Cloud-Based Product Lifecycle Management Market: Growth Factors and Future Trends to 2025
28th November, 2018- Cloud-Based Product Lifecycle Management Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. An information management system that can incorporate data, processes, and business systems in an enterprise is known as Product Lifecycle Management (PLM). It is used to manage the data and design process related to the life of a product. The factors that propel the growth of the Cloud-Based Product Lifecycle Management Market include increasing demand, rapid urbanization & industrialization, technological innovations and wide range of applications. In addition, some of the other factors such as growing need for integrated PLM solutions, rising implementation of IoT, increasing cloud implementation and manufacturing industry enriching cloud PLM fuel the market growth.
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Cloud-Based Product Lifecycle Management Market is classified on the basis of product type, applications, distribution channel and geography. The market is segmented by product type as SaaS, PaaS and others. Cloud-Based Product Lifecycle Management Market is classified on applications as Collaborative Design and Engineering, Compliance Management, Customer Management, Portfolio Management, Product Data Management, and others. Cloud-Based Product Lifecycle Management Market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia.
Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa. By geography, North America is projected to account a major share of the Cloud-Based Product Lifecycle Management Market. Some of the key players that fuel the growth of the Cloud-Based Product Lifecycle Management industry include Autodesk, Inc., Arena Solutions, Aras, Accenture PLC, Dassault Systemes, Oracle Corporation, PTC Inc., Infor, SAP SE, Siemens AG, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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