Selbyville, Delaware, Global Product Lifecycle Management Market size to reach USD 80.35 billion by 2027 and is valued approximately USD 54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.8% over the forecast period 2021-2027.
Product lifecycle management refers to an idea for managing all data relating to the design, production, support and ultimate disposal of manufactured goods. This handling involves both the manufacturing of the good and the marketing of it.
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The growing demand for Product Lifecycle Management solutions in small, medium and large enterprises across various industries, digital adoption in several industries and technological advancements are the major factors nurturing the market growth. New technological trends such as additive manufacturing and engineering Augmented Reality (AR), and Virtual Reality (VR) will further propel the market. The demand from end use industries such as automotive, retail and manufacturing are growing, According to ILO, global EV sales exceeded 5.1 million units in, increasing by 2 million units from 2017, while in Europe and the United States, sales increased by 385,000 and 361,000 EVs, respectively in 2017-18. At the same time in 2018, China retailed nearly 1.1 million EVs and had 2.3 million active electronic vehicles, making it the largest EV market in the world. United Nations Conference on Trade and Development states that the global e-commerce sales jumped to $26.7 trillion in 2019, up 4% from $25.6 trillion in 2018. Associated deployment costs and integration challenges in the software may act as a restraint for its growth. However, increasing digital penetration in developing countries acts as an opportunity for Product Lifecycle Management Market in subsequent decade.
Major market player included in this report are:
- SAP SE
- IBM Corporation
- Dassault Systemes.
- Atos SE.
- Autodesk, Inc
- PTC, Inc
- Siemens AG
- Accenture PLC
- Hewlett-Packard Company
- Oracle Corporation
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Product Lifecycle Management Market. Due to faster technological adoption as well as higher per capita income, North America has emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit the highest growth rate for the forecast period 2021-2027 owing to the growing demand for digital solutions. Rising disposable income will also boost growth in this region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End User:
- Automotive And Transportation
- Industrial Machinery
- Electronics And Semiconductors
- Energy And Utilities
- Aerospace And Defense
- IT And Telecomm
Global Product Lifecycle Management Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Product Lifecycle Management market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027.
Some of the major questions addressed in the report are:
- What are the crucial factors driving the market?
- What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
- What was the market size value of the Product Lifecycle Management in 2020?
- What shall be the Product Lifecycle Management Market size by 2027?
- Which region shall account for the largest market share of the Product Lifecycle Management Industry?
- What are the market threats and opportunities considered by the vendors in the Product Lifecycle Management Market?
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