The Business Research Company’s report goes into great detail on the product lifecycle management market size and growth, product lifecycle management market regional analysis, product lifecycle management market competitive landscape, and other critical information needed to excel in the product lifecycle management industry.

Major players in the product lifecycle management market include Oracle Corporation, Siemens AG, PTC Inc., Dassault Systèmes SE, Autodesk, Inc.

TBRC’s comprehensive market report based on extensive research will assist you in seamlessly devising your approaches in order to match key market player strategies.

The product lifecycle management market is expected to grow from $30.76 billion in 2020 to $33.02 billion in 2021 at a growth rate of 7.4%. The product lifecycle management market size is expected to grow at a CAGR of 8.0% from 2020 to reach $45.19 billion in 2025. The product lifecycle management market size is expected to reach $70.25 billion in 2030, at a CAGR of 9.2%.

North America was the largest region in the global product lifecycle management market, accounting for 36.5% of the total in 2021.

The product lifecycle management (PLM) market consists of sales of product lifecycle management software and services by entities (organizations, sole traders, and partnerships) that are engaged in providing a better strategic process for managing the complete journey of a product from initial ideation, development, service, and disposal. PLM refers to managing every step of the process involved with a product from raw material to finished product. The PLM process is inclusive of the manufacturing and marketing of the goods and involves pricing and advertising to expansion or cost-cutting. The concept of product life cycle management assists organizations in making smart business decisions.

The growing adoption of product lifecycle management (PLM) by end-use industries is expected to propel the growth of the product lifecycle management (PLM) market in the coming years.

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The adoption of cloud deployment is increasingly gaining traction in product lifecycle management. Cloud PLM software is a tool that is used for managing product lifecycles at any time and from any location. These programs can help users keep track of new designs and all the iterations. They can also improve communication and transparency among internal teams. The adoption of cloud technologies in the organization across various industries are increasing.

TBRC’s global product lifecycle management market report is segmented:
By Component: Software, Services

By Deployment: On-Premise, On-Cloud

By End-User: Automotive and Transportation, Industrial Machinery, Electronics and Semiconductors, Retail, Energy and Utilities, Aerospace and Defense, Pharmaceuticals, IT and Telecom, Others

By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The Product Lifecycle Management Market Report 2022 is one of a series of new reports from The Business Research Company that provides an overview of the product lifecycle management market globally and regionally, analyzes and forecasts market size, share, product lifecycle management market players, product lifecycle management market segments, leading competitor revenues, profiles and market shares

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