ICT & Electronics Global Product Lifecycle Management Market | Página 2

“Global Product Lifecycle Management (PLM) Market
Analysis & Opportunity Outlook 2021”
The global product lifecycle management market is segmented into
component type such as software and services. Among these segments,
PLM service segment accounted for around 57% share of overall product
lifecycle management market in 2015. The rise of the product life cycle
management service segment is backed by growing need to increase the
value of company’s PLM environment at every level of maturity and
evolution. However, PLM software segment is also expected to witness
satisfactory growth over the forecast period owing to rising adoption of
PLM software such as product data management, computer aided design,
computer aided manufacturing and other software.
Global Product Lifecycle Management Market is expected to register
8.3% CAGR over the forecast period. Moreover, the global product lifecycle
management market is expected to reach at notable revenue of 76.0 Billion
by the end of 2021. The market is expected to expand in future due to rising
demand for innovative, cost effective, and time saving product management
process in various industries such as aerospace and defense, automotive,
consumer goods, energy, governments and others.
The aerospace & defense segment by end user is estimated to lead the
product lifecycle management market during the forecast period. A number
of advantages of implementing product lifecycle management solution in
aerospace and defense industries such as improved quality of supply,
reduced design to manufacture time and improved responsiveness to
Copyright © Research Nester
www.researchnester.com