TechNavio today launched its report Global Product Lifecycle Management (PLM) Market 2011“2015 based on an in-depth study covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers™ understanding of the present and the future landscape of the Global Product Lifecycle Management market.
Commenting on the report, an analyst from TechNavio™s Engineering Services team said, Rapidly increasing levels of industrialization, economic growth, rising GDP of countries worldwide and a subsequent rise in manufacturing powers of countries such as India, China, and Japan are expected to drive the prospects for the Global PLM market. Demand for PLM solutions in the manufacturing industries increased rapidly in the post-recession period, which required high-speed production, quick planning and designing of products, active communication, collaboration among various departments, and the availability of updated information on the product. This increased demand is driving the Global PLM market.
According to the report, PLM vendors are facing increased competition from other local PLM vendors due to lack of product differentiation. Also, local PLM vendors are providing much higher levels of customization for PLM solutions, available at much lower costs. For instance, local PLM software vendors would also provide open source computer-aided engineering (CAE) solutions, customized to the company, at a much lower cost than that of commercial ones.
Further, the report also discusses that the high cost required to implement PLM software is one of the main challenges faced by vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/global-product-lifecycle-management-market-…
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TechNavio Announces the Publication of its Report “ Global Product Lifecycle Management Market 2011“2015
