According to the research report titled ‘Global Plm Software Market 2019-2028’, available with Market Study Report, global PLM software market is expected to expand at 7.10% CAGR during 2019-2028.
 

Growing inclination towards digitalization in order to improve production capabilities in tandem with rising demand for personalized apparels are key factors fueling global PLM software market size. Mounting concerns over data security have compelled various organizations to opt for cloud-computing technologies, which in turn is also adding traction to the overall market size.
 

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However, lack of interoperability between various versions in the industrial space coupled with growing piracy of the product could act as a bottleneck for global PLM software market expansion.
 

As per enterprise, the market is segmented into small and medium enterprise and large enterprise. By deployment, the industry is split into professional services, cloud, and on-premise segments.
 

Moving on to component type, global PLM software market is categorized into digital manufacturing software, simulation & analysis software, mechanical computer aided design software, and collaborative product definition management software.
 

Speaking of software type, the market is bifurcated into manufacturing operations management, simulation testing and change management, quality and compliance management, design and engineering management, portfolio management, and others.
 

The end-user reach of this business space consists of architecture, engineering and construction, automotive, aerospace and defense, as well as electronics, industrial, and high-tech solutions.
 

From the regional standpoint, Asia-Pacific PLM software market is anticipated to showcase a strong CAGR through 2028, owing to favorable regulatory scenario, increasing popularity of Industry 4.0, and growing demand among manufacturers for some advanced technologies.
 

The competitive landscape of global PLM software market is defined by companies such as Razorleaf Corporation, Altair Engineering Inc., Accenture plc, Infor, Arena Solutions, Aras Corporation, Oracle Corp., Ansys Inc., SAP SE, PTC Inc., Autodesk Inc., Dassault Systèmes SE, and Siemens AG among others.