Overview:

The global market report studying various aspects of the cloud-based PLM market declares that the market may register a CAGR worth 15% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in this report, also tracks various factors that can boost the market prospect. Its ability to improve communication between manufacturers and suppliers, streamlining the process, customer engagement, low cost, and others are expected to make sure that users get their hands on the cloud-based PLM without much hesitation. This growth would be further supported by a cloud-based product lifecycle management market.

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Segmentation:

The study of the Cloud-Based PLM Market includes a segmentation that assists in forming strategies. These segments are organization size, component, application, technology, and end user.

By component, the global market can be studied on the basis of software and services. The software segment comprises Numerical Control (NC), Simulation & Analysis (S&A), CAD/CAM/CAE (CAx), Digital Manufacturing (DM), Architecture, Electronic Design and Automation (EDA), Collaborative Product Definition Management (CPDM), Engineering and Construction (AEC), and others. By services, the global market report can be studied on the basis of Platform as a Service (PaaS), Software as a Service (SaaS), Infrastructure as a Service (IaaS), and others.

By technology, the global report on the cloud-based PLM market includes near field communication, radio-frequency identification, and others.

By application, the market includes product data management, portfolio management, customer management, collaborative design and engineering, compliance management, and others.

By organization size, the market studies small and medium enterprises (SME) and large enterprises.

By end user, the report includes healthcare & life sciences, aerospace & defense, energy & utilities, industrial machinery & heavy equipment, semiconductor & electronics, retail & consumer goods, automotive & transportation, telecommunication & IT, and others.

Industry News:

In August 2020, New Generation Computing, Inc. (NGC), known for being a leading provider of digital supply chain solutions, announced that Weissman, a company with a great reputation in designing dancewear and costumes, included NGC’s PLM, supply chain management (SCM), vendor compliance, and quality control solutions. The decision from Weissman to partner with NGC is an initiative to set a proper platform for future growth and success.

In July 2020, Centric Software announced that they would be opening a branch in Vietnam, where they will introduce Product Lifecycle Management (PLM) solutions to the local community. The company, Centric Software, made a name for itself by providing innovative enterprise solutions to end user industries like retail, footwear, outdoor, fashion, consumer goods, luxury, and home décor companies to make sure they achieve their digital transformation goals. The software has emerged as a must-have backbone technology that drives all the product-related activities covering from concept to retail for retailers, original design manufacturers (ODMs), brands, and original equipment manufacturers (OEMs). 

The recent crisis that happened due to the COVID-19 pandemic and its aftermath are expected to bolster the demand for the cloud-based PLM market as its expertise in handling businesses in various ways is already a proven document. 

Regional Analysis:

North America has the scope to make sure that the market gets maximum exposure. End users in the region are impacting the intake in significant ways. Among countries, the US and Canada are showing notable opportunities for growth.

Competitive Landscape:

Some of the eminent players to impact the cloud-based PLM market are Siemens AG (Germany), Dassault Systemes (France), Oracle Corporation (U.S.), PTC Inc. (U.S.), Arena Solutions, Inc. (U.S), SAP SE (Germany), Autodesk, Inc. (U.S.), Infor Inc. (U.S.), Aras Corporation (U.S.), IFS AB (Sweden), Accenture PLC (U.S.), and Razorleaf Corp. (U.S.).

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Cloud Based PLM Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030

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