Cloud Based PLM Market Research Report- Global Forecast 2030

Global Cloud-Based PLM Market Research Report: by Component (Software and Services), by Technology (Radio-Frequency Identification, Near Field Communication, and Others), by Organization size, by Application, and by End User - Forecast till 2030

ID: MRFR/ICT/1026-HCR | November 2022 | Region: Global | 110 Pages         

Cloud-Based PLM Market

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.

Segmentation

By Component Software Services
By Technology Radio-Frequency Identification Near Field Communication

Key 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.)

Drivers

  • Cloud-Base Benefits
  • Cloud-Network Area
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Market Overview


Cloud Based PLM Market Growth is projected to increase prominently in the next five to six years from


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.


Most of the PLM software market revenue is originated from North America and EMEA regions. These both regions constitute 73.7% of the total market revenue with a North American share of 37.5% and an EMEA share of 36.2% respectively. The long-term trend for the PLM market projects that the developed countries of North America and Western Europe market will continue to rise and showcase the highest business opportunities for vendors and stakeholders. Both the regions will grow at a CAGR of 7.7% and 7.1% respectively during the projected period (2018-2023).


Global Cloud based PLM Market, 2017-2023 (USD Billion)  


Source: MRFR Analysis


The global cloud-based PLM market is expected to reach USD 18.57 billion by 2030 growing at a 15% CAGR over the forecast period 2017-2030.


COVID 19 Impacts and effects


The Cloud Based PLM Industry is an Internet-based system for managing a product and its related information from the innovation stage of the product to the end of its life. The major factor pushing the growth of the market is the rising adoption of the Internet of things (IoT). The COVID-19 pandemic has made a positive impact on the cloud-based PLM market. The pandemic has affected the whole world, because of the lockdown. People were forced to stay at home and work remotely to reduce human contact, this trend boosted the growth of the IoT, which, in turn, increased the popularity index of the cloud-based PLM market. IoT has provided new avenues to collect information on product functionality and insights on dynamic consumer behavior. Companies can now forecast their future into the IoT as they try to make informative data more actionable and accessible by co-relating cloud-based PLM systems with the IoT. Earlier it was difficult to centralize the data management for information gathering and data sharing. During the pandemic, old methods have been completely washed off and created new hosted infrastructure, and new SaaS cloud-based PLM systems, this has increased the efficiency in data sharing.                                                                                


Market Dynamics



  • Major Drivers of The Market


The best three performers and technology commanders in the global PLM market are PTC, Dassault Systems, and Siemens in the global PLM Market. These vendors have cohesive technology and understands breadth and depth of design, simulation processes, data management of the product, technical innovation, and digital manufacturing solution sets. These three are the frontrunners in their PLM solution portfolio. SAP is is the leader in providing PLM solution tightly integrated with business systems, collaborative technological innovation, and amazing analytics capabilities.



  • Significant Opportunities For The Market


According to the Cloud Based PLM Market Analysis, during the forecasted period the Portfolio Management application will have the maximum share. The application helps the management and the decision-makers to assure that they are working towards the right innovation techniques with the right resources and strategies throughout the product life cycle. It also assists in reforming the resources by optimum planning and facilitating resources and financial hurdles.


The North American region is desired to have the largest market share in 2016, while APAC is the next in line in terms of CAGR. There are plenty of factors such as improved and developed IT infrastructure, growing internet penetration, and rising number of connected modern devices that support the growth of the cloud-based PLM market in APAC.



  • Market Restraints


The major hurdle in the past was the concentration of data management for information and data sharing. During the pandemic, old methods have been worn out, so the companies are working towards creating new hosted infrastructure, and new SaaS cloud-based PLM systems that generate a new norm of efficiency in data sharing. The agencies are having severe revenue losses, decrease in budgetary cuts. The companies are lessening their investments in technology hardware, which gives an advantage to SaaS and thus drives the growth index of the Cloud Based PLM Market Share.



  • Market Growth Challenges


The Cloud Based PLM Company vendors are making a significant financial investment towards developing product and innovation technologies. The major PLM vendors are concentrating on building different out-of-the-box processes and applications that can instantly deploy promptly leveraging an integrated product development platform. It requires a robust ecosystem of technology that can support a wide variety of applications.



  • Cumulative Growth Analysis


There is a serious need for upgrades in the Cloud Based PLM Business. Continuous innovation is required. The industry needs to develop more innovative equipment to fight the competition. The global PLM Business market is projected to have a growth rate of 15% CAGR over the forecast period 2017-2023. The popularity of Cloud based PLM technology is estimated to boost up all across the globe.



  • Value Chain Analysis


There has been a growing demand for Cloud Based PLM Company everywhere including the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.KFrance, Spain, etc. The whole of Japan; the U.S., Canada, and Mexico seem to have the biggest markets. Europe and Asia-Pacific countries are also coming forward. The modern innovation methods are accelerating the growth of the PLM market.


Segment Overview


By Sales Channel

The Cloud Based PLM Market is projected to increase from USD 18.65 Billion in 2016 to USD 40.55 Billion by 2021, with an astonishing Compound Annual Growth Rate (CAGR) of 16.80% during the forecast period. There is a continually increasing need for integrated PLM solutions, proper management of supply chain, and quick adoption of the Internet of Things (IoT) is helping the cloud PLM market.


By Application:


The research report divides the Cloud Based PLM Market to project the revenues and study the trends in each of the following sub-markets:


By Organization Size



  • Small and Medium Enterprise (SME)

  • Large enterprise


By Vertical



  • Aerospace and Defense

  • Healthcare and Life Sciences

  • Retail and Consumer goods

  • Energy and Utilities

  • Industrial Machinery and Heavy Equipment

  • Telecommunication and IT

  • Automotive and Transportation

  • Semiconductor and Electronics

  • Others


The various Government agencies, partners and industrial bodies, Investors, and Trade experts are the major stakeholders which are related to this industry. The concept is gaining momentum. It is becoming an important part of product development. This is the factor for its increasing popularity. The companies are focusing on increasing product innovations.


Regional Analysis


According to worldwide distribution, the cloud-based PLM market is segregated into different four categories on the basis of revenue share namely North America, Asia Pacific, Europe, and The Rest of the World.


North America is leading in the cloud-based PLM market. The U.S. owns the biggest portion of revenue in the region, because of its advanced and modern technological infrastructure, and the existence of many large numbers of cloud-based solution providers are projected to grow the market over the forecast period. The Asia Pacific region is showing a substantial growth in the cloud-based PLM market after the North American region. China, Taiwan, Japan, and the Republic of Korea are other prominent countries in the cloud-based PLM market as they have government agencies that constantly promote cloud-based PLM for data security.


Competitive Landscape


The major competitors in this market are:



  • 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.)


According to the process of determining and verifying the growth of the PLM market size for several segments and sub-segments are divided into different categories. These are secondary research, extensive primary interviews. Among the primary participants, the objectives are categories are given below:



  • By Company Type: Tier 1 - 18%, Tier 2 - 31%, and Tier 3 - 51%

  • By Designation: C level - 42%, Director level - 33%, Others - 25%

  • By Region: North America - 47%, Europe - 31%, APAC - 14%, ROW- 8%


The PLM is a platform for team collaboration and customer-relationship management. These are major future trends in the cloud-based PLM market. Cloud-based PLM is essential for rapid product development and relaxes the coordination between partners and manufacturers across several geographical locations. SMEs are an important part of the economy, there is a continuous demand for innovative PLM approach, this also driving the market.


Recent Developments


The major audience of the cloud-based PLM report includes the following:



  • Plenty of Cloud vendors

  • Modern and integrated Application design and development service providers

  • Efficient System integrators/migration service providers

  • Global Consultancy firms/advisory firms

  • Effective Training and education service providers

  • Complete Data integration service providers

  • Well Managed service providers

  • International Data quality service providers


Report Overview



  • Market overview highlights the global recognition of the PLM market share

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis for the PLM market

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 137.51 billion 2030
  CAGR   17.10% (2020-2030)
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Component, by Technology, by Organization size, by Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.)
  Key Market Opportunities

  • According to the Cloud Based PLM Market Analysis, during the forecasted period the Portfolio Management application will have the maximum share. \r\n
  • The application helps the management and the decision-makers to assure that they are working towards the right innovation techniques with the right resources and strategies throughout the product life cycle.
  •   Key Market Drivers

  • The major factor pushing the growth of the market is the rising adoption of the Internet of things (IoT). \r\n
  • The COVID-19 pandemic has made a positive impact on the cloud-based PLM market


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    Frequently Asked Questions (FAQ) :

    North America followed by the Asia Pacific

    Those who study this market growth claims to have a CAGR would be 17.10% during the forecast period.