Global Automotive Product Lifecycle Management Software Market Report 2023: Adoption of Digitalization to Improve Production Drives Growth

Dublin, June 22, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Product Lifecycle Management Software Market 2023-2028 by Deployment Mode, Company Size, Industry Vertical, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Automotive Product Lifecycle Management Software Market is estimated to be USD 28.41 Bn in 2023 and is expected to reach USD 38.81 Bn by 2028, growing at a CAGR of 6.44%.

Automotive Product Lifecycle Management (PLM) software is a set of tools and solutions that enable automotive manufacturers and suppliers to manage the entire lifecycle of their products, from conception to end-of-life. This includes the design and development of new products, testing and validation, manufacturing planning and control, supply chain management, and after-sales services.

The global automotive product lifecycle management software market is driven by several factors, including the increasing complexity of automotive products, the growing demand for customized and connected vehicles, and the need for improved collaboration and efficiency across the automotive supply chain.

With the help of PLM software, automotive companies can streamline their product development processes, reduce costs, improve quality and reliability, and bring new products to market faster. The global automotive PLM software market includes a range of solutions and services, including computer-aided design (CAD) software, product data management (PDM) software, computer-aided manufacturing (CAM) software, simulation and analysis tools, supply chain management (SCM) software, and after-sales service management software.

These solutions are used by automotive manufacturers and suppliers of all sizes, ranging from small component manufacturers to large multinational corporations.

The global automotive PLM software market is driven by several factors, including the increasing complexity of automotive products, the growing demand for customized and connected vehicles, and the need for improved collaboration and efficiency across the automotive supply chain. The market is also driven by the adoption of advanced technologies like artificial intelligence, machine learning, and digital twins, which can further enhance the capabilities of PLM software.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Automotive Product Lifecycle Management Software Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Automotive Product Lifecycle Management Software Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Product Lifecycle Management Software Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Key Attributes:

Companies Mentioned

• Accenture plc
• Agile PLM Inc.
• Altair Engineering, Inc.
• ANSYS Inc.
• Aras Corp.
• Arena Solutions, Inc.
• Autodesk, Inc.
• Gerber Technology LLC
• IBM Corp.
• Infor, Inc.
• Oracle Corp.
• Parametric Technology Corp. (PTC)
• PTC Inc.
• SAP SE
• Siemens Ag
• Tech Mahindra Ltd.
• T-Systems International GmbH

Market Dynamics

Drivers

• Growing Demand for Efficient Product Development Processes
• Adoption of Digitalization to Improve Production
• Need to Cut Costs and Improve Productivity in the Automotive Industry

Restraints

• High Cost of PLM Software
• Lack of Awareness about PLM Solutions in Emerging Economies
• Integration Challenges with Existing Systems

Opportunities

• Rising Demand for Specialized PLM Solutions for Different Automotive Segments
• Introduction of Cloud Technology to Consolidate the Information

Challenges

• Rapidly Evolving Market Leading to Increased Competition
• Lack of Interoperability among Dissimilar Product Versions
• Need for Continuous Innovation to Keep up with Changing Customer Demands

Market Segmentation

The Global Automotive Product Lifecycle Management Software Market is segmented based on Deployment Mode, Company Size, Industry Vertical, and Geography.

• By Deployment Mode, this segment looks at the different ways in which product lifecycle management software is deployed, such as on-premises or cloud-based. For example, automotive companies may choose to use cloud-based software to improve collaboration across teams and reduce IT costs.
• By Company Size, this segment considers the size of the companies that use product lifecycle management software, such as small and medium-sized enterprises (SMEs) or large enterprises. For example, SMEs may use product lifecycle management software to improve their product development processes and compete with larger companies.
• By Industry Vertical, this segment looks at the different industry verticals that use product lifecycle management software, such as automotive, aerospace and defense, and healthcare. For example, automotive companies may use product lifecycle management software to manage their supply chain and reduce costs.
• By Geography, the market is classified into the Americas, EMEA, and APAC. Americas is expected to hold the largest market share due to the presence of major automotive manufacturers and suppliers in the region, such as General Motors, Ford, and Delphi Technologies. The region is also expected to witness significant growth due to the increasing demand for electric vehicles and connected cars.

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