE
- CLOUD
- PROFESSIONAL SERVICES
- MARKET BY END-USER
- ELECTRONICS, INDUSTRIAL EQUIPMENT AND HIGH TECH
- AEROSPACE AND DEFENSE
- AUTOMOTIVE
- ARCHITECTURE, ENGINEERING & CONSTRUCTION
- OTHER END INDUSTRIES
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- UNITED STATES
- CANADA
- EUROPE
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA PACIFIC
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA PACIFIC
- REST OF WORLD
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
To request a free sample copy of this report, please complete the form below :
We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.