New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "PLM in Discrete Manufacturing Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06368704/?utm_source=GNW
The global PLM in discrete manufacturing market is expected to grow from $19.51 billion in 2021 to $21.07 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The PLM in discrete manufacturing market is expected to grow to $28.61 billion in 2026 at a CAGR of 8.0%.
The PLM in discrete manufacturing market consists of sales of PLM in discrete manufacturing by entities (organizations, sole traders, and partnerships) that are used by a variety of industries to manage a product’s entire lifecycle, beginning with the engineering, design, manufacture, and disposal of manufactured goods.Discrete manufacturing is a type of manufacturing technique that produces products differentiated by individual units and places parts together according to a predetermined process to create a unique item, such as smartphones.
Product lifecycle management (PLM) enhances the quality and dependability of products.Additionally, PLM gives manufacturers an accurate bill of materials (BOM), which enables them to find errors more quickly and shorten delivery times.
Further, the majority of manufacturing involves a multi-step assembly process, and PLM helps businesses monitor production processes and give operators decision support, which accelerates the market’s growth.
The main components of PLM in discrete manufacturing are software and services.Software refers to the entire set of programmes and routines associated with the operation of a computer system.
On-premise and cloud deployment models are available.The various sizes of enterprises include large enterprises and small and medium-sized enterprises. These are used in automotive and transportation, industrial machinery and heavy equipment, high-tech and consumer electronics, aerospace and defense, and other industry verticals.
North America was the largest region in the PLM in discrete manufacturing market in 2021. The regions covered in this PLM in discrete manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The surge in the adoption of smart factories and smart manufacturing is expected to propel the growth of PLM in the discrete manufacturing market going forward.A smart factory refers to a digitised manufacturing facility, whereas smart manufacturing is a technology-driven approach that utilises internet-connected machinery to monitor the production process.
PLM Discrete helps smart factories and smart manufacturing by taking decisions that are made using this information to enhance procedures and deal with any potential problems.For instance, in March 2022, according to Plex Systems, a US-based software company operating in the PLM in the discrete manufacturing market, in its 7th annual state of smart manufacturing report, smart manufacturing adoption rates increased 50% over twelve months, and 2 out of every 3 manufacturers are using some form of smart manufacturing component.
Therefore, the surge in the adoption of smart factories and smart manufacturing is driving the growth of PLM in the discrete manufacturing market.
Strategic collaboration is a key trend that is gaining traction in the discrete manufacturing PLM market.Major companies operating in the PLM discrete manufacturing market are looking for partnerships to strengthen their position in the PLM discrete manufacturing market.
For instance, in January 2020, Aras Corp, a US-based software company operating in the PLM discrete manufacturing market, partnered with Ansys Inc, a US-based software company. This partnership includes the licencing of Ara’s platform technology to enable the next generation of digital engineering practises such as PDM/PLM interoperabilit and configuration management to deliver highly scalable and configurable products.Furthermorer, in April 2021, Siemens AG, a Germany-based automation company operating in the PLM in discrete manufacturingmarket,t partnered with SAP SE, a Germany-based software company. The expansion of their partnership enables both companies to deliver new solutions for theservicee and asset lifecycle. With an initial focus on discrete manufacturing, Siemens is expected to begin to offer the SAP asset intelligence network, the SAP asset strategy and performance management application, and the SAP enterprise portfolio and project management package.
In January 2021, PTC Inc, a US-based product lifecycle management (PLM) software and services provider, acquired Arena Solutions for an undisclosed amount.The deal is expected to make PTC the market leader by combining Arena Solutions and Onshapre and significantly expand its presence in the lucrative mid-market, where SaaS solutions are increasingly becoming the norm.
Arena Solutions is a US-based provider of software solutions for PLM, supply chain management, and enterprise integration. It also offers products for quality control, demand forecasting, and business intelligence.
The countries covered in the PLM in discrete manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The PLM in discrete manufacturing Market Research Report is one of a series of new reports that provides PLM in Discrete Manufacturing market statistics, including PLM in Discrete Manufacturing industry global market size, regional shares, competitors with a PLM in Discrete Manufacturing market share, detailed PLM in Discrete Manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the PLM in Discrete Manufacturing industry. This PLM in discrete manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06368704/?utm_source=GNW
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