TECH SUPPLIER Sep 2021 - Market Analysis Perspective - Doc # US47218321

Market Analysis Perspective: Worldwide Product Life-Cycle Management, 2021

By: John SnowResearch Director, Product Innovation Strategies, Jeffrey HojloResearch Vice President, Future of Industry Ecosystems & Product Innovation Strategies

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Abstract

This IDC Market Analysis Perspective (MAP) provides the current trends, opportunities, and future outlook for the worldwide product life-cycle management (PLM) software market for 2021 and the foreseeable future. This includes analysis of the cPDM (collaborative product data management), CAD, CAM, and CAE markets, as well as key recommendations for success, whether you are a software or services vendor or an end user of PLM, engineering, and R&D software and related technologies.

"Over the past 18 months, product innovation and development processes have gone (almost) completely digital, while at the same time supply chains, customer preferences, and social expectations have become more volatile and less predictable. Against this backdrop, the pressures to improve time to market, cost control, and quality remain. To meet these challenges, manufacturers are increasingly investing in digital transformation to streamline internal and external collaboration and improve early detection and decision making for emerging problems. Cloud and edge technologies are enabling the collection and distribution of more data from more sources to feed this expanding ecosystem of partners, suppliers, and consumers. The ability to quickly address future disruptions and market requirements is a key focus for manufacturers moving forward in support of design, engineering, and R&D," said John Snow, research director of Product Innovation Strategies at IDC Manufacturing Insights.


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