Frost Radar™: Product Lifecycle Management, 2024

Frost Radar™: Product Lifecycle Management, 2024

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

The Frost Radar™ on product lifecycle management (PLM) offers a competitive benchmark analysis derived from Frost & Sullivan’s Global PLM Growth Opportunities study published in April 2024. It ranks 11 companies that best re?ect the PLM industry landscape on their growth potential and ability to innovate and disrupt.

Global PLM industry revenue stood at $7.84 billion in 2023. Frost & Sullivan expects it to reach $13.12 billion by 2030, achieving a compound annual growth rate of 7.6% from 2023 to 2030. Supply chain uncertainty, environmental regulations, the growing need for faster and less costly manufacturing, and the emergence of software-as-a-service (SaaS) models have kept the market growing. The industry recently witnessed the arrival of new competitors with cloud-native offerings and unique characteristics that differentiate them, as well as the growth of the partner ecosystem of many of the top competitors—speci?cally those that act as value-added resellers and service providers. Most companies have embraced the cloud because SaaS models are seen as the future in terms of customer alignment and revenue predictability.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive pro?les of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.