PTC today announced it has been ranked a leading provider of product lifecycle management (PLM) solutions in China by independent global PLM strategic management consulting and research firm CIMdata, Inc. In its 2014 China PLM Market Report just issued, CIMdata identified PTC as the clear market leader in three categories: collaborative Product Definition management (cPDm), as well as in PLM revenues from the Aerospace & Defense and Electronics & High Tech verticals.
CIMdata predicts that the China PLM market will maintain rapid growth. The report indicates that the five-year Compound Annual Growth Rate (CAGR) for the market for calendar years 2014 through 2018 is forecast to be approximately 14.9%. The report further states that A&D is the largest industry sector in the China PLM market.
"PTC continues to experience success in the China market due to the robustness of its PLM offering, commitment to its customers, and ongoing investment in the rapidly growing Chinese market," said Stan Przybylinski, Vice President of Research, CIMdata. "The China PLM market repeatedly has outpaced the growth of the global PLM market, as Chinese manufacturers focus on product innovation as a means of differentiation. These companies deploy PLM as a means to promote collaboration, automate and manage processes, and capture best practices. PTC has established itself as a strong presence in the market, and is well positioned to take advantage of market opportunities."
PLM forms the product information backbone for a company and serves as an information repository for its extended enterprise and distributed workforce. CIMdata defines PLM as a strategic business approach that applies a consistent set of business solutions in support of the collaborative creation, management, dissemination, and use of product definition information across the extended enterprise.
PTC's #1 ranking in the cPDm market segment in China reflects the success of its PTC Windchill® PLM solutions, which enable manufacturers to do more throughout the product lifecycle, know more about product performance, and get more value from their PLM investment. PTC's solutions help customers transform the way they create, operate, and service products across the entire product lifecycle – from conception and design to sourcing and service.
"We are committed to helping our customers in China achieve product and service advantage in a highly competitive market by providing them with world-class technology, professional services, and personal support," said Richard Shou, DVP, President of PTC China.
