Product Life-Cycle Management (PLM) IT Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The product life-cycle management (PLM) IT market size has grown strongly in recent years. It will grow from $24.6 billion in 2024 to $26.56 billion in 2025 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to increased pace in product operations, data generation and management, regulatory compliance and safety, focus on smart products, need for comprehensive platforms.

The product life-cycle management (PLM) IT market size is expected to see strong growth in the next few years. It will grow to $34.09 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to the increasing demand for autonomous cars, the increased adoption of industrial IoT (IIoT), the increasing demand for cloud-based solutions, the demand for mechanical computer-aided design (MCAD) and electronic computer-aided design (ECAD), rising demand for product-user integration. Major trends in the forecast period include technological advancements, integration of IoT with PLM solutions, growing technologically sophisticated solutions, digital transformation initiatives, the growing incorporation of IoT in the manufacturing of smart autos.

The growing adoption of digital transformation is expected to drive the expansion of the product lifecycle management (PLM) IT market. Digital transformation involves the comprehensive integration of digital technologies, strategies, and processes across all areas of an organization. This trend is gaining momentum due to advancements in technology and a greater understanding of its advantages across various industries. Digital transformation supports PLM IT by streamlining the integration of design, production, and maintenance processes, fostering efficient and collaborative product development throughout every stage. For example, in October 2023, Whatfix, an Indian SaaS-based digital adoption platform, reported that global IT spending is projected to reach $5 trillion in 2024, reflecting an 8.6% increase from 2023. This rise underscores the growing emphasis businesses are placing on digital technologies to enhance operations and meet changing market demands. Therefore, the increasing use of digital transformation is fueling the growth of the PLM IT market.

Leading companies in the product lifecycle management (PLM) IT market are concentrating on developing innovative solutions, such as Fusion 360, which integrates computer-aided design (CAD), computer-aided manufacturing (CAM), and computer-aided engineering (CAE) capabilities. In December 2023, Autodesk, Inc., a US-based software corporation, introduced Fusion 360, a cloud-based platform seamlessly combining CAD, CAM, and CAE functionalities. This integration empowers users to design, simulate, and manufacture products within a unified platform, streamlining the product development process.

In June 2022, ITC Infotech, an India-based technology services and solutions provider, acquired PTC's PLM consulting and professional services business for an undisclosed amount. The acquisition led to the establishment of a new business unit named DxP Services, aiming to collaborate on developing joint offerings that expedite customer digital transformation initiatives. PTC, a US-based company, offers a range of consulting and professional services, including PLM.

Major companies operating in the product life-cycle management (PLM) IT market are Hewlett-Packard Company, Accenture plc, Oracle Corporation, SAP SE, Tata Consultancy Services Limited, Atos SE, Dassault Systèmes SE, Synopsys Inc., Autodesk Inc., ANSYS Inc., Siemens Product Lifecycle Management Software Inc., IFS AB, PTC Inc., Arena Solutions Inc., Centric Software Inc., Anaplan Inc., Bamboo Rose LLC, Kalypso LP, Plex Systems Inc., Onshape Inc., PropelPLM Inc., Plex Systems Inc., Onshape Inc., PropelPLM Inc., Aras Corporation, Inflectra Corporation, BigLever Software Inc., Infor LLC.

North America was the largest region in the Product life-cycle management (PLM) IT market in 2024. The regions covered in the product life-cycle management (plm) it market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the product life-cycle management (plm) it market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The product lifecycle management (PLM) IT market includes revenues earned by entities by providing services such as design collaboration, version control, change management, and integrated data management to optimize product development processes. The market value includes the value of related goods sold by the service provider or included within the service offering. The product life-cycle management (PLM) IT market also consists of sales of software and services related to managing and optimizing the entire life cycle of a product, from conception to disposal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Product Lifecycle Management (PLM) IT is the process of integrating information technology tools and solutions to manage a product's complete lifecycle, from its inception through design, manufacturing, distribution, and final retirement or destruction. PLM IT provides a centralized platform for storing and managing product-related data, ensuring that all stakeholders have access to up-to-date and accurate information, thereby reducing the risk of errors and miscommunication.

The main components of Product Lifecycle Management (PLM) IT are software and services. Software refers to a set of instructions and data that enable a computer to perform specific tasks or functions. Various functions include system engineering (SE), product portfolio management (PPM), product design, and manufacturing process management (MPM), and these are applied in various applications such as information technology (IT), telecommunications, and others.

The product life-cycle management (PLM) IT research report is one of a series of new reports that provides product life-cycle management (PLM) IT market statistics, including the product life-cycle management (PLM) IT industry's global market size, regional shares, competitors with a product life-cycle management (PLM) IT market share, detailed product life-cycle management (PLM) IT market segments, market trends, and opportunities, and any further data you may need to thrive in the product life-cycle management (PLM) IT industry. This product life-cycle management (PLM) IT market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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