Global Product Lifecycle Management Market to reach USD 80.35 billion by 2027.Global Product Lifecycle Management Market is valued approximately USD 54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.8% over the forecast period 2021-2027. Product lifecycle management refers to an idea for managing all data relating to the design, production, support and ultimate disposal of manufactured goods. This handling involves both the manufacturing of the good and the marketing of it. The growing demand for Product Lifecycle Management solutions in small, medium and large enterprises across various industries, digital adoption in several industries and technological advancements are the major factors nurturing the market growth. New technological trends such as additive manufacturing and engineering Augmented Reality (AR), and Virtual Reality (VR) will further propel the market. The demand from end use industries such as automotive, retail and manufacturing are growing, According to ILO, global EV sales exceeded 5.1 million units in, increasing by 2 million units from 2017, while in Europe and the United States, sales increased by 385,000 and 361,000 EVs, respectively in 2017-18. At the same time in 2018, China retailed nearly 1.1 million EVs and had 2.3 million active electronic vehicles, making it the largest EV market in the world. United Nations Conference on Trade and Development states that the global e-commerce sales jumped to $26.7 trillion in 2019, up 4% from $25.6 trillion in 2018. Associated deployment costs and integration challenges in the software may act as a restraint for its growth. However, increasing digital penetration in developing countries acts as an opportunity for Product Lifecycle Management Market in subsequent decade.

Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Product Lifecycle Management Market. Due to faster technological adoption as well as higher per capita income, North America has emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit the highest growth rate for the forecast period 2021-2027 owing to the growing demand for digital solutions. Rising disposable income will also boost growth in this region.

Major market player included in this report are:
SAP SE
IBM Corporation
Dassault Systemes.
Atos SE.
Autodesk, Inc
PTC, Inc
Siemens AG
Accenture PLC
Hewlett-Packard Company
Oracle Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Application/Software
Services

By Deployment:
On-Premise
On-cloud

By End User:
Automotive And Transportation
Industrial Machinery
Electronics And Semiconductors
Retail
Energy And Utilities
Aerospace And D?(C)fense
Pharmaceuticals
IT And Telecomm
Others

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Product Lifecycle Management Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors