Product Life cycle Management Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Product Lifecycle Management Market
The global product lifecycle management market size was valued at USD 24.82 billion in 2023 and is projected to grow from USD 26.24 billion in 2024 to USD 46.81 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted delivery chains and product improvement, increasing the decision for cloud-based total Product Lifecycle Management (PLM) answers. This shift allowed corporations to enhance collaboration, streamline strategies, and adapt to new marketplace-demanding conditions, especially in the manufacturing, automotive, and healthcare industries, impeding the product lifecycle management market growth.
Key drivers for the Product Lifecycle Management (PLM) market's boom are the growing demand for efficient product development, the need for more suitable collaboration throughout global teams, and the increasing adoption of digital generation like IoT, AI, and cloud computing.
The product lifecycle management (PLM) marketplace is experiencing a significant boom, pushed by the growing desire for companies to innovate faster, enhance merchandise, and decrease time-to-market, which is central to the growth of the product lifecycle management market share globally. Key trends include the upward push of cloud-primarily based PLM solutions, the mixing of Artificial Intelligence (AI) and Machine Learning (ML) for predictive analytics and procedure optimization, and the growing emphasis on sustainability and round financial device principles at some degree in the product lifecycle.
Comprehensive Analysis of Product Lifecycle Management Market
The Product Lifecycle Management (PLM) market is segmented through deployment, agency, and enterprise. In terms of deployment, the cloud segment is expected to revel in the highest growth due to virtual transformation, multiplied net and cell device penetration, and the rise of massive records. The on-premises segment gives flexibility, lower fees, and statistics security, which is attractive to giant corporations. By employer kind, big firms held the majority market proportion in 2023, leveraging PLM answers to decorate collaboration and streamline processes. The SME phase is expected to grow best using cloud computing. Regarding enterprise, the healthcare sector is ready to look for a speedy boom because of regulatory compliance needs. At the same time, the automobile region leads the market, driven via IoT integration and digital manufacturing traits.
The North America region led the product lifecycle management market by benefitting a size of USD 8.41 billion in 2023 due to the increase in cloud computing usage and the provision of predominant computing hardware and software agencies; the market holds the very best percentage.
The leading players in the Product Lifecycle Management (PLM) market significantly influence its growth trajectory and set industry standards. These key players, including PTC (U.S.), Siemens AG (Germany), Dassault Systèmes SE (France), Autodesk Inc. (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Aras Corporation (U.S.), Centric Software Inc. (U.S.), HCL Technologies Limited (India), and Infor Inc. (U.S.), contribute to a competitive landscape, driving innovation and market advancement in PLM solutions across various industries.
In May 2024, Clarks announced a partnership with Centric Software for its globalization extension platform. Centric Software’s PLM software helped Clarks plan, develop, design, source, price, and sell products, such as apparel, footwear, and others, to accomplish strategic and operative digital transformation objectives.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019–2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024–2032
Historical Period 2019–2022
Growth Rate CAGR of 7.5% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Deployment
Cloud
On-Premises
By Enterprise Type
Small and Mid-Sized Enterprises (SMEs)
Large Enterprises
By Industry
Automotive
Aerospace and Defense
Manufacturing
Healthcare
Retail
Others (Construction, Media and Entertainment, etc.)
By Region
North America (By Deployment, Enterprise Type, Industry, and Country)
U.S.
Canada
Mexico
South America (By Deployment, Enterprise Type, Industry, and Country)
Brazil
Argentina
Rest of South America
Europe (By Deployment, Enterprise Type, Industry, and Country)
U.K.
Germany
France
Italy
Spain
Russia
Benelux
Nordics
Rest of Europe
Middle East & Africa (By Deployment, Enterprise Type, Industry, and Country)
Turkey
Israel
GCC
North Africa
South Africa
Rest of the Middle East & Africa
Asia Pacific (By Deployment, Enterprise Type, Industry, and Country)
China
India
Japan
South Korea
ASEAN
Oceania
Rest of Asia PacificPlease Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Product Lifecycle Management (PLM) Key Players Market Share/Ranking, 2023
- 5. Global Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Cloud
- 5.2.2. On-Premises
- 5.3. By Enterprise Type (USD)
- 5.3.1. Small and Mid-sized Enterprises (SMEs)
- 5.3.2. Large Enterprises
- 5.4. By Industry (USD)
- 5.4.1. Automotive
- 5.4.2. Aerospace and Defense
- 5.4.3. Manufacturing
- 5.4.4. Healthcare
- 5.4.5. Retail
- 5.4.6. Others (Construction, Media and Entertainment, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Cloud
- 6.2.2. On-Premises
- 6.3. By Enterprise Type (USD)
- 6.3.1. Small and Mid-sized Enterprises (SMEs)
- 6.3.2. Large Enterprises
- 6.4. By Industry (USD)
- 6.4.1. Automotive
- 6.4.2. Aerospace and Defense
- 6.4.3. Manufacturing
- 6.4.4. Healthcare
- 6.4.5. Retail
- 6.4.6. Others
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. South America Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Cloud
- 7.2.2. On-Premises
- 7.3. By Enterprise Type (USD)
- 7.3.1. Small and Mid-sized Enterprises (SMEs)
- 7.3.2. Large Enterprises
- 7.4. By Industry (USD)
- 7.4.1. Automotive
- 7.4.2. Aerospace and Defense
- 7.4.3. Manufacturing
- 7.4.4. Healthcare
- 7.4.5. Retail
- 7.4.6. Others
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.2. Argentina
- 7.5.3. Rest of South America
- 8. Europe Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Cloud
- 8.2.2. On-Premises
- 8.3. By Enterprise Type (USD)
- 8.3.1. Small and Mid-sized Enterprises (SMEs)
- 8.3.2. Large Enterprises
- 8.4. By Industry (USD)
- 8.4.1. Automotive
- 8.4.2. Aerospace and Defense
- 8.4.3. Manufacturing
- 8.4.4. Healthcare
- 8.4.5. Retail
- 8.4.6. Others
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Benelux
- 8.5.8. Nordics
- 8.5.9. Rest of Europe
- 9. Middle East & Africa Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Cloud
- 9.2.2. On-Premises
- 9.3. By Enterprise Type (USD)
- 9.3.1. Small and Mid-sized Enterprises (SMEs)
- 9.3.2. Large Enterprises
- 9.4. By Industry (USD)
- 9.4.1. Automotive
- 9.4.2. Aerospace and Defense
- 9.4.3. Manufacturing
- 9.4.4. Healthcare
- 9.4.5. Retail
- 9.4.6. Others
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.2. Israel
- 9.5.3. GCC
- 9.5.4. North Africa
- 9.5.5. South Africa
- 9.5.6. Rest of the MEA
- 10. Asia Pacific Product Lifecycle Management (PLM) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Cloud
- 10.2.2. On-Premises
- 10.3. By Enterprise Type (USD)
- 10.3.1. Small and Mid-sized Enterprises (SMEs)
- 10.3.2. Large Enterprises
- 10.4. By Industry (USD)
- 10.4.1. Automotive
- 10.4.2. Aerospace and Defense
- 10.4.3. Manufacturing
- 10.4.4. Healthcare
- 10.4.5. Retail
- 10.4.6. Others
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.2. India
- 10.5.3. Japan
- 10.5.4. South Korea
- 10.5.5. ASEAN
- 10.5.6. Oceania
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. PTC
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Siemens AG
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Current Revenue
- 11.2.2.3. Company’s Strategic Alliances
- 11.2.2.4. Recent Developments
- 11.3. Dassault Systèmes SE
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Company’s Partner Ecosystem
- 11.3.2.4. Geographical Share
- 11.3.2.5. Business Segment Share
- 11.3.2.6. Recent Developments
- 11.4. Autodesk Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Current Revenue
- 11.4.2.3. Company’s Partner Ecosystem
- 11.4.2.4. Recent Developments
- 11.5. SAP SE
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Recent Developments
- 11.6. Oracle Corporation
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Current Revenue
- 11.6.2.3. Company’s Partner Ecosystem
- 11.6.2.4. Recent Developments
- 11.7. Aras Corporation
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Centric Software Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Company’s Partner Ecosystem
- 11.8.2.4. Geographical Share
- 11.8.2.5. Business Segment Share
- 11.8.2.6. Recent Developments
- 11.9. Infor
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Current Revenue
- 11.9.2.3. Recent Developments
- 11.10. HCL Technologies Ltd.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Recent Developments
- 12. Key Takeaways
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook