According to a comprehensive research report by Market Research Future (MRFR), “Cloud-Based PLM Market Research Report: by Component, by Technology, by Organization size, by Application, and by End User - Forecast till 2030”, the market is anticipated to acquire a valuation of approximately USD 137.51 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 17.10% during the assessment timeframe. In this market research 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.
Cloud-Based PLM Market Analysis
Key Players
Eminent market players profiled in the global cloud-based PLM market report include-
Dassault Systemes (France)
Siemens AG (Germany)
PTC Inc. (U.S.)
Oracle Corporation (U.S.)
SAP SE (Germany)
Autodesk, Inc. (U.S.)
Arena Solutions, Inc. (U.S)
Aras Corporation (U.S.)
Infor Inc. (U.S.)
Accenture PLC (U.S.)
IFS AB (Sweden)
Razorleaf Corp. (U.S.)
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Drivers
Evolution of Smart Factories and Connected Devices to Boost Market Growth
The evolution of smart factories and connected devices will boost market growth over the forecast period. Trends in digital transformation encourage the creation and application of the next generation of intelligent factories and products in sectors including heavy-duty manufacturing and automation. These intelligent products and plants are very complex in terms of connectivity, adherence to security, functioning, and other factors. To efficiently construct these interconnected devices, manufacturers need a system that incorporates mechanical, electrical, and software expertise. To generate these connected Products, software providers are putting their efforts into developing PLM software, which includes sophisticated features like 3D design, simulation, and testing the complex behavior of intelligent goods and production processes. As a result, the growing demand for linked devices should propel the PLM market's growth over the course of the projected period.
Opportunities
Integration into ERP System to offer Robust Opportunities
Customer management, Internet of Things (IoT), ERP system integration, managing re-engineering in real-time, 3D printing, and vendor management are some of the causes that have contributed to the increase in demand. In the anticipated time frame, all of these applications are anticipated to grow the market.
Restraints
Slower Adoption Rate to act as Market Restraint
The slower adoption rate of the cloud-based PLM solutions, lack of strong network of PLM providers and rising privacy may act as market restraints over the forecast period.
Challenges
Security Concerns to act as Market Challenge
Security concerns, lack of technical expertise, high cost of investment in initial implementation, higher charge for up gradation, and need for timely maintenance may act as market challenges over the forecast period.
Segmentation:
The study of the Cloud Based PLM Market Size 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.
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.
Reasons for Buying This Report:
It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
It Helps in Understanding the Key Product Segments and Their Future.
It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
Continued...
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