London, 16 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Mainstream PLM Software Market in China 2014-2018, which is expected to grow at a CAGR of 14.92 percent during 2014-2018.
PLM software is the backbone of manufacturing companies and for a country like China, it plays a very vital role owing to its huge manufacturing base. This software helps manufacturing units to manage and streamline the entire lifecycle of a product. PLM software, though primarily used at the design stage, also plays a vital role from inception to the end of the lifecycle. PLM software is used in ideation, design and manufacture, and service and disposal.
“Currently, almost all manufacturing processes can be outsourced to China because the Manufacturing industry in China has the experience and the ability to deliver world-class products at a low cost,” says Faisal Ghaus, Vice President of TechNavio.
“These outsourcing opportunities encourage Chinese manufacturers to use PLM solutions to compete and to provide a quality product at minimum possible cost.”
Key Market Drivers
- Need to Reduce Product Development Cycle Time
- Increased Demand from Aerospace and Defense Industry
- Increased Outsourcing Services
Key Market Trends
- Increase in M&A
- Growth of Mobile Technology
- Emergence of PLM Solutions with Increased Capabilities
Key Market Vendors
- Dassault Systèmes S.A
- Parametric Technology Corp
- Siemens PLM Software Inc.
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%…
