Global PLM in the Automotive Sector 2016-2020
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
Technavio market research analysts have estimated the APAC region to exhibit the highest market growth rate during the forecast period. This region currently accounts for a mere 24% of the market but is predicted to experience rapid growth during the forecast period. The rapid growth of the automotive industry in China is a critical factor that is estimated to bolster market growth in this region between the period of 2016 and 2019.
Competitive landscape and key vendors
The PLM market in the automotive industry is highly fragmented because of the presence of numerous small, large, and regional vendors. These companies follow several strategies, such as the acquisition of smaller companies, to expand their business during the forecast period.
The leading vendors in the market are -
- Dassault Systèmes
- Siemens PLM Software
Other prominent vendors in the market include Ansys, Bentley, 3D Systems, Cadence, Cadonix, CD-Adapco,Graebert, Hexagon, IMSI/Design, IronCAD, Mentor Graphics, MSC , Numeca International, Oracle, SAP, Synopsy, and Zuken.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the PLM market in the automotive industry?
- What are the key market trends impacting the growth of the PLM market in the automotive industry?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the PLM market in the automotive industry?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the PLM market in the automotive industry?
Technavio also offers customization on reports based on specific client requirement.
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