Automotive sector

Automotive PLM Software Market to Grow by $937.74 Million | Huge opportunities in the collaborative product data management segment

NEW YORK, May 6, 2022 /PRNewswire/ — The global automotive PLM software market should see a gradual growth of $937.44 million between 2019 and 2024, expanding at a CAGR of 3% over the forecast period. To help companies expand their reach by targeting niches, Technavio analyzes the market by product (collaborative product data management, computer-aided design, simulation and analysis, and digital manufacturing) and geography (North America, EuropeACPA, South Americaand MEA).

Technavio has announced its latest market research report titled Automotive PLM Software Market by Product and Geography – Forecast and Analysis 2020-2024

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One of the major growth drivers for this market is the rise of IoT integration. The growing adoption of cloud solutions and IoT is having a significant impact on the global PLM market. Businesses across various industries are leveraging IoT technologies to enhance current product lifecycle applications and technologies to meet future growing technology demands. Additionally, the implementation of IoT provides functionality such as predictive maintenance, repair and overhaul, thereby providing a platform to connect and communicate with products and help optimize future service schedules and reduce overall maintenance costs. Additionally, the implementation of IoT in PLM software provides clear visibility and detailed insights into consumer behavior. All these factors are expected to have a positive impact on the growth of the market over the forecast period.

Automotive PLM Software Market: Segment Highlights

On the basis of product, the PLM software market is segmented as follows:

The collaborative product data management segment will hold the largest market share during the forecast period. Rising demand for productivity and resource management along the manufacturing value chain in various industries is the major driver for the growth of the segment.

Regional analysis

44% of the total market growth will come from the North American region. The region is an early adopter of advanced technologies across all sectors. The region’s industrial sector is technologically mature, owing to the rapid adoption of technologies. Furthermore, the strong existence and penetration of major vendors augments the overall market growth in the region.

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Remarks:

  • The automotive PLM software market is expected to accelerate at a CAGR of 3% during the forecast period.

  • The automotive PLM software market is segmented into product (collaborative product data management, computer-aided design, simulation and analysis, and digital manufacturing) and geography (North America, EuropeACPA, South Americaand MEA).

  • The market is concentrated due to the presence of a few established vendors holding a large market share.

  • The research report offers information on several market vendors including Accenture Plc, Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Dassault Systemes SE, Infor Inc., Oracle Corp., PTC Inc., SAP SE, and Siemens AG.

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Related reports:

Manufacturing Operations Management (MOM) Software Market by End User and Geography – Forecast and Analysis 2022-2026

Product Lifecycle Management (PLM) in Consumer Goods Market by Deployment and Geography – Forecast and Analysis 2022-2026

PLM software market within the scope of the automotive sector

Report cover

Details

Page number

120

base year

2019

Forecast period

2020-2024

Growth momentum and CAGR

Accelerate at a CAGR of 3%

Market Growth 2020-2024

$937.74 million

Market structure

Concentrate

Annual growth (%)

-8.19

Regional analysis

North America, Europe, APAC, South America and MEA

Successful market contribution

North America at 44%

Main consumer countries

United States, China, Germany, Japan and India

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Accenture Plc, Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Dassault Systemes SE, Infor Inc., Oracle Corp., PTC Inc., SAP SE and Siemens AG.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

Summary

Market landscape

  • Market ecosystem

  • Market characteristics

  • Value chain analysis

Market sizing

Five forces analysis

Market segmentation by product

  • Market segments

  • Comparison by product

  • Collaborative Product Data Management – Market size and forecast 2019-2024

  • Computer-aided design – Market size and forecast 2019-2024

  • Simulation and analysis – Market size and forecast 2019-2024

  • Digital manufacturing – Market size and forecast 2019-2024

  • Market opportunity by product

Customer landscape

Geographic landscape

  • Geographic segmentation

  • Geographic comparison

  • North America – Market size and forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • APAC – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Main leading countries

  • Market Opportunity by Geography

  • Volume Driver – Demand Driven Growth

  • Market challenges

  • Market trends

Supplier Landscape

  • Supplier Landscape

  • Landscape disturbance

Vendor analysis

Annex

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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