Growing Demand From Non-Traditional Sectors to Increase Valuation of Product Lifecycle Management Ma
Market Research, Product Lifecycle Management Market
According to a recent market research report published by Transparency Market Research, the global product lifecycle management market is expected to develop at a CAGR of 8.10% during the period between 2015 and 2022. The report, titled “Product Lifecycle Management (PLM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022”, estimates the global product lifecycle management market to be worth US$75.8 billion in 2022. The overall market was valued at US$40.2 billion in 2014.
Browse the full Product Lifecycle Management Market report at http://www.transparencymarketresearch.com/product-lifecycle-management-market.html
The report points out that the enablement of product innovation, significant reduction in time-to-market products, and reduction in operational costs through PLM solutions will propel the growth of the global PLM market. Increasing demand for PLM solutions from non-traditional sectors such as pharmaceutical, retail, and consumer packaged goods will further boost the market growth. However, the global PLM market will be restrained by low adoption of PLM solutions by small and medium-sized enterprises.
, Product Lifecycle Management Market