CIMdata Reports Continuing Strong PLM Market Growth
According to figures released from consulting and research firm CIMdata, Inc., the worldwide Product Lifecycle Management (PLM) market continued to grow during 2002 despite depressed global economies. CIMdata defines the PLM market into two segments - authoring and analysis tools (such as CAD/CAM, EDA, etc.) and collaborative Product Definition Management (cPDm).According to CIMdata, PLM growth was concentrated in the cPDm segment, which reached $4.2 billion in 2002 for an apparent increase of 16% over 2001. When 2001 service revenues previously under- reported by vendors are taken into account, the 2002 cPDm growth rate is pegged at a more modest 8% -- still a respectable increase considering the world's sluggish economy. In fact, cPDm growth currently is being driven by PLM-related services, which increased 16% during 2002 while software revenues declined approximately 7%.
CIMdata forecasts overall PLM investments will continue growing at a solid pace over the next five years to exceed $20 billion by 2007 (as shown in Figure 1). The firm predicts the cPDm portion of the PLM market will exceed $4.7 billion in 2003 and $9.3 billion by 2007 for a compound annual growth rate (CAGR) of 17% (as shown in Figure 2). The tools portion of the PLM market is estimated to grow at a CAGR of 3% over the next 5 years to reach $11.8 billion by 2007.
"Senior-level executives now recognize that PLM is critical to business success," explains Miller. "By managing and leveraging product information across the extended enterprise, PLM enhances business performance by supporting innovation-oriented initiatives such as supply chain management, integrated product development, design collaboration, intellectual supply chain management, product requirements/ portfolio management, and global resource utilization: initiatives that can make or break a company. Because it enables businesses to bring innovative and profitable products to market effectively, PLM and the collaborative capabilities it provides are rapidly transitioning from a competitive advantage to competitive necessity. With so much at stake, companies are implementing PLM solutions in record numbers."
According to Miller, there is a growing awareness that product innovation is a critical element of business success built upon solutions that enable widely distributed teams throughout an extended enterprise to work more collaboratively in developing products, plants, and facilities. "This executive level awareness is fueling investments in collaborative initiatives that are at the heart of cPDm, a primary enabler for PLM."
Miller says that despite tough economic times, these business drivers are fueling a broad expansion of the cPDm core market as PLM programs become mainstream and are implemented across the enterprise.
Additionally, the continually expanding and overlapping scope of related technologies offers companies a broader range of capabilities to address their requirements. Deployment of comprehensive PLM solutions also involves integration with multiple internal and external business systems, further fueling expenditures for PLM products and services over the next several years.
For the full article, see CIMdata Reports Continuing Strong PLM Market Growth.
Top Stories
- Dassault Systemes Outperforms PLM Market with Solid First Quarter [24 Apr 2003]
- MatrixOne, Inc. Reports Third Quarter Operating Results [23 Apr 2003]
- Moldflow Reports Third Fiscal Quarter 2003 Results [24 Apr 2003]
- MSC.Software Reports 28% Growth in Revenues [23 Apr 2003]
- Stratasys Reports Record Q1 Revenue & Earnings [22 Apr 2003]
- 3D Systems to Request NASDAQ Hearing [22 Apr 2003]
- Alibre Offers Extended Free Trials Of Its Design and Collaboration Software To SARS-affected Regions [22 Apr 2003]
- Arena Solutions Introduces Advanced File Management [PDF Format] [24 Apr 2003]
- Delcam wins Innovation Award for ArtCAM software [22 Apr 2003]
- FormatWorks/CATIA V4 for seamless translation of native CATIA data to SolidWorks with a 25% discount [24 Apr 2003]
- Gibbs and Associates Delivers 50th Post Processor for Multi-Task Machining [18 Apr 2003]
- HP Offers Comprehensive Portfolio of Products, Services and Solutions to Support Windows Server 2003; Collaborative Approach Improves Customer Performance, Reliability and Efficiency [24 Apr 2003]
- OSE USA, Inc. Announces Shutdown of US Manufacturing Facility [21 Apr 2003]
- Autodesk Inc. To Present at Deutsche Bank Software and Services Conference [23 Apr 2003]
- Manufacturing Leaders to Be Honored at SME Annual Meeting May 30 [22 Apr 2003]
- MatrixOne and Sun Microsystems Offer Seminar Focusing on the Power of PLM in the Aerospace and Defense Industry [22 Apr 2003]
- STEP Tools, Inc. Speaks on .Reducing CNC Programming Costs using STEP-NC. at 2003 NTMA Technical Conference in Las Vegas, NV on June 2, 2003 [22 Apr 2003]
- The CAD Society Announces 2003 CAD Society Industry Award for Leadership [23 Apr 2003]
- Brakes India Reduces Lead Time and Improves Tool Design Quality for Leading Auto Makers [23 Apr 2003]
- MSC's Quiet Steel(TM) Featured on DaimlerChrysler Minivans [22 Apr 2003]
- United Defense Selects PTC for Product Lifecycle Management [23 Apr 2003]
Recommended Reading
|
|
|
[ more Recommended Reading]
Events
PLM World '03, 28 April - 2 May, Anaheim, CA. PLM World is an independent, non-profit organization for CAD/CAM, CAE PLM industry professionals who use EDS-PLM Solutions software. Its mission is to be the Voice of the User in providing an open forum for the exchange of ideas within the EDS product environment. Citizenship is open to users of EDS Unigraphics, Metaphase, I-DEAS and iMAN software. Through networking, these users share best practices and technical techniques for implementing and using the software more effectively.
SAE Noise & Vibration Conference and Exhibition, 5-8 May 2003. Grand Traverse Resort,Traverse City, MI.
Rapid Prototyping and Manufacturing: Advanced Product Development Solutions Conference and Exposition, 12 - 15 May, 2003, Hyatt Regency, Chicago. Sponsored by the Society of Manufacturing Engineers (SME) at the Hyatt Regency in Chicago. For more information: phone: 800.733.4763; website: www.sme.org/rapid
HP Automotive CAE Symposium, 13 May 2003. Plymouth, MI
COFES2003: 4th Annual Congress on the Future of Engineering Software, 15-18 May 2003, Scottdale, AZ. The 4th Annual COFES event is set to bring you the latest and best information, understanding and clarity about the role engineering technology will play in your company's future survival and success.
NAFEMS World Congress 2003, 27-29 May 2003. Orlando, FL
ABAQUS Users' Conference 2003, 4-6 June 2003. Munich, Germany. Preliminary Announcement/Call for Papers
Daratech iDPS, 9-10 June 2003. Detroit, MI. Now in its third year, daratechiDPS AUTO2003 will focus on how today's digital prototyping and physical testing processes and tools are meeting auto makers' urgent requirements to shorten product development cycles, manage increasing model complexity and variety, and lower development costs. (Register by April 30th, and save $100!)
2003 International Forum on DFMA June 17-18, 2003. Newport, RI. Sponsored by Boothroyd Dewhurst, Inc. The International Forum on DFMA is the foremost conference worldwide on early design analysis methodologies and implementation. Conference papers will discuss specific product development programs and examine cost reductions and efficiency gains at some of the world.s leading manufacturing companies, such as Raytheon, Hewlett-Packard Company, Harley-Davidson Motor Company, and Visteon Corporation, among others.
CIMdata PLM Conference June 23-25, 2003. Detroit, MI. "Unleashing the Value of Your Intellectual Assets." At PLMconference2003, attendees will be provided with a total view of the PLM picture including an industry vision, available opportunities, strategies for solution selection and implementation, roadmaps to move forward, pitfalls to avoid, and direction to help maximize the value and benefits of their investment.
The Emerging Technologies Conference 2003 September 24-25, 2003. Kresge Auditorium, MIT Campus, Cambridge, MA. The Emerging Technologies Conference at MIT will focus on the technologies that are poised to make a dramatic impact on our world. Technology Review Magazine, the authority on emerging technology, will bring together world-renowned innovators and key leaders in technology and business. The 2-day conference will feature a mixture of keynote, panel and breakout discussions that will center on the transformative technological innovations that have the potential to fuel new economic growth.
[ more Events]