PLM in Discrete Manufacturing Market
What combination of drivers is leading to accelerated growth in the plm in discrete manufacturing market?
The adoption spike of smart factories and intelligent manufacturing is anticipated to boost the expansion of PLM in the discrete manufacturing market. A smart factory is essentially a digitalized manufacturing unit, while smart manufacturing is primarily a technology-based process that leverages internet-connected devices for production process monitoring. PLM Discrete empowers smart factories and smart manufacturing by leveraging the collected information to improve protocols and address potential issues. For example, in March 2022, Plex Systems, an American software company operating within the PLM in the discrete manufacturing market, reported in its 7th annual state of smart manufacturing report a surge in smart manufacturing adoption rates by 50% over a year, with two-thirds of all manufacturers incorporating some form of smart manufacturing component. Thus, the rising adoption of smart factories and intelligent manufacturing is propelling the growth of the PLM in the discrete manufacturing market.
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What is the projected compound annual growth rate (CAGR) of the plm in discrete manufacturing market from 2025 to 2034, and what factors influence it?
There has been a robust growth in the market size of PLM in discrete manufacturing in previous years. The market, which is projected to escalate from $23.16 billion in 2024 to $24.62 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 6.3%. The growth experienced during the historic period is due to factors such as globalization and distributed manufacturing, increased product complexity, regulatory compliance, quality assurance, hastened innovation cycles, cost reduction and betterment of efficiency.
In the coming years, the PLM in discrete manufacturing market is forecasted to experience significant growth, projected to escalate to $35.65 billion by 2029 at a compound annual growth rate (CAGR) of 9.7%. This expected growth during the forecast period is primarily due to factors such as digital transformation and industry 4.0, an emphasis on sustainability and environmental concerns, advancements in simulation and virtual prototyping, and enhanced collaboration within the extended ecosystem. The major trends predicted for the forecast period include integrated product development, IoT integration, cutting-edge analytics and simulation, along with additive manufacturing (3D printing).
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How are the latest trends influencing the growth of the plm in discrete manufacturing market?
Strategic alliances are a rising trend that is experiencing significant momentum in the discrete manufacturing PLM market. Numerous prominent corporations in the PLM discrete manufacturing sector are exploring partnerships to reinforce their market position. For instance, in January 2022, Siemens’ Capital software, a company based in the United States, became the primary platform for designing electrical and electronic (E/E) systems and engineering electrical harness manufacturing for Airbus. The strengthening of their partnership aimed to boost Airbus’ Lean PLM environment, escalating collaboration and effectiveness across its development teams located in various countries. These partnerships enable these sectors to utilize sophisticated technologies to enhance efficiency, innovation, and the overall quality of products. Airbus, a company based in Europe, is renowned for its innovative approach towards aerospace engineering, with a specific emphasis on sustainability and efficiency.
What are the major segments of the plm in discrete manufacturing market and their role in driving growth?
The plm in discrete manufacturing market covered in this report is segmented –
1) By Component: Software, Services
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
3) By Deployment Model: On-Premise, Cloud
4) By Industry Vertical: Automotive And Transportation, Industrial Machinery And Heavy Equipment, High-Tech And Consumer Electronics, Aerospace And Defense, Other Industry Verticals
Subsegments:
1) By Software: Product Design Software, Collaboration Software, Configuration Management Software, Document Management Software, Analytics And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Maintenance And Upgrades
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Which regions are key players in the growth of the plm in discrete manufacturing market?
North America was the largest region in the PLM in discrete manufacturing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the PLM in discrete manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the plm in discrete manufacturing market?
Major companies operating in the plm in discrete manufacturing market include ANSYS Inc, Plex Systems Inc, Autodesk Inc, Dassault Systèmes SE, Infor, Oracle Corporation, Parametric Technology Corporation Inc, SAP SE, Siemens AG, Lascom, KloudPLM, OpenBOM, Aras Corporation, Arena Solutions Inc., Centric Software Inc., ESI Group, Granta Design Limited, International Business Machines Corporation, Mentor Graphics Corporation, Parametric Technology Corporation, Tata Technologies Limited
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What Is Covered In The PLM in Discrete Manufacturing Global Market Report?
•Market Size Forecast: Examine the plm in discrete manufacturing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the plm in discrete manufacturing market for a structured understanding.
•Key Players Overview: Analyze major players in the plm in discrete manufacturing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the plm in discrete manufacturing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the plm in discrete manufacturing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the plm in discrete manufacturing market.
•Industry Challenges: Identify potential risks and obstacles affecting the plm in discrete manufacturing market.
•Competitive Landscape: Review strategic developments in the plm in discrete manufacturing market, including expansions, agreements, and new product launches.
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