Product Complexity, Digital Twin Drive Growth in Product Lifecycle Management Market

New ARC Advisory Group research on the Product Lifecycle Management (PLM) market reveals that manufacturers are focusing on disruptive technologies like additive manufacturing, intelligent automation, advanced robotics, and machine learning as enablers of the smart factory and Industrial IoT.  PLM suppliers need to find better ways to monetize innovation and capitalize on technology disruption.  

“The PLM market is largely driven by the increasing complexity of products and product portfolios and the demand for continuous improvement of new product development and management processes in the discrete industries,” says Dick Slansky, Senior Analyst at ARC Advisory Group and key author of ARC’s Product Lifecycle Management Global Market Research report.

“The digital twin concept has captured mainstream attention.  PLM products will be crucial in the creation and utilization of digital twins by providing modeling and simulation capabilities.  Continuous advances in additive manufacturing machines are leading to more adoption of the technology across multiple industries,” added Slansky.

About the Product Lifecycle Management Research

Product Lifecycle Management Market TrendsThis ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the product lifecycle management market.  This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques.  The research includes competitive analysis, plus five-year market forecasts by industry, revenue category, application, sales channels, and customers. 

This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations.  These include a:

  • Market Intelligence Workbook (Excel) - personalized spreadsheet includes three years of historical data as well as the current base year market data and five-year market forecast.  This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
  • Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues.  The PDF is available with or without detailed charts.

For more information on this and other available ARC market research, please visit our Market Data & Studies section.

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