MarketsandMarkets projects the product lifecycle management market to grow from USD 50.7 billion in 2019 to USD 73.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period. Major factors expected to drive the growth of the product lifecycle management market include growing focus on developing ground breaking smart products and factories, increasing need to build product innovation platform would support product lifecycle management-enabled applications, and growing demand for cloud-based product lifecycle management solutions for scalability and secure IT infrastructure.
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Key and emerging market players include SAP (Germany), Dassault System (France), PTC (US), Siemens (Germany), Autodesk (US), IBM (US), Oracle (US), HP (US), Atos (France), Accenturs (Ireland), Arena (US), Ansys (US), Aras (US), Infor (US), Propel (US), Kalypso (US), FusePLM (US), Bamboo Rose (US), Inflectra (US), TCS (India). These players have adopted various strategies to grow in the product lifecycle management market.
Siemens (Germany) is a global firm that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company focuses on the areas of electrification, automation, and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company has a large clientele base of more than 379,000 employees across the globe. In the PLM market, Siemens offers Teamcenter, it's flagship product which effectively automates the production process by implementation of digital twin technologies across the life cycle process. Moreover, the company primarily focuses on organic and inorganic strategies to strengthen its position in the market. The company has partnered with key players in the market to expand its positions across the globe and strengthen its PLM product portfolio in the market. In September 2019, Siemens collaborated with Bentley to introduce the Capital Asset Lifecycle Management solution for Teamcenter. The solution built to help companies make the transition to digitalization and realize greater efficiency throughout the lifecycle of their capital assets.
PTC (US) is a global leader in offering computer software and services in the market. The company intends to offer these innovative products to multiple industry verticals and make a customer base that includes a variety of customers. Due to this, PTC invests heavily in R&D of technology. Its main PLM products are Windchill, Integrity, and Navigate. These PLM products are designed to address challenges that companies face over the life of their products. These software products help customers manage product configuration information through each stage of the product lifecycle, and communicate and collaborate across the enterprise, including product development, manufacturing and the supply chain, including sourcing and procurement. Due to the large customer base across the globe, the company provides solutions and software that adhere to the compliance and law policy of every region and maintain the support operations. PTC aims to expand its market share by covering small- and medium-sized enterprises. The company is continuously competing with technology providers that target discrete manufacturers and addresses one or more specific functional areas similar to the PTC. In June 2019, PTC partnered with Vodafone enabling customers to develop new IoT and Augmented Reality (AR) applications. This partnership would combine the strengths of both companies to allow customers to create more an end-to-end solution to solve business challenges.
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Major factors expected to drive the growth of the product lifecycle management market include growing focus on developing groundbreaking smart products and factories, increasing need to build product innovation platform would support product lifecycle management-enabled applications, and growing demand for cloud-based product lifecycle management solutions for scalability and secure IT infrastructure.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=152565174Key and emerging market players include SAP (Germany), Dassault System (France), PTC (US), Siemens (Germany), Autodesk (US), IBM (US), Oracle (US), HP (US), Atos (France), Accenturs (Ireland), Arena (US), Ansys (US), Aras (US), Infor (US), Propel (US), Kalypso (US), FusePLM (US), Bamboo Rose (US), Inflectra (US), TCS (India).
These players have adopted various strategies to grow in the product lifecycle management market.Siemens (Germany) is a global firm that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years.
The company focuses on the areas of electrification, automation, and digitalization.
One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry.
In September 2019, Siemens collaborated with Bentley to introduce the Capital Asset Lifecycle Management solution for Teamcenter.
The solution built to help companies make the transition to digitalization and realize greater efficiency throughout the lifecycle of their capital assets.PTC (US) is a global leader in offering computer software and services in the market.
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Secondary research techniques are implemented for better understanding and clarity for data analysis.The report for Product Lifecycle Management market analysis & forecast 2018-2023 is segmented into Product Segment, Application Segment & Major players.Region-wise Analysis Global Product Lifecycle Management Market covers:United StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South America The Major players reported in the market include: AutodeskDassault Systemes SEPTCSiemens PLMApparel magicArasArenaOmnifyOracle AgileInforFor More Information, Please Visit https://www.upmarketresearch.com/home/enquiry_before_buying/8167Global Product Lifecycle Management Market: Product Segment Analysis: SoftwareHardwareServiceGlobal Product Lifecycle Management Market: Application Segment Analysis:ManufacturingConsumer ElectronicsHealthcareAutomotiveOtherThe Report covers in-depth analysis as follows:Chapter 1 Report OverviewChapter 2 Global Growth TrendsChapter 3 Market Share by Key PlayersChapter 4 Breakdown Data by Type and ApplicationChapter 5 United StatesChapter 6 EuropeChapter 7 ChinaChapter 8 JapanChapter 9 Southeast AsiaChapter 10 IndiaChapter 11 Central & South AmericaChapter 12 International Players ProfilesChapter 13 Market Forecast 2018-2025Chapter 14 Analyst's Viewpoints/ConclusionsChapter 15 AppendixBuy Product Lifecycle Management Market analysis & forecast 2018-2023 Report along with complete TOC @https://www.upmarketresearch.com/buy/product-lifecycle-management-market“Product Lifecycle Management Market Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
