{"id":5789,"date":"2015-11-03T07:00:32","date_gmt":"2015-11-03T15:00:32","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=5789"},"modified":"2015-09-20T16:32:02","modified_gmt":"2015-09-21T00:32:02","slug":"three-trends-transforming-plm-cloud-mobile-iot","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/three-trends-transforming-plm-cloud-mobile-iot\/","title":{"rendered":"Three Trends Transforming PLM: Cloud, Mobile, IoT"},"content":{"rendered":"

Product Lifecycle Management (PLM)<\/a> is the process of managing the lifecycle of a product from initial idea, through engineering design and manufacture, to in-field usage and maintenance, and final to disposal and\/or destruction. \u00a0PLM has traditionally been used in markets that create very complex products, like automotive and transportation, but it is increasingly used in industries like consumer goods. energy. AEC and shipbuilding.<\/p>\n

Transparency Market Research (TMR) estimates<\/a> the PLM market to grow about 8 percent annually, reaching $76 billion\u00a0in 2022. \u00a0Growth in the sector is fueled by product innovation, increased productivity, and reduction in operational costs. \u00a0The market is fairly evenly split between services (56 percent) and software (44 percent). \u00a0Cloud-based PLM solutions are growing rapidly. \u00a0Small and medium sized companies in particular are adopting cloud-based PLM applications that previously had been beyond their budget reach.<\/p>\n

Stan Przybylinski<\/a>, Vice President of Research for CIMdata<\/a>, was quoted in\u00a0an Oracle blog<\/a> as identifying three \u00a0IT trends that are reshaping the nature of PLM:<\/p>\n