Product Lifecycle Management (PLM) Producers and PLM Market Trend

Product Lifecycle Management (PLM) is a software solution that provides services for the entire product lifecycle of an enterprise. PLM can be applied to integrate product-related human resources, processes, applications, and information to support the creation, management, distribution, and application of information throughout the product lifecycle, either within a single location or dispersed across multiple locations, as well as between companies with collaborative relationships in the area of product development.

The global PLM market size was USD 17.5 billion in 2017, growing to USD 24.1 billion in 2022, with a CAGR of 6.6% from 2017 to 2022. The global PLM market size is expected to reach USD 32.7 billion in 2027, with a CAGR of 6.3% from 2022 to 2027.

Figure 2017-2027 Global PLM Market Size (Billion USD) and CAGR

The global top 5 PLM companies account for about 80% market share. They are Siemens (25.9%), Dassault (16.7%), Oracle (12.5%), SAP (11.4%), and PTC (10.5%).
PLM is mainly used in the fields of transportation, industrial equipment, aerospace and defense, and science and technology.