Product Lifecycle Management
Overview of the global computer-aided design (CAD) market
The global computer-aided design (CAD) market is anticipated to grow at a steady rate and will post a CAGR of close to 7% during the forecast period. The increasing number of adoption of cloud-based CAD in APAC will drive the growth prospects for the global CAD Market until the end of 2021. With the growing preferential shift from product lifecycle management (PLM) to cloud-based PLM software due to high costs associated with the adoption of PLM, the popularity of cloud-based PLM software is increasing in the market. For instance, the cloud-based PLM services provided by Wipro can deploy Teamcenter on the cloud through infrastructure as a service (IaaS) that reduces the upfront costs and total cost of ownership (TCO). Furthermore, some of the benefits provided by cloud-based solutions are the reliability, easy accessibility of data from any location, and data backup when data is lost from the company’s storage devices.
The increasing shift from 3D CAD to 4D CAD will drive the growth prospects for the global CAD Market in the forthcoming years. Some of the major factors responsible for the intensely competitive environment between the vendors is the absence of product differentiation, globalization, and the need to incorporate additional features and functionalities in their solutions that improve the customer experience. As a result, these vendors are coming
Overview of the global architectural engineering and construction (AEC) market
The global AEC market is anticipated to grow rapidly and will post a CAGR of close to 12% during the forecast period. The rising demand for cloud-based AEC solutions will drive the growth prospects for the global AEC market until the end of 2021. One of the major factors responsible for the growing demand for cloud-based AEC solutions is its ability to provide centralized access to AEC-based project data irrespective of location. Also, other benefits associated with cloud-based AEC such as accessibility on any operating system such as Windows, Apple, and Android. Furthermore, the availability of new cloud-based AEC solutions will increase during the forecast period because many end-users have begun to realize the associated benefits such as low maintenance cost, flexibility, and scalability of the solution.
The growth of 5D building information modeling (BIM) will drive the growth prospects for the global AEC market for the next few years. 5D BIM is considered as an evolution of 4D and 3D BIM that provides a platform for the integration of time and cost factor. Also, 5D BIM helps in obtaining information such as deviations from the pre-determined project schedule and budget, an in-house database with complete details regarding the cost and labor productivity rates, efficient preparation of cost schedules, etc.
Competitive landscape and key vendors
The global AEC market is characterized by the presence of well-diversified international and regional vendors. It has been observed that international players are focusing on expanding their foothold in the market by increasing their product extensions, technological innovations, and M&A, whereas, local vendors find it difficult to compete with large vendors in terms of quality and features of AEC solutions.
Key vendors in this
Overview of the global GIS market
Technavio’s market research analyst predicts that the global GIS market will grow at a CAGR of more than 10% between 2017 and 2021. Organizations are increasingly adopting enterprise GIS, which enables access to all geospatial data and applications within the organization. To follow a consistent methodology to address the needs of all business units, they adopt an enterprise GIS, which helps in sharing resources, data, and applications, as well as increasing operational efficiency. Such system allows greater interdepartmental communication and resource sharing and better decision-making. Caliper has come up with an enterprise GIS software, Maptitude for using mapping software within an organization. Through its implementation, the geographic data can be managed, shared, and used by multiple users in the organization for presentation and analysis. One of the latest developments in the market is the integration of GIS and big data analytics. The merger has created a new procedure for analyzing high volumes of clustered data. Recently, GIS provider, ESRI has designed a GIS tool for Hadoop, which allows the use of Hadoop context for spatial analysis on spatial data. It is an open-source software for big spatial data analysis and helps in the visualization and analysis of maps.
Geographically, the Americas accounted for the largest share in the global market during 2016. Much of the region’s high growth can be attributed to the growing adoption of GIS in the healthcare sector in North America. The military sector is one of the key end-users, which is developing GIS software since the introduction of GIS in the
Overview of the global CFD market in the automotive industry
Technavio’s market research analyst predicts the global CFD market in the automotive industry to grow at a CAGR of almost 10% by 2021. At present, the automotive manufacturers are undergoing high pressure to minimize the product development cycle. CFD is primarily used in the designing stage of the product development cycle, specifically in the simulation and optimization processes. The designing stage is crucial in the product development lifecycle as it reduces the time and cost of production of automotive products and components. Such advanced characteristics have promptly increased the dependence of several industries on the software to reduce product development cycle time. The effective use of PLM software such as CAD, CFD, and CAM helps minimize product recalls by refining the product design, which will subsequently increase the application of CFD software in the automotive industry.
The automotive industry is witnessing the growing shift towards the adoption of electric vehicles. Several vehicle manufacturers are increasing their investments in the research activities to manufacture fuel-efficient vehicles. They are complying with the set standards and are focusing towards manufacturing cost-effective vehicles. Companies such as General Motors and Ford have increased the
Overview of the global digital manufacturing (DM) market in the electrical and electronics industry
Technavio’s market research analyst predicts the global digital manufacturing (DM) market in the electrical and electronics industry to grow at a CAGR of around 7% during the forecast period. In the electrical and electronics industry, DM is primarily used during the manufacturing planning, simulation, quality check, and NC programming. The adoption of DM in the electrical and electronics sector helps to smoothen the flow of product and plant information during change processes without losing consistency in product designing. It helps in viewing machining and tooling information and 3D information of the product at the same time. Moreover, the simulation properties in DM assists in the validation of robotics and automation programs and accelerates the factory manufacturing process. With the growing requirement for improved traceability in the manufacturing activities, the DM market will witness massive growth in the coming years.
One of the major trends in the DM market is the growing focus on mobile applications such as manufacturing 360 and Tecnomatix 360. PLM manufacturers, such as PTC, have applications such as Windchill mobile; however, they do not have DM-specific applications like Siemens. These types of applications augment the mobility and ease of use of DM software across diverse locations. It is anticipated that most of the major players in the PLM industry will offer DM-specific mobile applications during the forecast period.
Competitive landscape and key vendors
The global market is extremely
Overview of the embedded software market
Market research analysts at Technavio predict that the global embedded software market will grow steadily over the next four years and post a CAGR of more than 9% by 2021. This market research analysis identifies the rise in adoption of embedded software by the semiconductor industry as one of the primary growth factors for this market. The increasing demand for smartphones that consist of several electronic components including capacitors, transistors, amplifiers, and oscillators will demand the need for embedded software to design ICs that interconnect these components.
The rise in adoption of multi-core technology in embedded software will be one of the major trends that will gain traction in this market in the coming years. The adoption of multicore framework technology will facilitate the development of advanced embedded systems that are energy-efficient and perform better and will also enable developers to configure multiple operating systems and applications across various multicore processors.
Competitive landscape and key vendors
Due to the presence of a several embedded software companies, this market appears to be highly competitive. Since there are minimal opportunities for differentiating products, vendors are concentrating on innovating their offerings and increasing product capabilities. To enhance their customer base, vendors are also concentrating on the development of customized solutions, which will also help them increase their revenue shares and improve their position in the competitive market.
The leading vendors
PLM is software that plays an integral role in different functional levels of organizations, such as product design, engineering, and manufacturing. The need to manage a product from concept to realization has led to the emergence of PLM software and services. Greater product complexity and an increase in product portfolios across organizations have led to a need for a system that can provide solutions to the production process across industries. PLM software is essential for an organization to reduce costs, achieve higher capital efficiency, and ultimately, increase their bottom line.
Some of the markets under Technavio’s coverage area include digital manufacturing software and computer-aided manufacturing software.