PLM adoption, segments and vendors

The global PLM market has exponentially grown over the last couple of years. In the past, only large manufacturers and global corporations used tailored PLM solutions. Today, mid-sized and small manufacturers have realized all the potential PLM can bring to the table. But PLM software for industrial manufacturing isn’t the only segment that has grown in recent years. That’s why it’s always interesting to take a look at the trends and predictions related to PLM adoption, segments and vendors which seem to be circulating as of late. What changes has the industry been through and how much is it expected to grow?

A woman holding a laptop.
PLM adoption, segments and vendors all seem to be on the rise. What has led to such success?

At Frontech Solutions EU, we have a first-hand experience of just how popular and needed PLM solutions have become. Our PLM software can be tailored to fit the needs of many industries, ultimately leading to easier business processes. And with the growing necessity of businesses for solutions such as these ones, we don’t see business automation going out of style any time soon.

The exponential growth of PLM adoption, segments and vendors

The first thing you should know is that experts predict for the PLM market to witness significant growth in the next four or five years. It should suffice to say that the global PLM market in 2018 was estimated to be at $18.57 billion and that it’s estimated to reach $26.33 billion by 2023. The global PLM market has shown a 6.5% growth and that rate is only going to go up.

But what is it that has sparked such rising popularity and demand for these solutions? Today, PLM solutions are accepted as the core technology when it comes to designing and developing the next generation of products. As such, it makes it a powerful tool when it comes to Product Lifecycle Management for the footwear and apparel industry. And that’s only the starting point of all the things a good PLM solution can do for one business.

By enabling advanced visualization, predictive analytics, and model-based manufacturing, it makes every business process that much easier. Of course, PLM solutions weren’t always deemed as necessary as they are today. But those days seem to be long gone. Namely, businesses all over the world are realizing the potential of this piece of software.

Who is adopting PLM solutions?

What’s so striking is the fact that only a couple of years ago, PLM was mostly a system that was circulating among large enterprise companies. But a look into the recent development shows a significant shift in PLM users. Today, PLM vendors are looking into small and medium-sized manufacturers as potential PLM users. Even though the value of PLM on small businesses is usually best seen after a while, companies are finally realizing all the potential that this piece of software can bring.

Major industry segments adoption trends

We have already touched upon the fact that PLM solutions are no longer limited to a certain industry. Partially, that’s due to the fact that PLM vendors have significantly improved their technologies and propositions.

A woman pointing at a chart of PLM adoption, segments and vendors.
More industries are seeing the benefits of incorporating PLM solutions.

Now, they target a vast audience that consists of many industries. That includes product lifecycle management for the footwear and apparel industry, manufacturers, logistics, etc. However, the primary industries still dominate the majority of the PLM market (77.7%) and they include:

  • Automotive and transportation
  • Industrial equipment
  • Aerospace and defense

Still, PLM vendors still work on adding industry-specific solutions which allow them to expand their range of expertise. When it comes to market growth for specific segments and industries, statistics show that life science, food and beverage, architecture and retail sectors are expected to show significant growth in the coming years. The growth for these industries is estimated to be around 8%.

We here at Frontech Solutions have a first-hand experience of how widespread PLM software has become. Our company doesn’t just service industrial manufacturers, but we also offer PLM solutions for the transportation industry, as well as plant facilities and energy service and supply. Not to mention how demanded our product lifecycle management solutions for the footwear and apparel industry are.

The role of PLM vendors

It would be really hard to predict, count, and assess how many clients every PLM vendor has. Besides, the market is becoming more saturated with new PLM vendors; even though the biggest companies do hold the majority of clients. As previously mentioned, many PLM vendors have realized that with the development of new strategies, new clients also await. And so does monopoly in many different industries. Market trends show that PLM vendors are continually finding additional room for growth in the leading industries, as well as the emerging ones. With automation being on the rise and more needed than ever, it certainly seems like a bright future is in store for these vendors.

Drawing the conclusions about PLM adoption, segments and vendors

With the entire industry expanding beyond all proportions, it seems that everyone with a part in the process has a bright future. PLM solutions keep stretching the boundaries with PLM vendors working hard on developing new strategies. And since more and more industries can now benefit from adopting PLM, these solutions are quickly becoming indispensable. We can see them taking over the world by storm.

A man in business attire sitting and holding a tablet.
So many vendors mean more choices for PLM users.

If you want to get your hands on some of the best PLM solutions for the European market, just schedule a consultation with us. Our team will gladly go through the entire process with you, as well as explain the expansion of PLM adoption, segments and vendors if the need arises. With the experience we have under our belt, you can rest assured you will be getting some of the best solutions at the moment. Our team doesn’t mind going the extra mile if that ensures your complete satisfaction with our PLM solutions. We look forward to hearing from you.

Subscribe to our mailing list to receive the latest news from the PLM world!