Global Cloud-Based PLM Market to Reach USD 149.15 Billion by 2031 | CAGR of 16.8%
Category : IT And Telecommunications | Published Date : Nov 2024 | Type : Press Release
Cloud-Based PLM Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Cloud-Based PLM Market size was valued at USD 42.98 billion in 2023 and is projected to grow at a CAGR of 16.8% during the forecast period to reach USD 149.15 billion by 2031. Cloud-based Product Lifecycle Management (PLM) solutions streamline product data management, enhance collaboration, and optimize workflows across the product lifecycle. Unlike traditional PLM systems, these cloud-based platforms offer scalability, real-time accessibility, and integration capabilities to improve product innovation, accelerate time-to-market, and reduce costs.
The report comprises the Cloud-Based PLM Market Share, Size & Industry Analysis, based on Component (Software, Services), Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (Small & Medium Enterprises, Large Enterprises), Application (Product Data Management, Collaborative Product Design, Manufacturing Process Management, Portfolio Management), End-User Industry (Automotive, Aerospace & Defense, Healthcare, Electronics & Semiconductors, Consumer Goods, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Cloud-Based PLM Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing emphasis on digital transformation and Industry 4.0 initiatives, combined with the need for real-time collaboration across global supply chains, is driving the adoption of cloud-based PLM solutions.
Segmental Analysis :
Based on component, the market is bifurcated into Software and Services.
- Software: Accounted for the largest market share in 2023, driven by its comprehensive capabilities such as BOM management, compliance management, and virtual prototyping, enabling efficient product lifecycle management.
- Services: Expected to grow at the fastest CAGR, fueled by the increasing demand for consulting, integration, and support services that help organizations implement and optimize cloud-based PLM systems.
Based on deployment mode, the market is bifurcated into Public Cloud and Hybrid Cloud.
- Public Cloud: Dominated the market in 2023 with a share of 67.83%, attributed to its scalability, cost-effectiveness, and ease of adoption across industries.
- Hybrid Cloud: Projected to grow rapidly, driven by its ability to offer enhanced control over sensitive data while leveraging the scalability of public cloud infrastructure.
Based on organization size, the market is bifurcated into Large Enterprises and Small & Medium Enterprises (SMEs).
- Large Enterprises: Held the largest market share in 2023, owing to the need for robust solutions to manage extensive product data and streamline global operations.
- SMEs: Anticipated to grow at the fastest rate, supported by the availability of scalable and cost-effective cloud-based PLM solutions tailored to meet their specific needs.
Based on application, the market is bifurcated into Product Data Management and Collaborative Product Design.
- Product Data Management: Accounted for the largest share in 2023, driven by its role in centralizing product information, ensuring accuracy, and supporting compliance requirements.
- Collaborative Product Design: Expected to grow at the fastest CAGR, fueled by the increasing demand for real-time collaboration and improved design efficiency across teams.
Based on region, the market is bifurcated into Asia-Pacific and North America.
- Asia-Pacific: Accounted for the fastest growth with a CAGR of 17.3%, driven by rapid industrialization, the adoption of digital solutions, and a thriving manufacturing sector in countries like China, India, and Japan.
- North America: Held the largest revenue share in 2023, valued at USD 14.79 billion, supported by the strong presence of major PLM providers and robust adoption in industries such as aerospace, automotive, and electronics.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 149.15 Billion |
| CAGR (2024-2031) | 16.8% |
| By Component | Software (Design & Engineering, BOM Management, Compliance Management), Services (Consulting, Integration, Support) |
| By Deployment Mode | Public Cloud, Private Cloud, Hybrid Cloud |
| By Organization Size | Small & Medium Enterprises, Large Enterprises |
| By Application | Product Data Management, Collaborative Product Design, Manufacturing Process Management, Portfolio Management |
| By End-User Industry | Automotive, Aerospace & Defense, Healthcare, Electronics & Semiconductors, Consumer Goods, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The Cloud-Based PLM Market features intense competition, with key players emphasizing R&D, innovation, and strategic partnerships to enhance their offerings. Leading companies such as PTC, Siemens Digital Industries Software, and Dassault Systèmes dominate the market with advanced PLM solutions tailored for diverse industries. Emerging players like Propel and Arena Solutions are disrupting the market with cloud-native platforms designed for agility and scalability.
List of prominent players in the Cloud-Based PLM Industry:
- PTC (USA)
- Siemens Digital Industries Software (Germany)
- Dassault Systèmes (France)
- Autodesk (USA)
- Oracle Corporation (USA)
- SAP SE (Germany)
- Infor (USA)
- Upchain (Canada)
- Propel (USA)
- Arena Solutions (USA)
Recent Industry Developments :
- August 2024: SAP collaborated with Hilti to integrate PLM solutions on the cloud, enhancing operational efficiency and data management across construction product lifecycles.
- May 2024: Siemens partnered with Microsoft to bring Teamcenter X to Azure, integrating AI tools like Microsoft Copilot to improve workflow optimization and team productivity.
- March 2024: Aras introduced enhancements to its PLM platform, improving supply chain collaboration and enabling better data integration.
