CIMdata Publishes 2023 PLM Market and Solution Provider Analysis Report

ANN ARBOR, MI, USA, Aug 11, 2023 – CIMdata, Inc., the leading global PLM strategic management consulting and research firm, announces the release of the CIMdata PLM Market and Solution Provider Analysis Report, the third of five modules of the CIMdata 2023 Market Analysis Report Series. The MAR Series provides detailed information and in-depth analysis of the worldwide PLM market during 2022. It contains analyses of major trends and issues; revenues of leading PLM solution providers; and revenue analyses for geographical regions, industry sectors, and historical and projected data on market growth.

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“The PLM market grew to US$66.6 billion overall in 2022, 10% growth over 2021, just under our forecast of 10.1%,” said Mr. Stan Przybylinski, CIMdata’s Vice President. “Electronic Design Automation (EDA) saw strong double-digit gains, driven by market leaders Synopsys, Cadence, and Siemens Mentor. Other Tools, our segment that includes tools to develop product software, contracted 15%, but that was due to CIMdata’s decision to include Internet of Things (IoT) and low-code/no-code development offerings in the comprehensive collaborative Product Definition management (cPDm) revenue estimates for market leaders PTC and Siemens. Others who built IoT and low-code/no-code capabilities into their product innovation platforms get to include those revenues, so it made sense to let others do the same. As a result, the comprehensive cPDm segment grew by 20% year-on-year.” Results were also impacted by major exchange rate changes in 2022, particularly the Euro (down 11.1% against the US dollar) and the Japanese Yen (down 16.5%).

CIMdata expects continued market growth because the underlying trends to smart, connected products and Industry 4.0 have only strengthened since the pandemic. But the global economic issues in 2023 could impact these results. CIMdata forecasts the PLM market to grow 9.5% in 2023. In 2027, CIMdata forecasts the PLM market to grow at a compound annual growth rate (CAGR) of 10% to just over US$107.2 billion.”

Companies make PLM investments in many different areas and with many types of solutions, including mechanical CAD, simulation and analysis, visualization and collaboration, building design, and others. This diversity is reflected in the different solution providers to the PLM market and in the fact that no single type of provider dominates the industry. During 2022, a number of providers generated substantial revenues that represent PLM-related investments. Twenty-four providers generated PLM revenues in excess of US$500 million from both the tools and the cPDm segments, up from nineteen last year. Three solution providers, Dassault Systèmes, PTC, and Siemens Digital Industries Software, are major providers of both tools (such as MCAD) and cPDm technology, while others, such as Autodesk and Cadence, are primarily tool providers that focus on specific segments within the overall market. While Hexagon does not position itself as a PLM company, its revenues from businesses that CIMdata does count in PLM puts them in the top 10. It illustrates the breadth of companies that participate in the overall PLM market, even though they may not all compete directly with each other.

This report is the third of five modules of the CIMdata 2023 Market Analysis Report Series to be released. The MAR Series provides detailed information and an in-depth analysis of the worldwide PLM market during calendar year 2022. It contains analyses of major trends and issues; revenues of leading PLM providers; and revenue analyses for geographical regions, industry sectors, and historical and projected data on market growth.

The CIMdata PLM Market Analysis Report Series comprises five modules:

1. The CIMdata 2023 Executive PLM Market Report provides an overview of CIMdata’s complete global analysis. It includes key charts on PLM market investment statistics through 2022, forecasts of investments for 2023 through 2027, and a summary of PLM solution providers’ performance in 2021.
2. The CIMdata 2023 PLM Industry Review and Trends Report is mainly qualitative and focuses on key issues facing the global PLM Ecosystem of solution providers and end user organizations. It highlights changes that occurred in 2022, what affects those changes may have in the short and medium terms, and what is on the horizon in the years to come.
3. The CIMdata 2023 PLM Market and Solution Provider Analysis Report details measures of and forecasts for the overall PLM market and its key segments in 2021, including Tools, cPDm, and Digital Manufacturing. The Tools section has additional details on sub-segments, including MCAD, NC, S&A, EDA, and AEC. It also includes CIMdata’s estimates of PLM solution provider revenues in these segments and sub-segments for 2023 through 2027.
4. The CIMdata 2023 PLM Market Geographic Analysis Report provides an additional view of the 2022 market results, by major geography. CIMdata’s 2022 estimates and market forecasts for PLM and the major PLM market segments are provided for the Americas, EMEA, and Asia-Pacific. In addition, the report includes estimates and forecasts for the cPDm segment within specific European and Asia-Pacific countries and regions.
5. The CIMdata 2023 PLM Market Industry Analysis Report provides an industry segmentation view of the 2022 market results. CIMdata’s 2022 estimates and market forecasts for PLM and cPDm are provided for ten industry sectors: aerospace and defense, automotive and other transportation, electronics/telecommunications, fabrication and assembly, process-packaged goods, process—petrochemical, utilities, construction, infrastructure, and shipbuilding.

The CIMdata PLM Market Analysis Report Series is available as a five-module set or each module can be purchased separately. Selected modules are also available as part of the CIMdata Community Memberships. Further details and pricing information about the report and Community Memberships are available at www.cimdata.com.

About CIMdata

CIMdata, an independent worldwide firm, provides strategic management consulting to maximize an enterprise’s ability to design, deliver, and support innovative products and services by identifying and implementing appropriate digital initiatives. For forty years, CIMdata has provided industrial organizations and providers of technologies and services with world-class knowledge, expertise, and best-practice methods on a broad set of product lifecycle management (PLM) solutions and the digital transformation they enable. CIMdata also offers research, subscription services, publications, and education through certificate programs and international conferences. To learn more, visit www.CIMdata.com or email info@CIMdata.com.

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Editor and Director of Content, DailyCADCAM.com. Nitin completed his Master’s in Mass Communication & Journalism and having 13 years of work experience as an editor, content writer with renowned international technical magazines and media companies. He is associated with CAD,CAM industry since 2008.

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