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Global Product Lifecycle Management (PLM) Market to Reach US$75.87 Bn by 2022 owing to Rising Applications in Defense and Aerospace : Transparency Market Research

Albany NY, Feb. 11, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research announces the release of a new research report, According to the findings of the report, the global product lifecycle management (PLM) market is forecast to grow from US$40.26 billion in 2014 to US$75.87 billion in 2022, registering an 8.1% CAGR over the period.

On the basis of components, the PLM market is bifurcated into services and software. The services sector held a 56% share of the overall market in 2014. This segment is further segmented into on-premise and cloud-based services, with the latter developing at a faster pace of 17.7% from 2015 to 2022.

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PLM solutions find application in several end uses including aerospace and defense, automotive and transportation, electronics and semiconductor, industrial machinery and heavy equipment, consumer products and retail, energy and utilities, IT and telecom, and medical devices and pharmaceuticals. Accounting for a 23% share of the overall PLM market in 2014, the aerospace and defense sector dominated the scene owing to rise in commercial aircraft outstandings and lowering of defense and space budgets around the world. Evolving consumer demands and rapid expansion in recent years has led to the growth of product lifecycle management in the automotive and transportation industry. Sectors such as medical devices and pharmaceuticals as well as consumer goods and retail are projected to register the highest CAGR of 10.4% from 2015 to 2022.

Geographically, the market for product lifecycle management is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Accounting for a 33% share of the global market in 2014, North America has been identified as the leading PLM regional segment. Rising adoption of PLM solutions to minimize overall cost of production and lower the time-to-market of products has boosted the North America market in recent years. Registering a 14.7% CAGR from 2015 to 2022, the Middle East and Africa market for product lifecycle management is estimated to become the most rapidly developing regional segment. Ongoing development in the industrial sector is expected to boost the adoption of PLM in this region.

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IBM Corporation, SAP SE, Atos SE, Dassault Systemes, PTC, Inc., Autodesk, Inc., Siemens AG, Hewlett-Packard Company, Accenture PLC, and Aras Corporation are some of the most prominent participants of the global PLM market. These players are profiled in the research report on the basis of attributes such as company overview, financial standing, recent developments, products and services, business strategies, strengths, weaknesses, opportunities, and threats.

Product Lifecycle Management (PLM) Market

By Component Type

Software

  • On-Premise
  • CAD/CAM/CAE (CAx)
  • Numerical Control (NC)
  • Simulation and Analysis (S&A)
  • Electronic Design and Automation (EDA)
  • Architecture, Engineering and Construction (AEC)
  • Collaborative Product Definition Management (CPDM)
  • Digital Manufacturing
  • Others

Cloud-based

  • CAD/CAM/CAE (CAx)
  • Numerical Control (NC)
  • Simulation and Analysis (S&A)
  • Electronic Design and Automation (EDA)
  • Architecture, Engineering and Construction (AEC)
  • Collaborative Product Definition Management (CPDM)
  • Digital Manufacturing
  • Others

Services

  • Consulting
  • Integration
  • Operation and Maintenance

By End-use

  • Automotive and Transportation
  • Aerospace and Defense
  • Industrial Machinery and Heavy Equipment
  • Electronics and Semiconductor
  • Energy and Utilities
  • Consumer Products and Retail
  • Medical Devices and Pharmaceutical
  • IT and Telecom
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Other Reports Published By Transparency Market Research:

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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Source:Transparency Market Research