This global market research presents a detailed analysis of the key factors that influence the prospects for growth in the global cloud product lifecycle management (PLM) market. It also segments the market by product (cPDM, CAD, and DM) and by geography (the Americas, APAC, and EMEA). The leading vendors mentioned in this industry research report are Autodesk, Dassault Systèmes, PTC, and Siemens PLM.
Technavio’s market research analysts estimate the global cloud product lifecycle management (PLM) market to grow at a CAGR of almost 9% between 2016 and 2020. The increasing need for mobility due to the upsurge in penetration of smartphones across the globe is the primary driver for this market. Currently, the Americas dominate the global cloud PLM market, accounting for over 64% of the overall market share. The increase in the demand for cloud PLM software from the automobile and aerospace and defense industries is the key contributor to the growth of the market in this region.
The new market research report from Technavio presents a breakdown and analysis of the cloud PLM segments by product.
“The trend of integrating cloud PLM software with the Internet of the things (IoT) helps create smart, connected devices in various industries such as automotive and aerospace and defense. With IoT gaining acceptance and popularity across the globe, this integration is expected to have a positive impact on the growth of the global cloud PLM market. The increase in the use of cloud PLM through mobile applications is also expected to propel the market during the forecast period,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
The collaborative product data management (cPDM) segment dominates the global cloud PLM market with a market share of over 48% and is expected to witness steady growth over the next four years. Adopted by industries such as automotive, electronics, industrial machinery, aerospace and defense, process packaged goods, petrochemical, and shipbuilding, cPDM software solutions enable enterprises to provide innovative and technologically advanced products. For instance, Siemens’s cloud cPDM software, Teamcenter, delivers a complete, easy-to-use solution that helps small and medium-sized enterprises achieve their goals.
The key vendors in the global cloud PLM market include Autodesk, Dassault Systèmes, PTC, and Siemens PLM. The global cloud PLM market is witnessing intense competition among the existing providers and the new entrants. Factors such as high competition and the declining profit margins constitute significant risks to vendors’ operations. Due to the high level of market competition, the industry has been witnessing market consolidation, wherein smaller entities are being acquired by, or being merged with, major players.
A more detailed analysis is available on the Technavio report, Global Cloud PLM Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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