Product Lifecycle Management
Outlook of the global simulation and analysis software market
Technavio’s market research analyst predicts the global simulation and analysis software market to grow steadily at a CAGR of around 12% during the forecast period. The rising need for products with enhanced quality and innovation is a major driver for this market. The adoption of simulation and analysis software has increased across industries as they compete to achieve "first mover advantage" and strive to become the "prime innovator" in their field.
The augmented need to provide quality products within a short duration has compelled several companies to adopt simulation and analysis software. Its ability to improve the time-to-market by reducing the product development cycle and the testing time will result in its augmented adoption during the forecast period. Furthermore, the capability of this software to improve the overall speed of the product design cycle and to provide reliable and cost-effective products by reducing the analysis time and the need to develop multiple prototypes will result in this market’s steady growth until 2020.
Segmentation by product type and analysis of the simulation and analysis software market
In this market research, analysts have estimated that the FEA software segment currently dominates this market and accounts for a market share of around 50%. The augmented demand for simulation and analysis software from various end-user industries like automotive, aerospace, and defense will result in the substantial growth of this market segment during the forecast period.
End-user segmentation of the simulation and analysis software market
- Automotive industry
- Aerospace and defense
Outlook of the global 3D mapping and modeling market
Technavio’s market research analyst predicts the global 3D mapping and modelling market to grow at a profound CAGR of around 9% during the forecast period. The augmented utilization of 3D mapping techniques in the healthcare sector is the primary growth driver for this market. In the healthcare sector, 3D mapping is increasingly being used to map the human anatomy and is also used for modeling during surgeries. Furthermore, its ability to effectively detect cancer cells is a significant factor that will impel market growth until the end of 2020.
In the construction sector, the ability of 3D mapping techniques to map locations and to create building models ahead of the real construction process will lead to its augmented adoption during the predicted period.
Geographical segmentation of the 3D mapping and modeling market
- North America
In this market study, analysts have estimated the North American region to be the largest market for 3D mapping and modeling during the forecast period. This region currently accounts for about 40% of the total market share and is envisaged to grow at an impressive CAGR of around 45% until 2020. In the Americas, the US is the major revenue contributor as many healthcare facilities in this region use 3D mapping techniques to detect diseases in patients.
Competitive landscape and key vendors
The global 3D mapping and modelling market is dominated by three major vendors. These companies have a strong geographical presence in the overall “maps” market.
Leading vendors in this market are -
Market outlook of the PLM market in the automotive industry
Technavio’s market research analyst predicts that the global market for product lifecycle management (PLM) in the automotive industry will grow steadily at a CAGR of approximately 9% during the forecast period. Increasing product recalls in the automotive industry is the primary growth driver for this market. Product recall is the process of calling back a product, which is not in conformity with the standards that are mostly related to safety.
The growing need for safety features in automobiles is expected to drive the global market for PLM in the automotive industry during the forecast period. The recent increase in the number of deaths by road accidents has forced governments across the globe to introduce stringent safety policies. Such policies force manufacturers to incorporate better safety features in their automobiles, which in turn will reduce the number of deaths caused by accidents.
Product-based segmentation of the PLM market in the automotive industry
In this market research report, analysts have estimated the collaborative product definition management (cPDM) software solutions segment to dominate over all the other segments during the forecast period. This sector currently accounts for more than 39% of the overall market share and is envisaged to further enhance its market share by the end of 2020 owing to its ability to streamline the manufacturing and production processes.
Geographical segmentation of the PLM market in the automotive industry
Market outlook of PLM in the electrical and electronics industry
Technavio’s research analyst predicts the global product lifecycle management (PLM) market in the electrical and electronics industry to grow steadily at a CAGR of nearly 9% during the forecast period. Consumers nowadays prefer to access internet facilities on the go, without time and location constraint. Since these facilities are well supported by tablet OS and smartphones, with an enhanced HD viewing experience on a small screen and web surfing capability, the production of smartphones and tablets is on the rise. Thus, the increasing production of tablets and smartphones is leading to the growth of the PLM market in the electrical and electronics industry. For instance, during 2014, the unit shipment of smartphones was 1.22 billion and of tablets was 245.2 million units.
Increased ROI with the implementation of PLM software is also expected to boost the market growth during the forecast period. PLM software solutions including cPDM, provide virtual product design, analysis, and digital manufacturing capabilities that bring maximum economic benefits. Every product undergoes a design phase before manufacture, thereby increasing the product's time-to-market.
Product segmentation of the PLM market in the electrical and electronics industry
cPDM occupied a major share of the global PLM market in the electrical and electronics industry in 2015 with over 42%. The electrical and electronics industry is highly dynamic and requires an efficient design process with good integration among all departments in an
Market outlook of PLM in the aerospace and defense sector
Technavio’s research analyst predicts the global product lifecycle management (PLM) market in the aerospace and defense sector to grow steadily at a CAGR of almost 9% during the forecast period. The increasing demand for commercial aircraft is the primary growth driver for this market. In the next 20 years, the demand for new commercial aircraft is expected to emerge from the Middle East and European regions. This increased demand has boosted the manufacturing and design of new aircraft models by companies such as Airbus and Boeing, which is expected to drive the PLM market in the aerospace and defense industry.
The requirement for aircrafts with increased technical capabilities is also expected to boost the market growth during the forecast period. This involves the design of fuel-efficient engines and reduction in the weight of the aircraft without compromising flight stability and other features.
Product segmentation of the PLM market in the aerospace and defense sector
cPDM occupied a major share of the global PLM market in the aerospace and defense sector in 2015 with over 50%. The need for high ROI due to the increasing role of cPDM in the aerospace and defense industry is leading to the growth of this segment. Increasing demand for cPDM in the aerospace and defense industry is also expected to emerge from the APAC region driven by South Korea, China, India, and Japan with the highest demand rising from China and India.
Geographical segmentation of the PLM market in the aerospace and defense sector
Outlook of the global CAD market for VARs
Computer-aided design (CAD) is a software tool package that helps to model and design products with ease and accuracy. Factors like increased M&A activities and the formation of partnerships between resellers and original CAD providers and resellers will propel the prospects for growth in this market until the end of the forecast period. Due to the recent increase in the number of M&As and partnerships, the number of value added resellers (VARs) in the market will also increase. This increase in the number of VARs will augment the level of competition, which in turn will lead to the advent of low-cost consultation, training, and certification services along with the software package. In this market study, analysts have estimated the global CAD market for VARs to grow at a steady CAGR of nearly 9% by 2020.
Technavio’s market research analyst has estimated eminent factors, such as the offering of cloud-based CAD by VARs, to impel market growth during the predicted period. Recently, it has been observed that many enterprises prefer to use cloud-based CAD software as it is cost effective. Benefits like low cost, faster distribution, low maintenance, and an increase in scalability will spur the deployment of CAD in the cloud. In addition, the ability of cloud-based 3D CAD solutions to allow designers to design and share information through a web browser, tablet, or a phone will lead to its augmented adoption during the predicted period.
Global CAD market for VARs by product segmentation
- 2D CAD
- 3D CAD
The high demand for 3D CAD across industries such as automotive, aerospace and defense, and industrial machinery industry contributed to the growth of global 3D CAD market for VARs. Honda Motors, one of the largest Japanese automobile manufacturers, needed to speed up its vehicle
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.