In a new report, titled “Product Lifecycle Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022,” Transparency Market Research indicates that the global product lifecycle management (PLM) market is projected to rise from a value of US$40.2 bn in 2014 to US$75.8 bn in 2022, expanding at an 8.10% CAGR from 2015 to 2022. The growing demand from non-conventional end-use sectors, the significant reduction in the products’ time-to-market, and the ongoing growth in industrial activities around the world are responsible for the expansion of the PLM market.

By component, the product lifecycle management market is segmented into software and services. Accounting for a massive 56% share in 2014, the services sector enjoys the lead position. This segment is bifurcated into cloud-based and on-premise services, with the former registering a 17.70% CAGR from 2015 to 2022.

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On the basis of end use, the product lifecycle management market is categorized into aerospace and defense, electronics and semiconductor, consumer products and retail, IT and telecom, automotive and transportation, industrial machinery and heavy equipment, energy and utilities, medical devices and pharmaceutical, and others. The aerospace and defense segment has been leading the overall PLM solutions market, accounting for a 23% share in 2014. This segment is propelled by the lowering of the defense and space budgets across the globe and the rise in commercial aircraft outstandings. The automotive and transportation sector is fueled by the rapid expansion of the industry in recent years and the constantly evolving consumer demands. Expanding at the highest CAGR of 10.40% during the forecast period, the consumer goods and retail as well as the medical devices and pharmaceuticals segments are projected to be the most rapidly developing end-use segments of the product lifecycle management market.

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The global product lifecycle management market is segmented on the basis of geography into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. In 2014, North America held a 33% share in the overall market, emerging as the leading regional segment of the product lifestyle management market. This market is driven by the reduction in the time-to-market of products and the growing adoption of PLM solutions to cut down on the cost of production. The Middle East and Africa PLM market is projected to register an impressive CAGR of 14.70% during the forecast period, fueled by the ongoing development in the industrial sector in the region.

The leading players competing in the global product lifecycle management market include SAP SE, Atos SE, Accenture PLC, Siemens AG, Aras Corporation, Hewlett-Packard Company, Dassault Systemes, Autodesk, Inc., IBM Corporation, and PTC, Inc.

Product Lifecycle Management (PLM) Market

By Component Type

Software
On-Premise
CAD/CAM/CAE (CAx)
Numerical Control (NC)
Simulation and Analysis (S&A)
Electronic Design and Automation (EDA)
Architecture, Engineering and Construction (AEC)
Collaborative Product Definition Management (CPDM)
Digital Manufacturing
Others

Cloud-based
CAD/CAM/CAE (CAx)
Numerical Control (NC)
Simulation and Analysis (S&A)
Electronic Design and Automation (EDA)
Architecture, Engineering and Construction (AEC)
Collaborative Product Definition Management (CPDM)
Digital Manufacturing
Others

Services
Consulting
Integration
Operation and Maintenance

By End-use

Automotive and Transportation
Aerospace and Defense
Industrial Machinery and Heavy Equipment
Electronics and Semiconductor
Energy and Utilities
Consumer Products and Retail
Medical Devices and Pharmaceutical
IT and Telecom
Others

By Geography

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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