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PLM: An Update on the 2009 PLM Market
The economy has been bad, and that is reflected in an update of CIMdata’s forecast for the PLM industry. Companies are investing less in PLM infrastructure than expected, and that has resulted in a revision downward of their expectations. In March CIMdata released a five year estimate of the PLM market to grow at 6.3% CAGR over the next five years and ultimately reach $36 billion in revenue.
Now, less than six months later, CIMdata is releasing their revised forecast. Instead of 3.8% growth for 2009, they are forecasting that there will be a 2.1% decline. They expect the market to stabililze in late 2009 and early 2010. CIMdata’s five year forecast is also brought down, now predicting a 3.5% CAGR, reaching $31 billion in 2013.
In the short term, companies are looking to PLM to help improve operational efficiencies. The report says that “Even as these short-term priorities dominate the current market, long-term strategies still continue at many companies that are focusing on using PLM to best position themselves competitively for when the world emerges from the current economic chaos.”
Longer term, the report says companies are looking to PLM to “harmonizing global processes, managing the increased complexity of products and value chains, effectively managing the growing range of compliance issues, and improving competitiveness and pricing structures by improving product quality and lowering costs.”
