What has been happening with PLM for the last 10 years?
With the year 2020 being already in progress, it seems like just the right time to reflect on the last ten years. There are a couple of things that have happened to PLM and changed the way companies do business. You don’t have to be an expert to know what has been happening with PLM for the last 10 years – all you need is us!
You can rest assured that we here at Frontech Solutions EU develop and adjust our systems with the times. Today, we have some of the most modern and useful PLM solutions that will help you automate a lot of your business processes. One consultation with our team is all that stands between you and a tailored PLM solution that is created in correspondence with the industry standards.
The awareness about PLM was raised in the last decade
If you were to ask a business owner what PLM software is, chances are that a decade ago, you would have gotten a blank stare. Today, businesses all around the world see the importance of having a tailored PLM solution incorporated in their business model. Even though there are still a lot of misconceptions when it comes to PLM, including the fact that it’s seen as an engineering project first, there is a lot of evidence that suggests otherwise. Industrial companies have noticed that the importance of PLM goes much beyond engineering projects.
In fact, the majority of PLM activity is happening in manufacturing and industrial companies where annual revenues by far exceed $1B. What an industrial manufacturing PLM system does is help you work smarter, not harder. But on second thought, that’s one of the main goals and benefits of any PLM software. It’s there to make your life easier.
Growth in investments is one of the main things that have happened with PLM for the last 10 years
With more awareness about PLM and its potential, it’s only natural that more people would be interested in investing in the field. There are a few major investments and transactions that have happened in the field. But the majority of them took place after 2015. However, that’s by far not the only way that the PLM industry has grown in the last ten years. It also grew by acquisitions.
We can notice that large PLM companies have acquired new technologies, new customers, new startups, etc. If you were to take a look at the market share in PLM in 2010 and compare it to 2020, you would notice that it mostly consists of the same companies. While there are many new companies that focus on creating this software, the big ones have only gotten bigger in the last decade. It only gives you the idea that working towards modernizing your business processes with PLM might not be a bad idea after all.
PLM in manufacturing has reached global scales
It is an undeniable fact that, during the last decade, the PLM business has become present in many industries. The demand for PLM for apparel and footwear as well as for the PLM solutions for plant facility has intensified significantly. But it seems like PLM for the last 10 years has left the biggest mark on industrial manufacturing. With global development being a trending topic in manufacturing, it became clear that businesses needed extra support with their growing global activities. Do you wonder why? It’s because manufacturers are under constant pressure to be innovative while controlling the cost of their activities.
Thanks to PLM solutions, even the smallest manufacturers are now able to operate on a global scale. One thing is certain. Both large and small manufacturers can enjoy a plethora of benefits after integrating a PLM system, such as:
- Managing engineering processes
- Accelerating workflow
- Helping with production, maintenance, and support activities
- Enabling efficient communication between internal and external parties
A good PLM system will support many of your business activities and processes. And that’s one of the main things that have happened to PLM in the last ten years – it grew beyond every measure into what it is today. And what PLM is today is one of the integral parts of many successful businesses nowadays. That’s certainly a title that isn’t to be taken lightly.
The introduction of Cloud and SaaS
In the last decade, the PLM industry has merged into Cloud and SaaS businesses. There’s no denying that Cloud technologies are the future. But what might be interesting is the way that vendors are approaching Cloud and SaaS. Some host existing products using IaaS platforms. Others build universal Cloud platforms and acquire new technologies for building SaaS products. So when compared to the industry before 2010, the rise in Cloud and SaaS activity is more than just visible – it’s striking. According to many experts, it’s only expected to gain popularity even in the years following 2020.
The conclusion about the changes with PLM during the last ten years
If you paid close attention during the last couple of minutes, then you should be able to draw your own conclusion. The last decade was a very lucrative and healthy period for the PLM business. Companies that have decided to integrate PLM in their business processes witnessed exponential growth and overall stability. Our modest opinion and conclusion are that the PLM industry is destined to keep on growing in the years to come.
If you have been sold and are feeling like it’s the right time to integrate PLM into your business, feel free to schedule a consultation with our team. Frontech Solutions EU is familiar with everything that has happened with PLM for the last 10 years. Why? Because we are leaders on the European soil. Contact us and ensure your business gets the leverage it deserves. Also, increased productivity and minimized errors won’t hurt the cause.