Product lifecycle management (PLM) is a method of managing a product throughout its lifetime including maintenance, development, production, and recycling phases. PLM is crucial in enterprises that support the concept, design & engineering, management of product portfolios, and cost optimization. It allows effective collaborative working at every stage, enhancing the way the entire business operates. Currently, product-oriented industries such as manufacturing and pharmaceutical are facing challenges such as increased competition and demand for product customization, in order to cater to specific individual needs and comply with stringent industry regulations.

Product lifecycle management refers to the handling of products as it moves through its product life, which includes: growth, maturity, and decline. Product lifecycle management can help manufacturers in decision-making from pricing to promotion. Product lifecycle management software can manage and transfer information effectively throughout the entire lifecycle of the product effectively. Product lifecycle management software is majorly getting adopted in various industries such as consumer electronics, industrial machinery, and packaged foods.

Market Dynamics:

Product lifecycle management is majorly getting adopted across various end use industries such as healthcare, manufacturing, and consumer electronics. PLM can easily manage information related to production, product development, and delivery process, through which the manufacturer can reduce operational and manufacturing costs, which in turn increases the profit. For instance, in December 2022, according to India Brand Equity Foundation (IBEF), under the ‘Make in India’ scheme, the central government of India is focusing to increase the share of the manufacturing sector up to 25% of countries GDP by the year 2025, which is expected to boost the demand for product lifecycle management over the forecast period.

The high initial cost of product lifecycle management is expected to hamper the growth of PLM over the forecast period

Key features of the study:

• This report provides in-depth analysis of the global Product Lifecycle Management Market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
• It profiles leading players in the global product lifecycle management market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
• Companies covered as part of this study Dassault Systems, Hewlett-Packard Company, PTC, Inc., Atos SE, Siemens AG, Accenture plc, Autodesk, Inc., IBM Corporation, SAP SE, and Aras Corporation.
• Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
• The global product lifecycle management market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global product lifecycle management market

Detailed Segmentation

• Global Product Lifecycle Management Market, By Component:
  
  • By Software
    • On-premise
      • Cax
      • NC
      • S&A
      • AEC
      • CPDM
      • Digital Manufacturing
      • EDA
      • Others
    • Cloud Based
      • Cax
      • NC
      • S&A
      • AEC
      • CPDM
      • Digital Manufacturing
      • EDA
      • Others
    • Service
      • Consulting
      • Integration
      • Operation and Maintenance
• Global Product Lifecycle Management Market, 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 (Marine, Chemical)
• Global Product Lifecycle Management Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Rest of Latin America
  • Middle East & Africa
    • By Country/Region:
      • GCC Countries
      • South Africa
      • Rest of Middle East and Africa
• Company Profiles
  
  • Dassault Systems*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments/ Updates
  • Hewlett-Packard Company
  • PTC, Inc
  • Atos SE
  • Siemens AG
  • Accenture plc
  • Autodesk, Inc
  • IBM Corporation
  • SAP SE
  • Aras Corporation

*Browse market data tables and figures on “Global Product Lifecycle Management Market -forecast to 2030”.