Lifecycle Opportunities in the Global Retail PLM Market
The global retail PLM market is presently at a nascent stage. It is expected to post a Compound Annual Growth Rate (CAGR) of % between 2013 and 2018.
The growing focus of retail companies on enhancing brand equity and improving profitability, coupled with a strong demand from the Asia-Pacific region is likely to drive the growth of the global retail PLM market.
While tier-I retail companies have been early adopters, small and medium enterprises (SMEs) are expected to play a catalytic role in the growth of the retail PLM market.
The high cost of installing retail PLM solutions and adoption of competitive pricing strategies by major market participants are likely to be the major hindrances that could potentially slow down the rate of retail PLM solutions.
North America is the biggest market for retail PLM vendors; however, growth in the Asia-Pacific region, driven by strong demand from countries such as China, Korea, and Japan, is forecast to be the highest during the forecast period.
The retail PLM market is highly fragmented; vendors who have the capability to offer solutions that can provide benefits to entities across the value chain are likely to enhance their market presence during the forecast period.
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