Enjoy complimentary customisation on priority with our Enterprise License!
The global cPDM market in fabrication and assembly industry is mainly driven by the increasing role of cPDM in the manufacture of industrial machinery. Technavio’s market research analysts predict the global cPDM market to grow at a CAGR of close to 9% during the forecast period.
The need to comply with regulatory standards is a key factor driving OEMs to adopt cPDM solutions. Many manufacturing companies need PLM software to deal with various functional levels such as product designing, design engineering, and manufacturing. The market is expected to witness a greater demand for product customization during the forecast period.
Vendors in the cPDM for fabrication and assembly market have expanded themselves from traditional services involving installation of software, to being an integral part of the service offering through real time monitoring of the product development phase.
Many medium sized manufacturers are expected to adopt cPDM and increase their investments in the purchase of software and software licenses over the next four years.
The EMEA and APAC regions have emerged as popular destinations for the manufacturing industry due to the availability of skilled labor at low costs as compared to other regions. This trend is expected to continue during the forecast period with the industrial machinery sector experiencing immense growth, especially in the APAC. Countries such as Japan, China, India, and South Korea are the leading regions for this market.
The leading companies in this market are looking to increase their market shares by offering innovative packages based on specific needs and requirements of manufacturers. As per this market forecast, many open-source vendors are predicted to enter the market and offer tough competition to commercial vendors during the forecast period.
The other prominent vendors of this market include Accenture, HP, IBM, Oracle, Synopsys, TCS, Capgemini, and Deloitte.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.