Rising need for cloud adoption and increasing demand for strategic business processes along with lower upfront costs and reduced time-to-market have led to the increased demand for cloud-based Product Lifecycle management (PLM). Cloud-based PLM providers offer various applications and solutions such as portfolio management, product data management, collaborative design & engineering, customer management, compliance management and others. Dassault Systemes, Siemens AG, PTC Inc., Oracle Corporation, SAP SE, and Autodesk Inc. are some of the key players in the market. New product development is the most important strategy adopted by the market players that has enabled the companies to expand their existing product portfolio and increase market penetration. Moreover, the companies are entering into various partnerships and acquisitions to increase their sales and customer base.
Dassault Systemes is a dominant player in the cloud-based PLM market. The core competence of Dassault Systemes is to spread its expertise in various industry verticals and increase overall business standards. Acquisition is the key business strategy adopted by the company to maintain its position in the market. In July 2016, it acquired Computer Simulation Technology (CST) AG, a technology leader in Electromagnetic (EM) and electronics simulation. This acquisition would facilitate EM simulation on Dassaultís 3DEXPERIENCE platform. It would also complement the companyís current cloud PLM offerings and enhance industry standards. In April 2015, Dassault Systemes acquired Modelon GmbH to add expertise in modeling and simulation. It would also increase the efficiency of PLM process. This acquisition would help the company strengthen its footprint in transportation and automobile industry.
Siemens AG is another key market player catering to the cloud-based PLM market. The companyís core business strategy is new product launches whereas it also actively incorporates other strategies, such as partnerships and acquisitions. The company focuses on developing innovative technologies and expanding its presence in new regions to capture more market share and maintain its global competitive position. Siemens AG periodically updates its PLM offerings with the latest technology to simplify usage and retain its customers. In June 2016, it launched the new cloud-based software Simcenter, a simulation software and test solution, to help companies solve the modern engineering challenges related to complex products. This software can be used both as Platform as a Service (PaaS) and Software as a Service (SaaS) model. Similarly, in February 2016, the company partnered with IBM Corporation to provide next generation cloud-based building energy management solutions. This development signifies the approach to improve the current cloud capabilities offered.
Cloud-Based PLM Market by Application (Portfolio Management, Product Data Management, Collaborative Design and Engineering, Customer Management, Compliance Management), Organization Size, Vertical, and Region - Global Forecast to 2021
Markets and Markets
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