Global PLM Market in the Electrical and Electronics Industry 2016-2020
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 organization, which is facilitated with the help of cPDM software. cPDM helps in enhancing product innovation, reduce time-to-market, and largely improves product quality in comparison to previous versions through continuous analysis of services and quality issues.
Geographical segmentation of the PLM market in the electrical and electronics industry
The Americas accounted for nearly 37% of the market share during 2015 and is expected to grow at a CAGR of more than 8% during the forecast period. The growth of electronics and electrical industry in this region is mainly attributed to the presence of the US companies. Out of the top 20 semiconductor manufacturers in the world (based on revenue generated in 2013), around 11 are from the US.
Competitive landscape and key vendors
Electrical and electronics industry is a dynamic industry, hence to cater to the needs of such an industry, vendors must be dynamic and highly flexible since the requirements from the end-user side vary to a great extent. Trends such as IoT is driving the demand for new products, which requires various configuration among the PLM tools.
The major vendors dominating the market are -
- Cadence Design Systems
- Dassault Systèmes
- Mentor Graphics
- Siemens PLM Software
Other prominent vendors in the market include Bentley, 3D Systems, GstarCAD, Cadonix, CD-Adapco, Graebert, Hexagon, IMSI/Design, IronCAD, MSC, Numeca International, Oracle, SAP, 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 global PLM market in the electrical and electronics industry?
- What are the key market trends impacting the growth of the global PLM market in the electrical and electronics industry?
- What are the challenges to market growth?
- Who are the key vendors in the global PLM market in the electrical and electronics industry?
- What are the market opportunities and threats faced by the vendors in the global PLM market in the electrical and electronics 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 global PLM market in the electrical and electronics industry?
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