ARC Advisory: PLM Use To Double

ByDavid Drickhamer Use of product-lifecycle-management software will double over the next five years according to a recent study by ARC Advisory Group, a technology research organization based in Dedham, Mass. The study defines PLM as the integration of business systems to manage the lifecycle of a product. What does that encompass? Everything it takes for manufacturers to have "the right product at the right place, at the right time and at the right price." "Product lifecycle management is more of a strategy than any one specific product," says ARC Vice President John Moore. "Moving beyond its heritage in computer-aided design (CAD) and product data management (PDM) systems, PLM is evolving into a better understood, recognized and appreciated enterprise business solution whose impact and influence extends across the entire enterprise out to suppliers and customers." Focused on the front end of the product life cycle, PLM currently includes software for managing innovation and portfolio management, project and program management, collaborative design, product-data management, manufacturing process planning, and service/support management. ARC predicts that this market will climb from $5.6 billion to $14 billion by year-end 2007.