Product Lifecycle Management Segmentation
Deployment Type (Cloud-Based, On-Premise)
The cloud-based segment is projected to hold 75 % share during the forecast period as it is cost-effective and easily accessible to everyone. It enables faster implementation and real-time data sharing across global teams. Businesses are adopting cloud solutions to support remote work and digital collaboration without the need for substantial investments in hardware and infrastructure, making them accessible to a broader range of businesses. This segment is especially popular among small and medium enterprises willing to reduce IT infrastructure costs.
End use (Automotive & Transportation, Aerospace & Defense, Industrial Machinery & Heavy Equipment, Semiconductor & Electronics, Energy & Utilities, Retail & Consumer Goods, Healthcare & Life Sciences)
The automotive & transportation segment is expected to show notable growth due to the rising complexity of vehicle designs, driven by the demand for electric vehicles (EVs) and autonomous driving features, which necessitates more sophisticated PLM solutions. A report by the International Energy Agency (IEA) states that the global electric vehicle stock surpassed 10 million units in 2020, with projections indicating a growth to 145 million by 2030. This surge emphasizes the need for robust PLM systems that can manage intricate supply chains and design processes effectively. Additionally, the rise in digital manufacturing and the integration of PLM with other feature-rich software contribute to the segment's growth. By optimizing work processes, enhancing data management, and allowing better decision-making, PLM technology is helping automotive companies to innovate and meet the evolving demands of the industry.
Our in-depth analysis of the product lifecycle management market includes the following segments:
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