(MENAFN- EIN Presswire)
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 24, 2024 /EINPresswire / -- According to a recent report published by Allied market Research, titled,“PLM in Discrete manufacturing Market By Component, Deployment Model, Enterprise Size and industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global PLM in discrete manufacturing market size was valued at $19.94 billion in 2020, and is projected to reach $33.24 billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.
Get Research Report Sample Pages :
Discrete manufacturing is an industry term used for manufacturing of finished products that are distinct items capable of being easily counted, touched, or seen. Discrete manufacturing and PLM software is primarily designed for managing all information and processes at every step of a product or service lifecycle across globalized supply chains. This includes data from items, parts, products, documents, requirements, engineering change orders, and quality workflows. Discrete manufacturing involves production of parts and systems such as nuts and bolts, brackets, wires, assemblies, and individual products.
Furthermore, the key factor that drives the market includes increase in demand of discrete manufacturing and PLM software by various SMEs and adoption of Industrial IoT among manufacturing industries. In addition, rise in digital transformation in various industries across different developing nations positively impacts growth of the market. However, high investment and integration costs hamper the market growth.
On the contrary, surge in demand for cloud-based PLM software and emergence of smart factories and smart manufacturing across the globe is expected to offer remunerative opportunities for the expansion of the PLM in discrete manufacturing market during the forecast period.
Depending on industry vertical, the automotive & transportation segment dominated the market share in 2020, and is expected to continue this trend in the upcoming years. This is attributed to rise in adoption of cloud-based PLM software by various automotive & transportation industries to improve their business efficiency and to enhance the quality of the product. However, the high-tech & consumer electronics industry is expected to witness highest growth rate during the forecast period, owing to the need to optimize companies overall processes and to enhance performance and functioning of the organization.
Procure Complete Research Report Now : /purchase-options
Region wise, the PLM in discrete manufacturing market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to increase in adoption of advance technologies such as IoT, connected industries, telecommunication technologies (5G, LTE), additive manufacturing, and augmented reality among various industries to improve their supply chain process. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in industrial and infrastructure expansion activities in India and China.
The outbreak of COVID-19 is anticipated to have a negative impact on growth of PLM in discrete manufacturing market. This is attributed to closing of supply chain process of various manufacturing industry and reduction in logistics activities across the globe. However, various industries have started adopting PLM to entire business processes efficiently operating and under control, which can be achieved through various features of PLM software such as remote access, digital data exchange, automated reporting, and real-time work floor control. In addition, the pandemic has led to surge in demand for cloud-based PLM software among enterprises.
Key Findings Of The Study :
By component, the software segment accounted for the largest PLM in discrete manufacturing market share in 2020.
Region wise, North America generated highest revenue in 2020.
Depending on deployment, the on-premise segment generated the highest revenue in 2020.
Inquire Before Buying :
The key players profiled in the PLM in discrete manufacturing market analysis are ANSYS, Inc., Arena Solutions, Inc., Autodesk, Inc., Dassault Systèmes, Infor, Oracle Corporation, PTC Inc., SAP SE, Siemens AG, and Synopsys Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the PLM in discrete manufacturing industry.
Read More Reports :
Co-working Space Market
Storage as a Service Market
Virtual Event Platforms Market
Automation Testing Market
Surface Computing Market
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN23122024003118003196ID1109025545
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.