The global product lifecycle management market size is expected to be worth around US$ 50.60 billion by 2030, according to a new report by Vision Research Reports.
The global product lifecycle management market size was valued at US$ 28.30 billion in 2020 and is anticipated to grow at a CAGR of 9.2% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 50.60 billion by 2030 |
| Growth Rate | CAGR of 9.2% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Software, Deployment, End use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | ANSYS, Inc.; Aras Corporation; Arena Solutions, Inc.; Oracle Corporation; SAP SE; AUTODESK, INC.; Siemens AG; PTC Inc.; DassaultSystèmes; Synopsys Inc. |
Growth Factors
The growing need to support complex functionalities, the unabated establishment of smart factories and rollout of smart value chains, and the continued integration of the Internet of Things (IoT) with PLM solutions are some of the main drivers that are expected to drive the growth of the market over the forecast period. Advances in the latest technologies, such as cloud computing and IoT, and the continued rollout of high-speed data networks are expected to contribute to the growth of the market. The aggressive investments being made by the market players in product innovation to deliver the next generation of interoperability and integration capabilities also bode well for the growth of the market.
Key Players
Market Segmentation
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