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The PLM software market in the automotive sector size is estimated to grow at a CAGR of 7.5% between 2023 and 2028. The market size is forecast to increase by USD 2.61 billion. The growth of the market depends on several factors, including the rise in IoT integration, the need to reduce product development time, and the rise in the production of automobiles. PLM software is used in several lifecycle stages of product development such as design, engineering, manufacturing, and maintenance. The market growth is majorly driven by the increasing adoption of mainstream product lifecycle management solutions. The integration of cloud product lifecycle management enhances collaboration and data accessibility, making it a vital tool for automotive companies. Additionally, advancements in mainstream PLM software are streamlining processes from design to production. These technologies enable automotive manufacturers to improve efficiency, reduce time-to-market, and maintain a competitive edge, thereby driving market growth during the forecast period. PLM is used in the manufacture and R&D of motor vehicles such as passenger cars, light commercial vehicles, heavy vehicles, and electric cars.
The report includes a comprehensive outlook on the PLM Software Market in the Automotive Sector, offering forecasts for the industry segmented by Product, which comprises collaborative product data management, computer-aided design, simulation and analysis, and digital manufacturing. Additionally, it categorizes Application into passenger vehicle and commercial vehicle, and covers Regions, including North America, Europe, APAC, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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