CIMdata Publishes 2024 Executive PLM Market Report

ANN ARBOR, MI, USA, Jul 24, 2024 – CIMdata, Inc., the leading global PLM strategic management consulting and research firm, announces the release of the CIMdata 2024 Executive PLM Market Report. This report provides an executive-level view of CIMdata’s comprehensive analysis of the PLM market, with summary charts on the overall market and on specific PLM solution segments (including the chart below). It also includes perspectives on current trends in the PLM industry and how they may affect current suppliers and investments.

As measured in our PLM market analysis, the PLM Economy has continued to grow in 2023. In calendar year 2023, the PLM market grew to just over $72.6 billion (9% growth over 2022). “The PLM market saw strong results in 2023,” according to Christine Longwell, CIMdata’s Director of Research. “As customers develop increasingly complex products, technologies enabling the cooperative design of mechanical, electrical, and software systems are growing rapidly. Supporting this, the Electronic Design Automation (EDA) and Simulation and Analysis (S&A) sectors grew at 12.8% and 8.7%, respectively. As PLM technologies continue to move to the cloud, we still see a healthy market for systems integrators supporting implementation, migration, and integration, helping companies build a more robust and interconnected digital backbone. The services market for systems integrators and value-added resellers grew at 7.2%. Comprehensive cPDm grew at 8.9%, helped by some nontraditional industries such as retailers and medical research adopting technologies that historically serviced complex products such as aerospace and automotive.”

This report is the first of five modules of the CIMdata 2024 Market Analysis Report Series to be released. The MAR Series provides detailed information and in-depth analysis of the worldwide PLM market for the calendar year 2023. It contains analyses of major trends and issues, revenues of leading PLM providers, revenue analyses for geographical regions and industry sectors, and historical and projected data on market growth.

The CIMdata PLM Market Analysis Report Series is packaged into five modules:

1. The CIMdata 2024 Executive PLM Market Report provides an overview of CIMdata’s complete global analysis. It includes key charts on PLM market investment statistics through 2023, forecasts of investments for 2024 through 2028, and a summary of PLM solution providers’ performance in 2023.
2. The CIMdata 2024 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 2023, what impacts those changes may have in the short and medium terms, and what is on the horizon in the coming years.
3. The CIMdata 2024 PLM Market and Solution Provider Analysis Report details measures of and forecasts for the overall PLM market and its key segments in 2023, including Tools, cPDm, and Digital Manufacturing. The Tools section details 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 2024 through 2028.
4. The CIMdata 2024 PLM Market Geographic Analysis Report provides an additional view of the 2023 market results by major geography. CIMdata’s 2023 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 2024 PLM Market Industry Analysis Report provides an industry segmentation view of the 2023 market results. CIMdata’s 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.

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Nitin Patil

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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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