Market opportunity of cPDMs in the automotive sector
Automotive manufacturers are facing product recalls across wide-ranging categories. Effective usage of PLM software such as CAD, cPDM, CAE and CAM helps in reducing defects, and it is thus fostering the rapid adoption of PLM software. The global cPDM market in the automotive sector is expected to witness significant growth over the next four years and post a CAGR of nearly 11%, as per Technavio’s market research analysts.
Increased investments in R&D by automotive manufacturers and the growing demand for improved safety features in automobiles essentially drives this market. It is also likely to witness a major push towards the application of cPDMs for increasing fuel efficiency in vehicles during the forecast period.
Market segmentation of cPDMs in the automotive sector
New PLM installations are occurring in the APAC region, thus driving the adoption of cPDM software in the automotive sector. As per the forecast, the leading vendors of this market are increasingly focusing on reducing the cost of PLM through the adoption of cloud-based services. Many new PLM service providers are expected to provide cost-effective cloud solutions for automotive end-users during the forecast period.
Vendor landscape of the cPDM market in the automotive sector
The other prominent vendors in the services segment include companies such as Synopsys, Deloitte, HP, TCS, IBM, Accenture, and Capgemini. These companies are playing a major role in solving the problems associated with the implementation of PLM software. The companies have expanded themselves from the traditional services such as the installation of software to being an integral part of the company through real-time monitoring in product development phases.
Geographical segmentation of the cPDM market in the automotive sector
EMEA generates the majority of the revenue in the global cPDM market in the Automotive industry followed by the Americas. Most of the major Automobile companies that have huge R&D facilities are situated in Europe. Volkswagen is one of the largest spenders in R&D in the automotive industry. It is a key reason for the EMEA to hold the major share of the market in 2014.
Key questions answered in the report
What are the key factors driving the cPDM market in the automotive sector?
What are the key market trends impacting the growth of the cPDM market in the automotive sector
What are the various opportunities and threats faced by the vendors in the cPDM market in the automotive sector?
Growth forecast for the key segments of the cPDM market in the automotive sector?
Trending factors influencing the market shares for EMEA, APAC, and Americas?
Key outcome of the market analysis of the leading countries in the cPDM market in the automotive sector?
Key outcome of the five forces analysis on the cPDM market in the automotive sector?
The impact of automotive product recalls on the cPDM market in the automotive sector?
Key outcome of the R&D drivers for the cPDM market in the automotive sector?
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