iCrowdNewswire Jan 14, 2021 11:17 AM ET
Cloud Based PLM Market Overview:
The global cloud-based PLM market is predicted to surpass USD 50 billion at a 15% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Cloud-based PLM is an internet-based system that helps to manage a product and its related information right from the concept up to the end. It has gained enough recognition with manufacturers as a means for managing the stages of product development to collaborate, regulate, and track changes to products. low cost ownership, strong product data management, seamless collaboration, innovation, and easy implementation are some of the key benefits of cloud-based PLM.
Various factors are driving the growth of the Cloud Based PLM Market. These factors, in accordance with the Market Research Future (MRFR) report, include growing demand for integrated PLM solutions, growing adoption of IoT (internet of things), effective supply chain management, 3D printing, managing re-engineering in real-time, effective customer management, and integration into the ERP system.
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Major Key Players:
Leading players profiled in the cloud-based PLM market report includes Razorleaf Corp. (US), IFS AB (Sweden), Accenture PLC (US), Infor Inc. (US), Aras Corporation (US), Arena Solutions, Inc. (US), Autodesk, Inc. (US), SAP SE (Germany), Oracle Corporation (US), PTC Inc. (US), Siemens AG (Germany), and Dassault Systemes (France) among others. The key market players are using various strategies such as acquisitions, mergers, innovations, cost-effective product portfolio, and increasing investments in R&D activities to create a foothold in the market. Moreover, they are also investing in cutting-edge technology and also acquiring other firms.
July 2019: Lectra has introduced its latest cloud-based platform Kubix Link which will integrate every fashion business process right from ideation to the point of sale. With its built-in digital asset management (DAM), product information management (PIM), and product lifecycle management (PLM) capabilities, Kubix Link will offer fashion companies with a consolidated view pertaining to all information of every product.
The Market Research Future report offers a wide segmental analysis of the cloud-based PLM market based on end user, application, technology, organization size, and component.
- Based on component, the cloud-based PLM market is segmented into services and software. The software segment is again segmented into digital manufacturing (DM), collaborative product definition management (CPDM), architecture, engineering and construction (AEC), electronic design and automation (EDA), simulation and analysis (S&A), numerical control (NC), and CAD/CAM/CAE. The services segment is again segmented into infrastructure as a service (IaaS), software as a service (SaaS), platform as a service (PaaS), and others.
- Based on technology, the cloud-based PLM market is segmented into near field communication, radio-frequency identification, and others.
- Based on application, the cloud-based PLM market is segmented into compliance management, customer management, collaborative design and engineering, product data management, portfolio management, and others. Of these, the customer management segment will have the largest share in the market over the forecast period.
- Based on organization size, the cloud-based PLM market is segmented into large enterprise and small and medium enterprise.
- Based on end user, the cloud-based PLM market is segmented into semiconductor and electronics, automotive and transportation, telecommunication and IT, industrial machinery and heavy equipment, energy and utilities, retail and consumer goods, healthcare and life sciences, aerospace and defense, and others. Of these, the retail and consumer goods segment will dominate the market over the forecast period.
Based on the region, the cloud-based PLM market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World. Of these, North America will lead the market over the forecast period. The US is the key contributor here. This is owing to advanced technological infrastructure coupled with the presence of several cloud-based solution providers in the region.
The cloud-based PLM market in the APAC region is predicted to have substantial growth over the forecast period. Japan, Republic of Korea, Taiwan, and China are the key contributors here. This is due to government agencies promoting cloud-based PLM constantly for data security.
Table of Contents
- Report Prologue
2.2 Scope of the Study
2.2.1 Research Objective
2.3 Market Structure
List of Tables
Table1 World Population by Major Regions (2017 To 2022)
Table2 Global Cloud-Based Plm Market: By Region, 2017-2022
Table3 North America Cloud-Based Plm Market: By Country, 2017-2022
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List of Figures
Figure 1 Global Cloud-Based Plm Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Cloud-Based Plm Market
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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Keywords: Cloud Based PLM Market, Cloud Based PLM Market Forecast, Cloud Based PLM Market Trends, Cloud Based PLM Market Size, Cloud Based PLM Market Segments, Cloud Based PLM Market Growth