According to the latest market research study by Technavio, the global mainstream PLM market is projected to grow at a CAGR of close to 10% during the forecast period 2017 to 2021.
This report by Technavio provides a comprehensive study of the global mainstream PLM market regarding revenue and emerging market trends. The report also includes an up-to-date market analysis and forecasts for various sectors and all geographical regions.
Technavio research analysts sort the market based on the product type
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The top three revenue contributing product segments are deliberated below:
Global cPDM market: The increasing implementation of cPDM software solutions by various leading vendors in the market will propel the growth of the mainstream PLM market. Top vendors like HP, TCS, IBM, Accenture, and Capgemini are playing a major role in solving the problems associated with the implementation of the mainstream PLM software in the global market. The companies are becoming a part of the consumer organization by offering real-time monitoring during the product development phases. Such initiatives by the companies will increase the adoption of these products in the market.
“The players are offering customization services and migration solutions to attract more consumers and increase their profitability. The increasing use of cPDM in data management and big data will result in the growth of this market segment during the calculated period. EMEA will be the largest revenue generator in the global market. The improvements made in digital R&D, testing, pricing, supply and demand recording, and inventory sectors will increase the application of cPDM software in the market,” says Ishmeet Kaur, a lead analyst at Technavio for research on product lifecycle management.
Global MCAD market: The growing demand for cloud-based MCAD solutions across several industries will fuel the growth of the MCAD market over the next four years. The use of a high number of machines and machine parts during the manufacturing process in the industrial machinery segment makes it the largest end-user of this software solution. MCAD have high application in the automotive industry as this software is used for vehicle body streamlining, designing, and accessing the exploded view required for assembly instructions.
Global S&A market: The extensive use of S&A solutions help improve the discrete manufacturing industries’ operational efficiency and reduce time to market is substantial. These solutions help the manufacturers to reduce their overall operating expenses and product development costs, as it eliminates the need for multiple physical prototypes. The economic development of emerging countries and high requirement for improving the processes in the manufacturing industries will augment the growth of this market segment. CFD is the most commonly used S&A software solution used in the global market.
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The key retailers operational in the global mainstream PLM market are:
- Dassault Systèmes
- PTC
- Siemens PLM Software
The other prominent vendors in the market include 3D Systems, Altair Engineering, Autodesk, Cadonix, FreeCAD, IronCAD, Kubotek, and Nemetschek.
A more detailed analysis is obtainable in the Technavio report titled, ‘Global Mainstream PLM Market 2017-2021’. Technavio also customizes reports by other regions and specific sectors upon request.
Other related reports:
- Global PLM Market in Consumer Goods Industry 2016-2020
- Global PLM in the Automotive Sector 2016-2020
- Global PLM Market in the Aerospace and Defense Sector 2016-2020
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