London, 18 March 2015: Technavio, the independent tech-focused global research firm, has published a report on the cPDM Market in China 2015-2019, which is expected to grow at a CAGR of 17.30 percent during 2014-2019.
As per the data, China is the major player in the cPDM market in the APAC region and accounts for 10.12 percent of the revenue generated by the market in 2014. The higher investments in PLM by end-user industries such as aerospace and defense and automotive contribute to the growth of the cPDM market in China. The government of China has introduced several plans to elevate the aerospace and defense industry in the country, which is forecast to aid the growth of the mainstream PLM Software market in China.
“Various PLM service providers are implementing PLM on the cloud platform for end-users. For instance, Wipro, a global information technology, consulting, and outsourcing firm, is providing cloud-based PLM services for Teamcenter, Siemens PLM Software,” says Faisal Ghaus, Vice President of TechNavio.
“These services help electronics and semiconductor manufacturing companies to deploy Teamcenter on the cloud through IaaS. It also helps end-users reduce the cost of implementation and total cost of ownership.”
Key Market Drivers
- Intense Competition among Service Providers
- Rising Volumes in M&A
- Robust Partnerships among Software and Service Providers
- Rise in Product Recalls in Automotive Industry
- Increased Cross-plant Manufacturing Activities
- Effective Collaboration among Various BU
- Need for High ROI
- Evolution of Manufacturing Industry in China
- Sharper Focus on Lean Product Development
- Need for Sophisticated Manufacturing in China
Key Market Trends
- Availability of Cloud-based Services
- Capability of cPDM to Support Multiple CAD Files
- Integration of PLM Software with Enterprise and MES Software
Key Market Vendors
- Dassault Systèmes SA
- PTC Inc.
- SAP SE
- Siemens PLM Software
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
