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.


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,

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.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
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.
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
Selecting the best controller from several viewpoints; System integrator advice for the IIoT; TSN and real-time Ethernet; Questions to ask when selecting a VFD; Action items for an aging PLC/DCS
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

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

Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me