How big is the PLM Software Market?

The PLM Software Market size is expected to reach USD 29 billion in 2024 and grow at a CAGR of 7.32% to reach USD 41.29 billion by 2029. Read More

What is the current PLM Software Market size?

In 2024, the PLM Software Market size is expected to reach USD 29 billion. Read More

Who are the key players in PLM Software Market?

Siemens AG, SAP SE, Autodesk Inc., Dassault Systems Deutschland GmbH and PTC Inc. are the major companies operating in the PLM Software Market. Read More

Which is the fastest growing region in PLM Software Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in PLM Software Market?

In 2024, the North America accounts for the largest market share in PLM Software Market. Read More

What years does this PLM Software Market cover, and what was the market size in 2023?

In 2023, the PLM Software Market size was estimated at USD 26.88 billion. The report covers the PLM Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the PLM Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What drives the demand for PLM Software Market?

The demand for Product Lifecycle Management (PLM) Market is driven by: a) Need for innovation b) Shorter product development cycles c) Necessity to maintain compliance with industry regulations Read More

Which industries heavily rely on Product Lifecycle Management Software?

Automotive, aerospace, defense, pharmaceuticals, and electronics industries are major users, leveraging Product Lifecycle Management (PLM) for complex product development processes. Read More

What drives the demand for PLM Software Market?

The demand for Product Lifecycle Management (PLM) Market is driven by: a) Need for innovation b) Shorter product development cycles c) Necessity to maintain compliance with industry regulations Read More

PLM Software Market Trends | Industry Analysis, Size & Forecast Report

PLM Software Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Product Lifecycle Management (PLM) Software Companies and the Market is Segmented by Deployment Type (On-Premises, Cloud, and Professional Services), End-User Industry (Electronics, Industrial Equipment, High-Tech, Aerospace, and Defense, Automotive, Architecture, Engineering, and Construction [AEC]), and Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

PLM Software Market Industry Overview

The product lifecycle management (PLM) software market is highly fragmented and competitive, mainly due to the presence of numerous global players. Various market players are moving in R&D with the latest software techniques, building a high level of competitiveness throughout the market. The key players include Dassault Systemes Deutschland GmbH, Siemens, Autodesk Inc., ANSYS Inc., and Infor Inc. The companies are thus maximizing their market share by forming various partnerships, investing in projects, and introducing new products in the market.

In February 2023, global provider of collaboration and design solutions Bricsys, part of Hexagon, declared its partnership with MechWorks, part of ITI Technegroup, a WIPRO company, to offer an integration between Siemens' Teamcenter software and BricsCAD. The solution primarily provides industry-best features to connect BricsCAD's processes faster and enable designers to focus on its product development.
In October 2023, PTC, a leading engineering software and PLM provider, announced its acquisition of pure-systems, a German software company that specializes in product and software variant management. The acquisition had already taken place, as indicated by the disclaimer on pure-systems’ website. The acquisition will bring pure::variants, a tool designed to help engineers and product designers manage product and software variation, to PTC’s portfolio. PTC and pure-systems had previously partnered to integrate pure::variants into PTC’s Codebeamer application lifecycle management (ALM) software.