DUBLIN — (BUSINESS WIRE) — September 22, 2011 — Research and Markets ( http://www.researchandmarkets.com/research/af013c/product_data_manag) has announced the addition of the " Product Data Management Software Market in India 2010-2014" report to their offering.
The Product Data Management Software (PDM) market in India is expected to grow at a CAGR of 16.3 percent over the period 2010-2014. The report, which focuses specifically on India, indicates that the market is being driven by the growing demand coming in from the automotive and industrial machinery segments.
According to Technavio's industry analyst, The Industrial Machinery and Automobile segments have been key drivers for the PDM Software market. Growth in these industries has had a positive impact on the PDM market. Many large automotive companies are opening operating units in the rapidly growing market in India. These Automotive companies are dependent on PDM software to connect various departments across regions. Moreover, PDM software is used to increase productivity and efficiency of the product development cycle, and reduce the supply chain complexity.
The report also highlights that security concerns are hindering the growth of this market. However, the consistent outsourcing of product design and engineering services to India is expected to boost market growth. This market is also marked by the integration of Product Data Management with enterprise applications. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio's analysts forecast the Product Data Management (PDM) Software market in India to grow at a CAGR of 16.3 percent over the period 2010-2014. One of the key factors contributing to this market growth is the outsourcing of product design and engineering services to India. The PDM Software market in India has also been witnessing integrated product data management software with enterprise applications. However, the increasing threat from enterprise application vendors could pose a challenge to the growth of this market.
Key vendors dominating this market include Siemens PLM Software Inc., Dassault Systems, Parametric Technology Corp., and SAP AG.
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