Global PLM in the Automotive Sector 2016-2020
About PLM in the Automotive Sector
Many manufacturing companies need PLM software as it deals with various functional levels of an organization such as product designing, design engineering, and manufacturing. The need for managing a product from the concept to servitization has led to the emergence of PLM software and services. The growing product complexity and increase in product portfolio across organizations has led to demand for a system that can provide solutions to the production process across industries. The implementation of a PLM in an organization provides higher revenue, reduced costs, and capital efficiency.
Technavio’s analysts forecast the global PLM market to grow at a CAGR of 9.19% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global PLM market in the automotive industry for the period 2016-2020. To calculate the market size and the vendor share, the report considers both the direct revenue and the indirect revenue of the vendors.
The market is divided into the following segments based on products:
Technavio Announces the Publication of its Research Report – Global PLM in the Automotive Sector 2016-2020
Technavio recognizes the following companies as the key players in the Global PLM in the Automotive Sector: Autodesk, Dassault Systèmes, PTC and Siemens PLM Software
Other Prominent Vendors in the market are: Ansys, Bentley, 3D Systems, Cadence, Cadonix, CD-Adapco,Graebert, Hexagon, IMSI/Design, IronCAD, Mentor Graphics, MSC , Numeca International, Oracle, SAP, Synopsy, and Zuken.
Commenting on the report, an analyst from Technavio’s team said: “One of the major trends in the PLM market is the increased focus on mobile applications.”
According to the report, product recall is the process of calling back a product that is not in conformity with standards mostly related to safety. The company undergoes various types of loss in this process. Effective usage of PLM software such as CAD and cPDM helps to reduce the defects associated with the products by making them more refined and impeccable. This has increased the adoption of PLM software in the automotive Industry.
Further, the report states that piracy issues of PLM software are a major challenge for vendors, leading to a decrease in their revenue.
Autodesk, Dassault Systèmes, PTC, Siemens PLM Software, Ansys, Bentley, 3D Systems, Cadence, Cadonix, CD-Adapco,Graebert, Hexagon, IMSI/Design, IronCAD, Mentor Graphics, MSC , Numeca International, Oracle, SAP, Synopsy, Zuken.