PLM poised for double digit growth

ARC Advisory Group predicts that adoption of product lifecycle management (PLM) solutions will continue to accelerate, becoming one of the top enterprise software markets through 2008.

01/13/2005


ARC Advisory Group predicts that adoption of product lifecycle management (PLM) solutions will continue to accelerate, becoming one of the top enterprise software markets through 2008. According to a new ARC Advisory Group study , the worldwide market for PLM software and services is expected to grow at a compound annual growth rate of 11.5% over the next five years. The market was $5.3 billion in 2003 and is forecasted to be nearly $9.2 billion in 2008.


John Moore, lead author of the study for ARC sees strong growth occurring across most sectors of the PLM market, but particularly strong growth of over 16% is projected for product data management (PDM) software and services. “While PDM solutions have been in the market for a number of years, their adoption and use has been limited to addressing the needs of an enterprise’s engineering department. Companies are quickly realizing that PDM can no longer be confined to engineering, but must become the foundation and repository for all product-centric information, to enable a multitude of cross division business processes,” Moore says. “In addition to growth of net new users of PDM solutions, there is a significant replacement market for legacy PDM solutions as they do not have the collaboration capabilities that are required in today’s market.”

The study notes that the discrete industry remains the largest single sector for PLM spending in 2003, representing nearly 90% of the total market. Within the discrete industry, the automotive market is the single largest market for PLM. The balance of the PLM market is represented by the process industries, which is expected to see above-average growth over the forecast period, particularly in the consumer products goods and food and beverage industries.

—David Greenfield, editorial director, Control Engineering, dgreenfield@reedbusiness.com





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Controller programming; Safety networks; Enclosure design; Power quality; Safety integrity levels; Increasing process efficiency
Additive manufacturing benefits; HMI and sensor tips; System integrator advice; Innovations from the industry
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me