Third Module of the 2024 PLM MAR Report Series
ANN ARBOR, Michigan, USA 5 September 2024—CIMdata, Inc., the leading global PLM strategic management consulting and research firm, announces the release of the CIMdata PLM Market and Solution Provider Analysis Report, the third of five modules of the CIMdata 2024 Market Analysis Report Series. The MAR Series provides detailed information and in-depth analysis of the worldwide PLM market during 2023. It contains analyses of major trends and issues, revenues of leading PLM solution providers, revenue analyses for geographical regions and industry sectors, and historical and projected data on market growth.
Distribution of 2023 PLM Revenue by Market Sector
“The PLM market grew to US$72.6 billion overall in 2023, 9% growth over 2022,” according to Ms. Christine Longwell, CIMdata’s Director of Research. “Electronic Design Automation (EDA) saw strong double-digit gains, driven by market leaders Synopsys, Cadence, and Siemens’ Mentor. Simulation and Analysis grew by a robust 8.7%, and the comprehensive cPDm segment grew by 8.9% year-on-year.” CIMdata expects continued market growth as companies recognize the business benefits of a robust Digital Thread from ideation through end of life. PLM has traditionally been broadly used in regulated industries like aerospace and defense, automotive, and medical devices, but increasingly these technologies are being adopted by companies that make consumer products such as fashion, retail, and apparel, and consumable products. CIMdata forecasts the PLM market to grow 8.6% in 2024. Looking toward 2028, CIMdata forecasts the PLM market to grow at a compound annual growth rate (CAGR) of 9.1% to just over US$112 billion.”
Companies make PLM investments in many different areas and with many types of solutions including mechanical and electrical CAD, simulation and analysis, visualization and collaboration, building design, and others. This diversity is reflected in the different solution providers to the PLM market and in the fact that no single type of provider dominates the industry. During 2023, several providers generated substantial revenues that represent PLM-related investments. Three solution providers, Dassault Systèmes, PTC, and Siemens Digital Industries Software, are major providers of both tools (such as MCAD) and cPDm technology, while others, such as Autodesk and Cadence, are primarily tool providers that focus on specific segments within the overall market. It illustrates the breadth of companies that participate in the overall PLM market, even though they may not all compete directly with each other.
This report is the third of five modules of the CIMdata 2024 Market Analysis Report Series to be released. The MAR Series provides detailed information and an in-depth analysis of the worldwide PLM market during the calendar year 2023. It contains analyses of major trends and issues, revenues of leading PLM providers, revenue analyses for geographical regions and industry sectors, and historical and projected data on market growth.
The CIMdata PLM Market Analysis Report Series is packaged into five modules:
- The CIMdata 2024 Executive PLM Market Report provides an overview of CIMdata’s complete global analysis. It includes key charts on PLM market investment statistics through 2023, forecasts of investments for 2024 through 2028, and a summary of PLM solution providers’ performance in 2023.
- The CIMdata 2024 PLM Industry Review and Trends Report is mainly qualitative and focuses on key issues facing the global PLM Ecosystem of solution providers and end-user organizations. It highlights the changes that occurred in 2023, what impacts those changes may have in the short and medium terms, and what is on the horizon in the coming years.
- The CIMdata 2024 PLM Market and Solution Provider Analysis Report details measures of and forecasts for the overall PLM market and its key segments in 2023, including Tools, cPDm, and Digital Manufacturing. The Tools section details sub-segments, including MCAD, NC, S&A, EDA, and AEC. It also includes CIMdata’s estimates of PLM solution provider revenues in these segments and sub-segments for 2024 through 2028.
- The CIMdata 2024 PLM Market Geographic Analysis Report provides a view of the 2023 market results by major geography. Estimates and market forecasts for PLM and the major PLM market segments are provided for the Americas, EMEA, and Asia-Pacific. In addition, the report includes estimates and forecasts for the cPDm segment within specific European and Asia-Pacific countries and regions.
- The CIMdata 2024 PLM Market Industry Analysis Report provides an industry segmentation view of the 2023 market results. Estimates and market forecasts for PLM and cPDm are provided for ten industry 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, or each module can be purchased separately. Some modules are included as part of a CIMdata Community Membership. Further details and pricing information about the report and Community Memberships are available at www.CIMdata.com.
