Major factors expected to drive the growth of the 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.
On-premises segment expected to hold a larger market share. The on-premises deployment type refers to the installation of the product lifecycle management on the premises of an organization rather than at a remote facility. On-premises solutions are delivered with a one-time licensing fee, along with a service agreement.
Support and maintenance services segment expected to grow at a higher CAGR during the forecast period. Support and maintenance services are crucial, as they directly deal with customer satisfaction and issues. Every software vendor has a dedicated support team to serve the customers. Support, software maintenance, customer portal, post-deployment assistance, and client testimonials are some of the services provided under the support and maintenance segment. To derive consistent customer satisfaction, service providers regularly focus on enhancing their product knowledge base by receiving feedbacks through interviews and surveys. These services also provide a single point of contact who would help solve customer issues quickly. The customer portal is another helping aid that offers technical tips and software updates to customer forums.
North America is expected to hold the largest market share. North America consists of developed countries, such as the US and Canada. This region is open to the adoption of new and emerging technologies. Moreover, its strong financial position enables it to invest heavily in the adoption of the latest and leading tools and technologies for ensuring effective business operations. Such advantages help organizations in this region gain a competitive edge. North America has the first-mover advantage in the adoption of new technologies, such as smartphones and cloud platforms. North America has the headquarters of many large enterprises and is host to various international events. Enterprises are willingly investing in North America.
Key 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), and TCS (India).
Key questions the report answers:
· Where will all these developments take the industry in the long term?
· What are the upcoming trends for the product lifecycle management market?
· Which segment provides the most opportunity for growth?
· Who are the leading vendors operating in this market?
What are the opportunities for new market entrants?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Growing Focus on Developing Groundbreaking Smart Products and Factories
3.1.2. Increasing Need to Build Product Innovation Platforms Would Support Product Lifecycle Management-Enabled Applications
3.1.3. Growing Demand for Cloud-Based Product Lifecycle Management Solutions to Achieve Scalability and Secure IT Infrastructure
3.2.1. Slow Adoption of Product Lifecycle Management Solutions Among Small and Medium-Sized Enterprises
3.2.2. Lack of Interoperability and Integration of Complex Systems
3.3.1. Leveraging Innovative Technologies to Streamline the New Product Development Process
3.3.2. Increasing Integration of Product Lifecycle Management Solutions With Internet of Things Platforms
4. Executive Summary
5. Product Lifecycle Management Market By Component
5.1.1. Collaborative Product Definition Management Software
5.1.2. Mechanical Computer Aided-Design Software
5.1.3. Simulation and Analysis Software
5.1.4. Digital Manufacturing Software
5.2.1. Professional Services
184.108.40.206. Deployment and integration
220.127.116.11. Support and maintenance
5.2.2. Managed Services
6. Product Lifecycle Management Market By Deployment Type
7. Product Lifecycle Management Market By Organization Size
7.1. Small and Medium-Sized Enterprises
7.2. Large Enterprises
8. Product Lifecycle Management Market By Vertical
8.1. Automotive and Transportation
8.2. Industrial Machinery and Heavy Equipment
8.3. Aerospace and Defense
8.4. Semiconductor and Electronics
8.5. Energy and Utilities
8.6. Retail and Consumer Goods
8.7. Healthcare and Life Sciences
9. Product Lifecycle Management Market By Region
9.1. North America
9.2.3. Rest of Europe
9.3. Asia Pacific
9.3.3. Rest of APAC
9.4. Middle East and Africa
9.4.1. Kingdom of Saudi Arabia
9.4.2. South Africa
9.4.3. Rest of Middle East and Africa
9.5. Latin America
9.5.3. Rest of Latin America
10. Company Profiles
*Company introduction, financial information, recent developments, SWOT analysis
11. Conclusion and Recommendations