Cloud Based Plm Market Size, Share, Industry Trends and Forecast to 2030

Cloud Based PLM Market Size & CAGR in 2021

The global cloud-based PLM market is expected to have a growth rate of 7.3% CAGR from 2021 to 2026. As a result, the market is anticipated to reach a value of USD 18.56 billion by 2026.

COVID-19 Impact on the Cloud Based PLM Market

The COVID-19 pandemic has significantly impacted the cloud-based PLM market. The lockdowns and restrictions imposed by governments worldwide led to disruptions in supply chains and manufacturing processes, affecting the implementation of cloud-based PLM solutions. However, the pandemic also highlighted the importance of digital transformation and the adoption of cloud technologies, leading to an increased demand for cloud-based PLM solutions.

Cloud Based PLM Dynamics

The cloud-based PLM market is driven by factors such as increasing adoption of cloud technologies, rising demand for product lifecycle management solutions, and the need for remote collaboration due to the COVID-19 pandemic. Additionally, the integration of advanced technologies such as AI, IoT, and Big Data analytics in cloud-based PLM solutions is further contributing to market growth.

Segments and Related Analysis

The cloud-based PLM market can be segmented based on deployment model, organization size, industry vertical, and region. By deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. Based on organization size, the market is categorized into small and medium enterprises (SMEs) and large enterprises.

By Region Analysis

In terms of region, North America led the global cloud-based PLM market in 2021, followed by Europe and Asia Pacific. The presence of key market players, technological advancements, and high adoption of cloud technologies in North America contributed to the region's dominance in the market.

Key Market Players and Competitive Landscape

Major players in the cloud-based PLM market include Siemens AG, Dassault Systèmes, PTC Inc., Autodesk Inc., and Oracle Corporation. These companies are focusing on product innovation, strategic partnerships, and acquisitions to strengthen their market position and expand their customer base.

Recent Happenings in the Cloud Based PLM Market

In recent developments, Siemens AG announced the launch of a new cloud-based PLM solution that combines digital twin technology with AI for enhanced product design and development. Dassault Systèmes introduced a cloud-based platform for collaborative product lifecycle management, enabling real-time collaboration and data sharing among teams.