Due to demand for increased efficiency and productivity, a continuing need for collaboration across a global manufacturing lifecycle, PLM solutions are now being readily adopted by a set of industrial verticals such as medical devices, consumer goods, retail, shipbuilding, energy generation & utilities, and AEC. The rapidly growing need for product re-invention and innovation, the emergence of mechatronics and product complexity, the continued growth of manufacturing in emerging economies, and expanding adoption of a more holistic end-to-end PLM solution set are all contributing to growth in the worldwide PLM market.
Manufacturers are looking to implement an end-to-end set of solutions from design through manufacturing to automation and factory floor operations. The scope of PLM has progressed from design/build to design/build/automated/operate/maintain.
There are some specific trends that will impact multiple industries. One of these trends is the development and manufacture of the next generation smart products. While manufacturers across all industrial sectors are ramping up to meet demand for this growing “smart product” market, they face major challenges in developing and manufacturing new products that are significantly more complex.
Increasing complexity, growing globalization, And the need to reduce costs and shorten product cycles have made product lifecycle management (PLM) a necessity for global manufacturers. With the reach and impact of PLM now extending to all facets of an organization’s product operations and processes the implications are clear: choosing a PLM solution is a matter of selecting both the right solution and the right partner.