Published on : May 30, 2016
ALBANY, New York, May 30, 2016: The research report, titled “Global Cloud Product Lifecycle Management Market 2016-2020,” says that the market is expected to a show positive growth trend in the coming years. This document evaluates the factors driving the market and the ones restraining it. According to the research report, the global cloud PLM market is likely to surge at a CAGR of 8.79% between 2016 and 2020.
The global market for cloud product lifecycle management (PLM) is expected to expand due to the rising need to reduce operational costs. The introduction of cloud product lifecycle management solutions and software in companies has led users to achieve a drop in costs in several stages of product lifecycle such as development, planning, support, and manufacturing. In the long run, this reduction is likely to bring down costs of eventual output as well. The ability of cloud PLM to cut down expenditure and provide access to IT infrastructure without incurring heavy capital expenditures, it is expected to gain momentum amongst end users in the coming few years.
Cloud PLM software has played a huge role in product designing, design engineering, and manufacturing. To say the least, this software has been pivotal in the modern ways of conceptualization and bringing the product to the shelf. The increasing need to make sophisticated products to simplify operations has also played a major role in augmenting this market.
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The global cloud PLM software market has been segmented on the basis of software into DM, cPDM, and CAD. Geographically, this market has been segmented into the Americas, Europe, the Middle East and Africa, and Asia Pacific. The ongoing trend of increasing support of cloud PLM to the IoT devices will also provide a considerable impetus to this market. The global IoT market is expected to deploy cloud PLM software to develop smart connected devices that will provide improved solutions to sectors such as aerospace and defense and automotive. Hence, the growth of the IoT market will be directly proportionate to the growth of cloud PLM market. However, the biggest challenge for this market has been the increasing concerns about data security.
The research report profiles some of the top players in the global cloud PLM market. The top players operating in this market are PTC, Siemens PLM, AutoDesk, and Dassault Systemes. The report provides an insightful take on their financial outlook, investment plans, research and development activities, strategic mergers and acquisitions, and expansion plans for the near future. For a further understanding, the report also includes an assessment of the regulatory framework governing these players that are defining the progress of the overall market. The research report answers questions pertaining to the size of the market by the end of the forecast period and the important market trends.
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