Global Product Data Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Product Data Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Product Data Management (PDM) is the use of software to manage product data and process related information in a single central system. This information includes computer-aided design data, models, part information, manufacturing instructions, requirements, notes, and documentation. PDM is a part of product lifecycle management and configuration management, mainly used by engineers, operations managers, salespeople, marketers, etc. PDM software can help manufacturers and retailers build effective digital ecosystems, improve management data and automate workflow levels.

Market Overview:

The latest research study on the global Product Data Management Software market finds that the global Product Data Management Software market reached a value of USD 2578.41 million in 2022. It’s expected that the market will achieve USD 4149.27 million by 2028, exhibiting a CAGR of 8.25% during the forecast period.

Influence of COVID-19 Outbreak on Product Data Management Software Industry Development

The COVID-19 pandemic has had a severe negative impact on the global economy. The global economy contracted by 3.5% in 2020, according to the International Monetary Fund. At the same time, the pandemic has triggered health and fiscal obligations at unprecedented speed and scale. Globally, fiscal support in 2020 will amount to almost $16 trillion (about 15% of global GDP). Central banks in many countries have slashed interest rates. In theory, this would lower borrowing costs and encourage consumers to boost the economy. In 2021, as countries began to reopen and vaccines came out, the global economy began to recover, but it was still below the level of development before the epidemic, and there were imbalances between countries and regions.

The COVID-19 pandemic will exacerbate poverty and inequality. The pandemic, which has largely destroyed low-skilled and low-wage jobs while leaving high-skilled jobs to a lesser extent, will exacerbate income inequality both within and between countries. The devaluation of human capital among recent graduates has wider societal implications for lost ideas, innovation, and dynamism. The COVID-19 pandemic has impacted different sectors and industries differently. The tourism and hospitality industries have been severely disrupted, with airlines cutting flights and customers canceling business trips and holidays. Large numbers of workers are placed on government-backed job retention schemes. New virus variants have forced many countries to impose stricter travel restrictions. Large economies that have been hit hard by the outbreak, such as Britain or Italy, rely on services and are expected to recover slowly. On the other hand, e-commerce is booming as more people choose to purchase goods online, retailers are forced to close stores, and consumers are forced to stay at home. For example, Amazon's net sales revenue set new records in both 2020 and 2021.

Advantages of PDM software

The core functions of PDM include integration, security, collaboration, accountability, and assistance. Components of PDM include CAD management systems, engineering change requests, external collaboration, remote access, compliance and privacy, and more. PDM software has many advantages. First, PDM software makes engineering data easily accessible, allowing engineering teams to easily share files, communicate, and collaborate. Project managers, engineers, salespeople, buyers, and quality assurance teams all benefit from the knowledge management and reporting capabilities of a PDM system. Having a single source of truth for data keeps everyone on the same page, increasing agility, responsiveness, and creativity. Second, effective product data management reduces product development, waste, errors, and post-sales costs. Businesses also use PDM software to leverage existing resources to improve product development processes, increase productivity and shorten cycle times. Most manufacturers use services such as shared drives, FTP, or Dropbox to store and share data. Some use email only. They lack proper metadata structure, quickly become clogged with duplication and multiple versions, and are not secure. The security components of PDM software can make the enterprise's intellectual property get the most complete protection, including role management, access rights, security folders, and so on. In addition, companies need to consider regulatory requirements when developing products. This applies to testing products, obtaining certification, and approval that the final product is ready for the market. PDM software helps create products by retaining important information, and it also keeps businesses aware of regulatory standards. Hence, with increasing awareness of the benefits of PDM software, rising demand for centralized product data management solutions, and the need to facilitate collaboration among production teams across the globe, different industries are expected to create a growing market for PDM software providers' income opportunities.

Increased applications in the automotive and transportation industry

The growing popularity of digital manufacturing and the increasing integration of the Internet of Things in the production of smart cars are the main trends for future growth in the automotive industry. Developers working on autonomous vehicles are reevaluating production and operating processes as autonomous vehicles become more common. A fully functional self-driving system requires some of the most complex software to combine various data, such as information from sensors, traffic data from the cloud, and data from other vehicles or infrastructure, and tie it all into the vehicle's electronics and Mechanical components to create a network of in-vehicle systems. All of these systems need to work together reliably without user input or corrections. PDM software can maximize the value and return of automotive industry solutions under one easy-to-use interface, including requirements management, project management, component engineering, advanced product quality planning, process planning, and technical documentation. The adoption of PDM software helps automakers manage multiple complex bills of materials while supporting global manufacturing and supply chains and minimizing shipping errors. For example, Siemens and Minerva have launched a full set of smart car PDM solutions to meet the challenges of today's fast-paced environment in the global automotive industry. Hence, there is an increasing demand for PDM software in the automotive and transportation industry.

Disadvantages of PDM software

PDM software also has some disadvantages. The first is its expensive installation and maintenance costs. Although it will benefit the overall production efficiency of the enterprise in the long run, the high cost also limits the needs of some customers. The resources required to deploy a complex PLM system are enormous. In addition to training employees, businesses also need to ensure they are using the right complementary tools for optimal workflow. Many manufacturers are dealing with an ever-increasing number of manufactured components in response to ever-increasing market demands and product updates. A PDM system may not be able to load components above a certain size or complexity. Organizations in the manufacturing industry often create and manage PDM system information in their format. Users sometimes need to share information across the organization or with external partners but in rarely compatible formats. At this point, the user has to go through a time-consuming process to convert the file. Conversion often results in the loss of data such as geometric features, symbols, and metadata. In addition, downstream customers usually want to customize PDM software according to their own needs, which requires software suppliers to write new codes. And newer platform releases may break custom elements, requiring special regression testing. In general, some shortcomings of PDM software may hinder the expansion of enterprise market share.

Region Overview:

In 2022, the share of the Product Data Management Software market in North America stood at 36.14%.

Company Overview:

The major players operating in the Product Data Management Software market include Siemens Teamcenter, Autodesk, Dassault Systemes, PTC Windchill, SAP, etc. Among which, Siemens Teamcenter ranked top in terms of sales and revenue in 2023.

Siemens Digital Industries Software and Siemens Xcelerator are transforming everyday life, giving companies like yours the agility, flexibility, and adaptability to turn ideas into innovations with greater efficiency and speed.

Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media, and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all.

Over 100 million people use Autodesk software like AutoCAD, Revit, Maya, 3ds Max, Fusion 360, SketchBook, and more to unlock their creativity and solve important design, business, and environmental challenges. Our software runs on both personal computers and mobile devices and taps the infinite computing power of the cloud to help teams around the world collaborate, design, simulate and fabricate their ideas in 3D.

Segmentation Overview:

By type, Cloud-based segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Product Data Management Software market covered in Chapter 3:

Aras Innovator
Infor
Oracle
Propel
Dassault Systemes
TIBCO
Cadac Organice
Plytix
Specright
Autodesk
Siemens Teamcenter
SAP
CMPRO
PTC Windchill
Synergis Adept
PDXpert

In Chapter 4 and Chapter 14.2, on the basis of types, the Product Data Management Software market from 2018 to 2029 is primarily split into:

Cloud-based
On-premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Product Data Management Software market from 2018 to 2029 covers:

Large Enterprises
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)