- The key vendors in the cPDM market in South Korea 2015-2019 are Dassault Systèmes SA, Parametric Technology Corp. (PTC), SAP SE and Siemens PLM Software
London, 10 April 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the cPDM market in South Korea 2015-2019. One major trend being witnessed in this market is the use of cPDM solutions for the development of smart connected devices. The emergence of IoT in South Korea has led to the development of smart connected devices. IoT is carried out by connecting devices with each other and also with end-users’ communication devices. The cPDM market in South Korea is expected to grow at a CAGR of 13.3% during the period 2014-2019.
The increase in the demand for cPDM software from industries such as electrical and electronics and automotive has contributed to the growth of the market. Several international vendors are providing PLM solutions to meet this increased demand.
“Industries in South Korea are increasingly demanding integrated software that takes into account the initial idea phase through to design, planning, execution, and disposal of the final output,” says Faisal Ghaus, Vice President of Technavio Research.
“The growing product complexity and the increase in product portfolios have led to the demand for product management solutions that are more effective and efficient than ERP.”
To define the market conditions 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.
If you are interested in more information on this topic and our upcoming research on the cPDM market in South Korea 2015-2019; please send an e-mail to media@TechNavio.com.
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