Visible Profitability Key Driver for Product Lifecycle Management Research conducted by TechNavio reveals that the Global Product Lifecycle Management Software market will reach $20.6 billion in 2014. The report which focuses on the Americas, EMEA, and APAC, indicates that the market is currently driven by the increased profitability experienced by various enterprises employing product lifecycle management.
"PLM software allows the user to create, capture, and share product related requirements, preferences, and expectations of the target segment. Further, it assists in aligning the product cost to the manufacturing costs. Thus, PLM is increasingly being used for reducing the cost of the product and increasing customer satisfaction," report TechNavio analysts.
In spite of the demand for product lifecycle management, the threat from open source software providers hinders the growth of this market. However, the proven reductions in operation cost are expected to encourage market growth.
The Global Product Lifecycle Management market is marked by cloud computing in product data management. This makes the study an important one for companies to fully understand the potential in the market and formulate their own strategy.
The report, Global Product Lifecycle Management Software Market 2010-2014, is based on extensive research and inputs from industry experts, vendors, and end users. It examines the factors impacting the evolution of this market, including the key trends, drivers, and challenges. Further, it contains an in-depth understanding of the key vendors including a SWOT analysis for each vendor.
Companies mentioned in this report include: Dassault Systemes, Siemens PLM, PTC, and SAP AG.
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