Product Lifecycle Management [PLM] Market: Strong Application,Emerging Trends And Future Scope By 2020 - 2030
Product Lifecycle Management (PLM) Market: Introduction The global Product Lifecycle Management (PLM) market is expected to reach a value of US$ 91.9 Bn by 2030 . The market is estimated to expand at a CAGR of ~5% during the forecast period from 2020 to 2030. The rising demand for product innovation, productivity enhancement, reduction in operational costs, as well as increasing deployment of PLM solutions in non-traditional end use sectors such as consumer products and retail, and medical devices and pharmaceutical are some of the key factors driving the growth of the Product Lifecycle Management (PLM) market globally. North America was the largest Product Lifecycle Management (PLM) market in the year 2019, accounting for a market share of ~ 36.9% . North America is a mature market in terms of adoption of PLM solutions due to high investment in various end use segments in technologies to reduce the tim...