According to a research report "Product Lifecycle Management Market by Software (Collaborative Product Definition Management (cPDm) Software, Mechanical Computer Aided-Design Software (MCAD) and others), Service, Deployment, Organization, Vertical, and Region - Global Forecast to 2024" published by MarketsandMarkets, to grow from USD 50.7 billion in 2019 to USD 73.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period. Major factors expected to drive the growth of the product lifecycle management market include growing focus on developing groundbreaking smart products and factories, increasing need to build product innovation platform would support product lifecycle management-enabled applications, and increasing demand for cloud-based product lifecycle management solutions for scalability and secure IT infrastructure.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=152565174
Based on component, services segment to
record a higher growth rate than the software segment during the forecast
period
By component, the services
segment is expected to grow at a higher rate than the software segment during
the forecast period. The services segment has a significant influence on the
product lifecycle management market growth. The demand for services is
increasing with the growing adoption of product lifecycle management solutions
by enterprises across significant application areas. Services are necessary for
easy deployment, integration, and proper functioning of the software. The
services segment has been further segmented into professional services and
managed services. The professional services segment has also been classified
into deployment and integration, consulting, and support and maintenance.
Among services, support and maintenance
segment to grow at a higher rate than the deployment and integration, and
consulting and advisory services segment during the forecast period
Support and maintenance services are
crucial, as they directly deal with customer satisfaction and issues. Every
software vendor has a dedicated support team to serve the customers. Support,
software maintenance, customer portal, post-deployment assistance, and client
testimonials are some of the services provided under the support and
maintenance segment. To derive consistent customer satisfaction, service providers
regularly focus on enhancing their product knowledge base by receiving
feedbacks through interviews and surveys. These services also provide a single
point of contact who would help solve customer issues quickly. The customer
portal is another helping aid that offers technical tips and software updates
to customer forums.
Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=152565174
North
America to account for the largest market size during the forecast period
North America consists of developed countries, such as the
US and Canada. This region is open to the adoption of new and emerging
technologies. Moreover, its strong financial position enables it to invest
heavily in the adoption of the latest and leading tools and techniques for
ensuring effective business operations. Such advantages help organizations in
this region gain a competitive edge. North America has the first-mover advantage
in the adoption of new technologies, such as smartphones and cloud platforms.
North America has the headquarters of many large enterprises and is host to
various international events. Enterprises are willingly investing in North
America. The factors expected to drive the growth of the product lifecycle
management market in North America are the stable economy, technological
enhancements, and advanced infrastructure.
Key and emerging market players SAP (Germany), Dassault
System (France), PTC (US), Siemens (Germany), Autodesk (US), IBM (US), Oracle
(US), HP (US), Atos (France), Accenturs (Ireland), Arena (US), Ansys (US), Aras
(US), Infor (US), Propel (US), Kalypso (US), FusePLM (US), Bamboo Rose
(US), Inflectra (US), and TCS (India).
These players have adopted various strategies to grow in the Product lifecycle
management market.
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth
niche opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking
global high growth markets following the "Growth Engagement Model –
GEM". The GEM aims at proactive collaboration with the clients to identify
new opportunities, identify most important customers, write "Attack, avoid
and defend" strategies, identify sources of incremental revenues for both
the company and its competitors. MarketsandMarkets™ now coming up with 1,500
MicroQuadrants (Positioning top players across leaders, emerging companies,
innovators, strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive intelligence and market research
platform, "Knowledge Store" connects over 200,000 markets and entire
value chains for deeper understanding of the unmet insights along with market
sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
No comments:
Post a Comment