New York, NY, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Cloud based Product Lifecycle Management (PLM) Market By Component (Software and Services), By Application (Portfolio Management, Product Data Management, Collaborative Design and Engineering, Customer Management, Compliance Management, and Others), By Technology (Radio-Frequency Identification, Near Field Communication and Others), By Organization Size (Small and Medium Enterprise and Large Enterprise), By Industry Vertical (Aerospace and Defense, Healthcare and Life Sciences, Retail and Consumer goods, Energy and Utilities, Industrial Machinery and Heavy Equipment, Telecommunication and IT, Automotive and Transportation, Semiconductor and Electronics and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the recent research report, the demand of global Cloud based Product Lifecycle Management (PLM) Market size & share expected to reach to USD 91.81 Billion by 2026 from USD 35.61 Billion in 2020 in 2020, at a compound annual growth rate (CAGR) of 17.1% during the forecast period 2021 to 2026”
Global Cloud based Product Lifecycle Management (PLM) Market: Overview
Product life cycle management is an information system used to manage and optimize products during development, growth, and maturity and decrease stages. Leading the way through its life cycles, PLM is a series of plans and strategies utilized by management to develop the product. Some of the major advantages of product life cycle management include improving product quality and dependability, cutting the cost of the prototype, and identifying income creation possibilities.
PLM incorporates systematic information management across the whole product life cycle, for example, production and product design information, product development and supply process information, performance management, and other information sets in real-time. The processes of the product lifecycle evolve steadily with changes in time, price, functions, and performance factors. In order to fulfill changing market demands, a product innovation process needs to be flexible based on the variations of factors. Another element is expected to fuel the PLM market expansion, such as product improvements and development management.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Aras
- Accenture PLC
- Infor Inc.
- PTC Inc.
- Key Innovator
- Dassault Systèmes
- TCS
- SAP SE
- Tech Mahindra
- Razorleaf Corp.
- Windchill
- Arena Solutions Inc.
- Autodesk Inc.
- Oracle Corporation
- Siemens AG.
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Key questions answered in this report:
- What is the projected market size & growth rate of Cloud based Product Lifecycle Management (PLM) Market?
- What are the key driving factors for the growth of Cloud based Product Lifecycle Management (PLM) Market?
- What are the top companies operative in Cloud based Product Lifecycle Management (PLM) Market?
- What segments are covered in Cloud based Product Lifecycle Management (PLM) Market?
- How can I get free sample report/company profiles of Cloud based Product Lifecycle Management (PLM) Market?
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Market Dynamics
- Evolution of connected devices and smart factories
Digital transformation trends promote the development and use of next-generation intelligent products and factories in industries such as heavy-duty production and automation. In terms of connection, compliance with security, functionality, and others, these intelligent goods and plants are extremely complicated. Manufacturers require a system that integrates mechanical, electrical, and software skills to build these linked devices effectively. Software suppliers are focusing on creating PLM software, which has sophisticated features, such as 3D design, simulation, and verifying the complicated behaviour of intelligent goods and manufacturing systems, to produce these related Products. Therefore, the growth of the PLM market over the forecast period should be driven by the rising need for linked devices.
PLM solutions provide advantages such as cutting operating costs and time for the market, as well as promoting company innovation. These advantages should have a favorable influence on market growth. Smart factories and intelligent manufacturing in small businesses are predicted to develop, as is the introduction of tailor-made and affordable PLM systems. PTC Inc., for example, has taken a big step forward among industry rivals by integrating its ThingWorx capabilities with its Windchill PLM application suite and Creo CAD software.
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Global Cloud based Product Lifecycle Management (PLM) Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 35.61 Billion |
| Market Forecast for 2026 | USD 91.81 Billion |
| Expected CAGR Growth | CAGR 17.1% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Aras, Accenture PLC, Infor Inc., PTC Inc., Key Innovator, Dassault Systèmes, TCS, SAP SE, Tech Mahindra and Others |
| Segments Covered | Component, Application, Technology, Organization Size, Industry Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Global Cloud-based Product Lifecycle Management Market: Segmentation
The study provides a decisive view of the global Cloud based Product Lifecycle Management market by segmenting it based on application, technology, component, organization size, and industry vertical. The component segment is categorized into services and software. Portfolio management, collaborative design and engineering, product data management, compliance management, customer management, and others are the application segment of the global Cloud based Product Lifecycle Management market. To offers better target customer analysis, our analyst further bifurcates technology segments into near-field communication, radio-frequency identification, and others.
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Global Cloud-based Product Lifecycle Management (PLM) Market: Regional Analysis
Based on regions, the global Cloud based Product Lifecycle Management market can be divided into five main regions namely North America, Europe, Latin America, Asia Pacific, and The Middle East and Africa.
However, the expansion of the IT infrastructure in the Asia Pacific is projected to be spectacular. In the coming few years, this area is projected to see significant development as IT sectors and outsourcing improve. In addition, increasing cloud demands further boost the cloud-based PLM industry in this area. In addition, economic growth is also growing in the worldwide cloud-based PLM market in nations like China, India, and Japan.
Browse the full report“Cloud-based Product Lifecycle Management (PLM) Market By Component (Software and Services), By Application (Portfolio Management, Product Data Management, Collaborative Design and Engineering, Customer Management, Compliance Management, and Others), By Technology (Radio-Frequency Identification, Near Field Communication and Others), By Organization Size (Small and Medium Enterprise and Large Enterprise), By Industry Vertical (Aerospace and Defense, Healthcare and Life Sciences, Retail and Consumer goods, Energy and Utilities, Industrial Machinery and Heavy Equipment, Telecommunication and IT, Automotive and Transportation, Semiconductor and Electronics and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/cloud-based-product-lifecycle-management-market
The global Cloud-based Product Lifecycle Management (PLM) Market is segmented as follows:
By Component
- Software
- Services
By Application
- Portfolio Management
- Product Data Management
- Collaborative Design and Engineering
- Customer Management
- Compliance Management
- Others
By Technology
- Radio-Frequency Identification
- Near Field Communication
- Others
By Organization Size
- Small and Medium Enterprise (SME)
- Large Enterprise
By Industry Vertical
- Aerospace and Defense
- Healthcare and Life Sciences
- Retail and Consumer goods
- Energy and Utilities
- Industrial Machinery and Heavy Equipment
- Telecommunication and IT
- Automotive and Transportation
- Semiconductor and Electronics
- Others
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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