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PLM: Small Businesses Adopt Cloud-Based PLM to Improve Design and Resource Utilization
Product Lifecycle Management (PLM) is the management of the entire lifecycle of a product from initial concept development through design, manufacture, service, maintenance, and ultimate disposal. PLM is a very focused and dominated by a handful of large software vendors.
PLM “Mindshare Leaders”, ranked by annual revenues, were recently identified by CIMdata. PLM revenues include both software and services and cover capabilities like CAD, simulation tools, PDM solutions, engineering databases and digital manufacturing. The list of top PLM vendors is as follows:
- Dassault Systèmes ($3.113 billion)
- Siemens PLM ($2.31 billion)
- Autodesk ($2.3 billion)
- PTC ($1.27 billion)
- SAP PLM ($1.122 billion)
- Oracle PLM ($619 million)
Industries that spend the most on PLM include automotive, transportation, fabrication & assembly, electronics and telecommunications, and aerospace and defense.
Like nearly every category of software, PLM is also transitioning to the cloud. A report by RNMarketResearch estimates that cloud-based PLM will grow 16.8 percent annually over the 2016 to 2021 timeframe. The initial businesses using cloud-based PLM are primarily small and medium sized businesses that are trying to improve their design and resource utilization capabilities.
