Global PLM Market Industry Analysis Report 2018-2019 with Forecasts 2019-2023

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Dublin, Sept. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The PLM Industry Analysis Report, the fourth of five modules of the 2019 PLM Market Analysis Report Series. The MAR Series provides detailed information and in-depth analysis on the worldwide PLM market during 2018. It contains analyses of major trends and issues; revenues of leading PLM providers; and revenue analyses for geographical regions, industry sectors, and historical and projected data on market growth.All industries saw growth in PLM spending in 2018 as shown in the figure below. forecasts continued growth in all industries during the five-year forecast period.LM spending is greatest in automotive & other transportation, fabrication & assembly, electronics & telecommunications, and aerospace & defense. It is lower in the process industries and utilities. However, there are some good process PLM solutions available, and they are becoming more important with concerns about food safety, particularly in emerging economies.

Growth in PLM for medical devices, part of the high-tech sector, is driven by stringent compliance requirements that can vary by country, something that PLM strategies and enabling solutions can address. All industries are being affected by the trend toward smart, connected products, either directly or because of the effects of the Internet of Things (IoT) and the drive toward Industry 4.0, an initiative that originated in Germany, that has inspired programs and spending in countries around the world. believes there are good opportunities in all segments as corporate management continues to become more cognizant of the value of PLM and its positive impacts on both the top and bottom lines of business.

During 2018, comprehensive providers continued to expand their efforts to deliver more industry-focused and functionally-packaged solutions that are easier and less expensive to acquire and deploy. This is fueled, in part, by continued mergers and acquisitions activity in most PLM segments.The global PLM market grew strongly in 2018 at 9.4%, well above our forecast of 7%, states Stan Przybylinski, Vice President. The leading PLM solution providers are consolidating their portfolios after years of acquisitions, and increasing their revenues in 2018, in part, by expanding their footprint at their existing clients. Industrial companies are using PLM to enable highly collaborative, distributed, flexible design and manufacturing environments to help better manage the entire product or plant lifecycle. This ability is critical to all industries and only becomes more complex as smart, connected products must act as parts of larger systems.

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Globe Newswire: 09:10 GMT Wednesday 11th September 2019

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