Product Lifecycle Management Market To Hit $6.9 Billion In 2005

July 19, 2006

As product lifecycle management (PLM) products have expanded past traditional applications to include testing applications such as CAD as well as production processes, new product introduction, content management and product support, the PLM market is ...

Adrienne Selko

According to Dedham, Mass.-based ARC Advisory Group's report, "Product Lifecycle Management Solutions: Worldwide Outlook Market Analysis and Forecast through 2010", over the next five years this market will grow at 14.2%. By 2010 it will top $13.3 billion.

Within this sector, digital manufacturing will show an especially strong growth rate of 21%. "PLM solutions continue to expand ... This is especially true in the case of digital manufacturing where the manufacturing processes are integrated with product design through robust simulation tools to generate the factory production process," says study author Dick Slansky.

Geographically, growth will be strong in Asia where it already represents over 20% of the PLM market in 2005. It will grow to 23% by 2010. Japan is still largest market within Asia with China and India expanding.

The discrete industries remain the largest segment for PLM solutions in 2005 representing nearly 90% of the total market. Within the discrete industries, the automotive and aerospace sectors are have invested most in PLM. The balance of the PLM market is represented by the process industries, which while small will see substantial growth over the forecast period.

For more information about the study visit:
http://www.arcweb.com/C3/Research/Lists/StudyList/DispForm.aspx?ID=46

About the Author

Adrienne Selko | Senior Editor

Focus: Workforce, Talent

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today.

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world.