Global PLM Software Market In The Automotive Sector 2024-2028
The PLM software market in the automotive sector is forecasted to grow by USD 2.61 bn during 2023-2028, accelerating at a CAGR of 7.5% during the forecast period. The report on the PLM software market in the automotive sector provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by a rise in IoT integration, the need to reduce product development time, and a rise in the production of automobiles.
Technavio's PLM software market in the automotive sector is segmented as below:
By Product
- Collaborative product data management
- Computer-aided design
- Simulation and analysis
- Digital manufacturing
By Application
- Passenger vehicle
- Commercial vehicle
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the automatic real-time tracking of products as one of the prime reasons driving the PLM software market in the automotive sector growth during the next few years. Also, the rise in digital manufacturing and interlinking of PLM with other feature-rich software will lead to sizable demand in the market.
The report on the PLM software market in the automotive sector covers the following areas:
- PLM software market in the automotive sector sizing
- PLM software market in the automotive sector forecast
- PLM software market in the automotive sector industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading PLM software market in the automotive sector vendors that include ANSYS Inc., Aras Corp., Autodesk Inc., Bentley Systems Inc., Cadence Design Systems Inc., Cadonix Ltd., Dassault Systemes SE, Hexagon AB, Infor Inc., IronCAD LLC, Oracle Corp., PTC Inc., SAP SE, Siemens AG, Trimble Inc., Synopsys Inc., and Arena Solutions Inc. Also, the PLM software market in the automotive sector analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape and an analysis of the key vendors.
The publisher presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.