Overview:
The current market size of USD 137.51 billion in 2030. The Cloud Based PLM Market Size is expected to rise at a compound yearly growth rate (CAGR) of 17.10% from 2020-2030 as per the report of Market Research Future (MRFR), in this report, also tracks various factors that can boost the market prospect. Its ability to improve communication between manufacturers and suppliers, streamlining the process, customer engagement, low cost, and others are expected to make sure that users get their hands on the cloud-based PLM without much hesitation. This growth would be further supported by a cloud-based product lifecycle management market. This report also studies the PLM market share as well as cloud based PLM market status, competition landscape, market share, growth rate, future trends & forecast.
The cloud-based PLM is a cost-effective tool facilitating low-maintenance devices. Additionally, the software offers various solutions, such as Numerical Control (NC), CAD/CAM/CAE (CAx), Simulation & Analysis (S&A), Architecture, Electronic Design & Automation (EDA), Engineering & Construction (AEC), Digital Manufacturing (DM), Collaborative Product Definition Management (CPDM), and many more.
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Resultantly, the global cloud-based PLM market is growing rapidly, witnessing wide adoption of this software. Besides, the market growth attributes to the significantly increased adoption of cloud-based PLM platforms across end-user verticals. Moreover, advantages that cloud-based PLM offers, such as lower IT management costs with flexibility, agility, and security, escalate the market demand.
Industries constantly adopt new software to enhance the growth and develop quality products and retain customer base. Furthermore, the rising adoption of cloud-based PLM integrated Internet of Things (IoT) drives the market growth.
Global Cloud-based PLM Market - Competitive Analysis
The fiercely competitive cloud-based PLM market appears fragmented due to the competitive landscape formed by many large & small players and new entrants. Product launch, agreement & partnership, M&A, and expansion are strategic initiatives traced from the recent proceedings in the market.
Major Players
- Dassault Systemes (France)
- Siemens AG (Germany)
- PTC Inc. (U.S.)
- Oracle Corporation (U.S.)
- SAP SE (Germany)
- Autodesk Inc.(U.S.)
- Arena Solutions Inc. (U.S.)
- Aras (U.S.)
- Infor (U.S.)
- Accenture PLC (U.S.)
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Global Cloud-based PLM Market – Segments
The report is segmented into six dynamics;
By Component : Software (CAD/CAM/CAE (CAx), Simulation & Analysis (S&A), Numerical Control (NC), Electronic Design & Automation (EDA), Collaborative Product Definition Management (CPDM), Architecture, Engineering & Construction (AEC), Digital Manufacturing (DM), and others ) and Services (Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and others).
By Organization Size: Small & Medium Enterprise (SME) and Large Enterprise.
By Technology : Near Field Communication, Radio-Frequency Identification, and others.
By Application : Portfolio Management, Product Data Management , Collaborative Design & Engineering, Customer Management, Compliance Management, and others.
By End User : Aerospace & Defense, Retail & Consumer Goods, Energy & Utilities, Healthcare & Life Sciences, Industrial Machinery & Heavy Equipment, Automotive & Transportation, Telecommunication & IT, Semiconductor & Electronics, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
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Cloud-based PLM Market – Regional Analysis
North America dominates the global cloud-based PLM market. The largest market share attributes to the wide adoption of cloud-based PLM platforms and services. Besides, technology upgrades and increased adoption of cloud-based technologies across various industry verticals drive market growth.
The US accounts for a leading share in the regional market for cloud-based technologies due to the futuristic technology infrastructure and the presence of many cloud-based solution providers. The North American cloud-based PLM market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global cloud-based PLM market. The region is one of the key markets for cloud-managed services, influencing the cloud-based PLM market growth. Additionally, the proliferation of the Internet, IIoT, and smart connected devices, alongside the proliferation of a cloud-based PLM system, boosts market valuation. The European cloud-based PLM market tool is expected to witness significant growth during the forecast period.
The cloud-based PLM market in the Asia Pacific region is growing at a rapid pace. Factors such as government initiatives to promote cloud-based PLM for data security and the increasing adoption of cloud-based business applications across industries boost the regional market growth. Furthermore, increasing demand for cloud computing positively impacts the market growth in the region.
Japan, South Korea, China, and India hold a considerably fair share in the regional market and grow rapidly in the years to come. The APAC cloud-based PLM market is expected to register the highest CAGR over the forecast period, emerging as the fastest-growing market.
Reasons for Buying This Report:
- It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
- It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
- It Helps in Understanding the Key Product Segments and Their Future.
- It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
- It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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