Product Lifecycle Management (PLM) Market is expected to grow at a significant rate during the forecast period 2019-2025. Product lifecycle management software is a tool which is used to manage the data related to the product throughout its lifecycle starting from its conceptualization, manufacturing to its disposal. Cloud-based PLM helps in managing the lifecycle of the product effectively and efficiently. The software can be used in numerous applications thereby creating opportunities for the growth of the market in the near future. As the demand for sharing of product data has increased significantly, the demand for such software is expected to promote more vividly. The manufacturers are adopting such software to enhance their engagement with various departments along with increasing their production efficiency. Cloud-based PLM aids in consolidating the information related to the product. It is an easy to operate tool which can manage the complex data related to a product where there is high internet accessibility
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The demand for increasing production efficiency across the globe has increased significantly in the past years. This has significantly increased the adoption of such advanced software across the globe. Furthermore, the demand for such software has increased significantly in the manufacturing industry, with an objective of increasing automaticity across the industry. This is expected to be one of the key reasons which are expected to promote the growth of the market over the coming years. Furthermore, as the concept of the Internet of Things (IoT) propagates across the globe, it is expected to further supplement the growth of the market in the near future.
Geographically, the market is divided into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to dominate the market in the near future owing to the presence of numerous market players in the region. Europe is expected to follow North America, this can be attributed to the presence of numerous key manufacturing companies in the region which are promoting the use of cloud-based PLM software to increase the operational efficiency across the globe. Asia-Pacific is expected to register significant growth over the coming years
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Cloud-Based Product Lifecycle Management (PLM) Market Segmentation
Product Data Management
Collaborative Design & Engineering
Healthcare & Life Science
Energy & Utilities
Automotive & Transportation
Semiconductor & Electronics
Aerospace & Defense
- United States
- Rest of Europe
- Rest oF APAC
Rest of The World
- Company Profiles
Arena Solutions, Inc.
Backbone PLM, Inc.
Centric Software, Inc.
CONTACT Software GmbH
Dassault Systèmes SE
Essig PLM, Inc.
Gerber Technology, LLC
IFS World Operations AB
Professional Systems Associates, Inc.
Propel PLM, Inc.
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