SOURCE RESEARCH
Product Lifecycle Management (PLM) Software
Market Data | 4Q 2024 | MD-PLM-102
Get The ReportThe total Product Lifecycle Management (PLM) market yielded US$6.6 billion in 2023 and will expand to US$25.7 billion by 2034, with the driving force being SME adoption, which will see a CAGR of 19% compared to the market average of 13%.
Large enterprise collaboration with PLM software companies will increase, spurring higher revenues as the Average Selling Price (ASP) increases and new technological features are added, such as immersive viewing and generative AI. Additionally, large enterprises will spend more on PLM systems as key features such as restricted access viewing when working with contract manufacturers relieve a pain point for large manufacturers that can not share sensitive product information. Although large enterprises will still be the dominant spender on PLM software at 69%, SMEs are catching up with a CAGR of 8.1 percentage points higher than that of large enterprises.
Related Research
Industrial Product Lifecycle Management (PLM) Software Market Data Overview: 1Q 2024
Presentation | 1Q 2024 | PT-3135
Environmental Health and Safety (EHS) Software
Market Data | 3Q 2024 | MD-SWEE-23
Quality Management System (QMS) Software
Market Data | 2Q 2024 | MD-QMS-101
Yard Digitalization
Market Data | 3Q 2024 | MD-YMMD-24
Industrial and Manufacturing Semiannual Update: 2H 2022
Presentation | 4Q 2022 | PT-2590
