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Global Product Lifecycle Management (PLM) Industry

Global Product Lifecycle Management (PLM) Industry

  • January 2022
  • 433 pages
  • ID: 552792
  • Format: PDF
  • Global Industry Analysts


Table of Contents


Global Product Lifecycle Management (PLM) Market to Reach US$59.7 Billion by the Year 2026

Product Lifecycle Management (PLM) is an advanced people-centric technology that allows enterprises to configure, manage and integrate design data, workflows and processes from initial phases of product development, such as concept, design, simulation, and validation, through to production, launch, use and disposal. PLM helps companies in setting up efficient workflows, data management systems, process configurations and system validation. PLM is slated to be influenced by emerging technologies including big data, IoT, mobility, Industry 4.0 and rising adoption of manufacturing software and automation. These trends and recent developments in the field of PLM are poised to help organizations in innovating and streamlining product-related processes and accelerating time-to-market. Other major factors driving growth in the market include rising product complexity; expanding product portfolios/product line extensions; emergence of smart factories; migration to 3D from 2D CAD systems, demand for low-cost and customized PLM solutions; need for simulation & collaborative tools; shift from traditional to non-conventional end-use industries; focus on reduction in time-to-market; compliance requirements; increased focus on product innovations; and recovery in the manufacturing & industrial sectors worldwide.

Amid the COVID-19 crisis, the global market for Product Lifecycle Management (PLM) estimated at US$40.5 Billion in the year 2020, is projected to reach a revised size of US$59.7 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 5.8% CAGR to reach US$26.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 7.5% CAGR for the next 7-year period. This segment currently accounts for a 56.8% share of the global Product Lifecycle Management (PLM) market. Various enterprises are adopting PLM solutions across different application areas, which increases the demand for the services segment. Services are essential for easy installation, integration and for the software to function properly.

The U.S. Market is Estimated at $17.1 Billion in 2021, While China is Forecast to Reach $3.3 Billion by 2026

The Product Lifecycle Management (PLM) market in the U.S. is estimated at US$17.1 Billion in the year 2021. The country currently accounts for a 40.88% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$3.3 Billion in the year 2026 trailing a CAGR of 9.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR while Rest of European market (as defined in the study) will reach US$3.2 Billion by the end of the analysis period. Rapidly rising levels of industrialization, economic growth, rising GDP, continued shifting of manufacturing/production bases to low cost Asian countries across industrial sectors bodes well for the growth of PLM in developing countries. The growing trend of outsourcing research and design activities to third party service providers is helping generate robust demand for PLM in the Asia-Pacific region, led by countries such as China and India, which are a growing hub for design outsourcing. Continued developments in the industrial sector are also driving the adoption of PLM solutions in the region.

Select Competitors (Total 136 Featured)
  • Accenture
  • Aras Corporation
  • Arena Solutions, Inc.
  • Autodesk, Inc.
  • Centric Software, Inc.
  • Dassault Systemes SA
  • DXC Technology Co.
  • Gerber Technology
  • Lectra SA
  • Oracle Corporation
  • PTC
  • SAP PLM Alliance
  • Selerant Corporation
  • Siemens PLM Software, Inc.
  • Tata Technologies Ltd.
  • T-Systems International GmbH

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