Global PLM Market in Consumer Goods Industry 2016-2020
About PLM Software in Consumer Goods Industry
The consumer goods manufacturing companies use PLM software as it helps to deal with the different functional levels of an enterprise such as product designing, design engineering, and manufacturing. The need for managing a consumer goods product from the concept stage to servitization stage has increased the demand for PLM software and services. The growing product complexity and upsurge in product portfolio across enterprises has triggered the demand for a system that can deliver solutions to the production process across industries. The implementation of PLM software in an enterprise provides benefits such as increased revenue, low operational cost, and capital efficiency.
Technavio’s analysts forecast the global PLM market in consumer goods industry to grow at a CAGR of 12.98% 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 consumer goods industry for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of PLM software in the consumer goods industry.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global PLM Market in Consumer Goods Industry 2016-2020
Technavio recognizes the following companies as the key players in the global PLM market in consumer goods industry: Aras, Autodesk, Centric Software, Dassault Systèmes, Oracle, PTC, and Siemens PLM Software.
Other Prominent Vendors in the market are: 3D Systems, AllCAD, ANSYS, Arahne, ARText, Audaces, BONTEX, CadCam Technology, Cadonix, CD-adapco, C-Design, Fashion CAD, Gerber Technology, Graebert, TurboCAD, IronCAD, MSC Software, Numeca, and SAP.
Commenting on the report, an analyst from Technavio’s team said: “High adoption of synchronous technology will gain traction in this market. The adoption of synchronous technology is increasing, especially in apparel industry for product designing, creating and editing 3D prototypes and models. Modeling is a set of rules that help manufacturers during computer modeling of 3D solids.”
According to the report, need for faster time-to-market and product development will drive the market. Product development faces several challenges like poor product design, analysis, and issues with digital manufacturing capabilities. These factors not only increase the time-to-market of the product, but also complicates the functional and manufacturing processes. This, in turn, results in in-house reworks, quality issues among customers, increase in maintenance, repair, product return, and overhaul expenses of the product, adversely affecting the reliability of the vendor.
Further, the report states that the PLM software vendors face slow revenue growth because of PLM's piracy issues. The sharing of a purchased license of a single end-user with other end-users is also considered as software piracy. Most of the pirated software contains hostile software, which exposes the system to problems like data loss, security breaches, increase in expense and time required to disinfect during installation.
Aras, Autodesk, Centric Software, Dassault Systèmes, Oracle, PTC, Siemens PLM Software, 3D Systems, AllCAD, ANSYS, Arahne, ARText, Audaces, BONTEX, CadCam Technology, Cadonix, CD-adapco, C-Design, Fashion CAD, Gerber Technology, Graebert, TurboCAD, IronCAD, MSC Software, Numeca, SAP.