TECH SUPPLIER Aug 2022 - Market Analysis Perspective - Doc # US48627822
Market Analysis Perspective: Worldwide Product Life-cycle Management, 2022
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 2022 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 two years, 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. 2021 saw an uptick in growth of 3–5% compared with 2020 (during the height of COVID-19) with renewed pressures to improve time to market, cost control, and quality. Manufacturers continue to invest in digital transformation to streamline the product development process, especially collaboration and decision making. Cloud infrastructure and SaaS applications are having a democratizing effect on product development, allowing smaller firms to effectively collaborate (and sometimes compete) with larger manufacturers. 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.