PLM In Discrete Manufacturing Market Size Projected To Reach $33.24 Billion By 2028: INFOR, ANSYS INC

(MENAFN- EIN Presswire)

plm-in-discrete-manufacturing-market-size

Rising demand for discrete manufacturing, PLM software by SMEs, and increased Industrial IoT adoption drive global market growth.

WILMINGTON, DE, UNITED STATES, January 14, 2025 /EINPresswire / -- According to a recent report published by Allied Market Research, 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.

Discrete manufacturing is an industry term used for the 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 the production of parts and systems such as nuts and bolts, brackets, wires, assemblies, and individual products.

Download Sample Report (Get Full Insights in PDF - 387 Pages) at:

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.

Buy Now & Get Exclusive Discount on this Report: /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.

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.

Inquiry Before Buying:

Key Findings Of The Study

1. By component, the software segment accounted for the largest PLM in discrete manufacturing market share in 2020.

2. Region-wise, North America generated highest revenue in 2020.

3. Depending on deployment, the on-premise segment generated the highest revenue in 2020.

If you have any special requirements, Request customization:

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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 in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
...

David Correa
Allied Market Research
email us here
+1 800-792-5285
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.

MENAFN14012025003118003196ID1109088235