LONDON, Jan. 11, 2023 (GLOBE NEWSWIRE) -- A recent study report released by Data Bridge Market research titled “Service Lifecycle Management Market” guarantees you will remain better informed than your competition. Service Lifecycle Management market report assists in directing the business in the correct direction by giving insights about products, markets, customers, competitors, and marketing strategy at the exact time. The Service Lifecycle Management report introduces a top to bottom evaluation of the Service Lifecycle Management industry including empowering technologies, key trends, market drivers, challenges, standardization, regulatory landscape, opportunities, future guide, value chain, ecosystem player profiles, and strategies. This market research report is a resource that makes available current as well as upcoming technical and financial details of the industry to 2030. A lot of hard work has been involved while generating this market research report and no stone is left unturned.
Data Bridge Market Research analyses that the service lifecycle management market is expected to reach USD 3.05 billion by 2030, which is USD 1.60 billion in 2022, at a CAGR of 8.40% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Service Lifecycle Management Market Analysis:
Service lifecycle management application is well-defined as a holistic approach that comprises complete service lifecycle of product during its life as a constant process. It also aids in allowing a single view of service for making a better decision and every step in service lifecycle process from closing of orders to aftermarket services invoicing to initial customer interaction
This service lifecycle management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the service lifecycle management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Opportunities
- Increasing collaboration and partnership activities
Major market players in the market are focused on collaborations and partnerships to gain a competitive edge in the global market. For instance, Siemens PLM partnered with TCS to offer best-in-class PLM-SLM suite with TCS data analytics support in May 2016. Moreover, PTC partnered with ServiceMax to launch the first Connected Field Service in May 2015. Thus, the increasing collaboration and partnership activities will be anticipated to crate ample market growth opportunities.
- Rise in research and development activities to innovate new products
Major companies in the market are highly focused on research and development activities to gain a competitive edge in the global market. For instance, Oracle has launched the Oracle Field Service Cloud, named TOA Technologies in April 2016, which increases customer satisfaction and response time. Moreover, Tech Mahindra has launched an aftermarket platform for maintenance in the automotive industry in January 2015.
Top Leading Key Players of the Service Lifecycle Management Market:
- Atos SE (France)
- Siemens (Netherlands)
- IBM (U.S.)
- Orcale (U.S.)
- Wipro (India)
- Tata Consultancy Services Limited (India)
- Tech Mahindra Limited (India)
- Dassault Systèmes (France)
- Broadcom (U.S.)
- PTC (U.S.)
- CollabNet Corporation (U.S.)
- Intland Software. (Germany)
- Digité, Inc (U.S.)
Recent Development
- In 2020, IBM Corporation entered into a contract with Fenergo to collaborate on solutions which can aid clients address numerous financial risks. This solution is mainly designed to aid financial organizations accelerate mitigation and discovery of financial crimes risks from human trafficking, terrorist financing, money laundering, fraud and sanctions throughout the customer lifecycle.
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Core Objective of Service Lifecycle Management Market:
Every firm in the Service Lifecycle Management Industry has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
- Service Lifecycle Management Market Size and growth rate factors.
- Important changes in the future Service Lifecycle Management Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of Service Lifecycle Management Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in the Market.
- Global Service Lifecycle Management top manufacturers profile and sales statistics.
Service Lifecycle Management Market Drivers
- Increasing usage of service lifecycle management applications in the metal manufacturing industry
The adoption of service lifecycle management application increases mainly with metal consuming original equipment producers such as automotive, aerospace and defence and transportation and others. However, metal companies that manufacture aluminium and steel mainly focus on product-centric approaches compared to service-centric ones. Service lifecycle management applications would aid in providing after-sales services such as welding and maintenance and repair of metals and tracking the performance of the metals. Thus, the Increasing usage of service lifecycle management applications in the metal manufacturing industry is expected to drive the market growth rate
- Increasing adoption of artificial intelligence
Artificial intelligence (AI) technology has extensive scope in real-time applications because it extracts what is necessary from the huge amount of information. According to analysis, the application of artificial intelligence (AI) is the increasing practice in service lifecycle management application and aftermarket support services which is providing a reliable method to extract information that captured by connected devices, this is decreasing the variability which humans bring to decision-making processes and problem-solving. It ensures that companies solve technical issues related to the product and the customer query resolution and product availability.
Restraint/Challenges:
- The complexity of the application due to the introduction of new technology platforms
Introduction of cloud and its private, public and hybrid variants have offered various options for the deployment of service lifecycle management applications to many end users. However, the management of all these variants and applications can surge the complexity of service lifecycle management applications. Although cloud-based platforms increase effectiveness by providing real-time infrastructure, it also has the potential to increase complexity in areas such as management data, resources and applications spread across numerous cloud variants. Furthermore, service lifecycle management application’s integrated solutions across different industries in different regions result in rise in software complexity in terms of coding and understanding. Hence, all these factors are expected to restrain the market growth during the forecast period.
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Service Lifecycle Management Market Segmentations:
By Software Type
- Cloud-Based Software
- Web-Based Software
By Service-Based Models
- Dealer-Based Model
- Performance-Based Model
- Depot-Based Model
- Field-Based Model
By Solutions
- Customer Contact and Support
- Warranty and Service Management
- Service Parts Information Management
By End-Use Industry
- Automotive and Transportation
- Aerospace and Defence
- Medical Equipment
- High Technology
- Industrial Machinery and Equipment
- Telecommunication
Service Lifecycle Management Market Country Level Analysis
The countries covered in the service lifecycle management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Service Lifecycle Management Market Report Answers the Following Questions:
- How much revenue will the Service Lifecycle Management market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Service Lifecycle Management market?
- Which regions are currently contributing the maximum share of the overall Service Lifecycle Management market?
- What indicators are likely to stimulate the Service Lifecycle Management market?
- What are the main strategies of the major players in the Service Lifecycle Management market to expand their geographic presence?
- What are the main advances in the Service Lifecycle Management market?
- How do regulatory standards affect the Service Lifecycle Management market?
Table of Content
- Table of Content
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Overview
- Global Service Lifecycle Management Market, By Software Type
- Global Service Lifecycle Management Market, By Service-Based Models
- Global Service Lifecycle Management Market, By Solutions
- Global Service Lifecycle Management Market, By End-Use Industry
- Global Service Lifecycle Management Market, By Region
- Global Service Lifecycle Management Market, Company Landscape
- SWOT Analysis
- Company Profile
- Questionnaire
- Related Reports
Get the Full Table of Content @ https://www.databridgemarketresearch.com/toc/?dbmr=global-service-lifecycle-management-market
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