August 6, 2021
CIMdata, Inc. has released the CIMdata PLM Industry Analysis Report, the fifth of five modules of the CIMdata 2021 PLM Market Analysis Report Series. The MAR Series provides detailed information and in-depth analysis on the worldwide PLM market during 2020. It contains analyses of major trends and issues, revenues of leading PLM providers, and revenue analyses for geographical regions, industry sectors and historical and projected data on market growth.
All industries saw growth in PLM spending in 2020, as shown in the figure below. CIMdata forecasts continued growth in all industries during the 5-year forecast period.
PLM spending is greatest in automotive & other transportation, mechanical machinery and heavy equipment, and aerospace & defense, according to CIMdata. It is lower in the process industries and utilities. However, some good process-focused PLM solutions are available, and they are becoming more important with growing concerns about food safety, particularly in emerging economies.
Growth in PLM for medical devices is driven by stringent compliance requirements that can vary by country, something that PLM strategies and enabling solutions can address, CIMdata reports. All industries are being affected by the trend toward smart, connected products, either directly or because of the effects of the Internet of Things (IoT) and the drive toward Industry 4.0, an initiative that originated in Germany that has inspired programs and spending in countries around the world.
CIMdata believes there are good opportunities in all segments as corporate management continues to become more cognizant of the value of PLM and its positive impacts on both the top and bottom lines of a business. The global COVID-19 pandemic had a large impact on the PLM market in 2020 and CIMdata’s forecasts include consideration of its continuing effects in 2021 and beyond. Different industries will see different impacts, and this is discussed in the report.
“The global PLM Economy struggled in the face of COVID-19, but many PLM providers were part of success stories around the globe. After a tough year, the global PLM market grew 3.8% in 2020, over our forecast of -1.7%, mainly due to strength in some tools segments,” says Stan Przybylinski, CIMdata’s vice president. “The leading PLM solution providers continue to consolidate their portfolios after years of acquisitions.
“Before the pandemic, CIMdata was not sure if M&A activity would continue at the same high rate, but the PLM Economy did not miss a beat, with almost as many acquisitions in 2020 as in 2019,” he adds. “And the rate has increased so far in 2021. There were differential impacts by industry but CIMdata believes that the underlying trends have only gotten stronger and expects investment to rebound in 2021 and beyond.”
Przybylinski goes on to note that industrial companies are embracing digitalization strategies and using PLM to enable collaborative, distributed, flexible design and manufacturing settings to better manage the product or plant lifecycle. Additionally he points out that interest in cloud-based solutions grew notably in 2020.
The CIMdata PLM Market Analysis Report Series comprises five modules:
- The CIMdata 2021 Executive PLM Market Report provides an overview of CIMdata’s complete global analysis. It includes key charts on PLM market investment statistics through 2020, forecasts of investments for 2021 through 2025, and a summary of PLM solution providers’ performance in 2020.
- The CIMdata 2021 PLM Industry Review and Trends Report focuses on key issues facing the global PLM ecosystem of solution providers and end-user groups.
- The CIMdata 2021 PLM Market and Solution Provider Analysis Report details measures of and forecasts for the overall PLM market and its key segments in 2020, including Tools, cPDm, and Digital Manufacturing.
- The CIMdata 2021 PLM Market Geographic Analysis Report provides an additional view of the 2020 market results by major geography. CIMdata’s 2020 estimates and market forecasts for PLM and the major PLM market segments are provided for the Americas, EMEA, and Asia-Pacific.
- The CIMdata 2021 PLM Market Industry Analysis Report provides an industry segmentation view of 2020 market results. CIMdata’s 2020 estimates and market forecasts for PLM and cPDm are given for 10 sectors: aerospace and defense, automotive and other transportation, electronics/telecommunications, fabrication and assembly, process-packaged goods, process—petrochemical, utilities, construction, infrastructure, and shipbuilding.
The CIMdata PLM Market Analysis Report Series is available as a five-module set. Individual modules can be purchased separately. Selected modules are available as part of the CIMdata Community memberships. Further details and pricing information about the report and Community Memberships are available here.