Product Lifecycle Management Market (By Software: Portfolio Management, Design & Engineering Management, Quality & Compliance Management, Manufacturing Operations Management, Others; By Deployment: On-premise and Cloud; By End Use: Aerospace & Defense, Automotive & Transportation, Healthcare, Information Technology& Telecom, Industrial Equipment & Heavy Machinery, Retail, Semiconductor & Electronics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030

The global product lifecycle management market was estimated at US$ 61.57 billion in 2021 and is expected to hit around US$ 120.38 billion by 2030, poised to grow at a CAGR of 7.7% during the forecast period 2022 to 2030.

Growth Factors:

The major factors expected to drive the growth include a rising focus on developing smart products and factories and the increasing demand for cloud-based product lifecycle management (PLM) solutions for secure IT infrastructure. The outbreak of the COVID-19 pandemic has prompted businesses to adopt cloud technology to facilitate remote working and ensure business continuity. In addition, several organizations have opted for remote working and deployed cloud-based solutions, which has surged the demand for PLM solutions. The pandemic had a positive impact on the growth of the market due to the high adoption of cloud-based solutions across various organizations.

Product lifecycle management envisages systematic management of information through the entire lifecycle of the product in real-time. The information typically includes production and product design, development, and delivery process. The product lifecycle processes continuously evolve with variables such as functions, time, price, and performance. As a result, product innovation is flexible to match the new market requirements which have become extremely important owing to these continuously changing variables. These product lifecycle management solutions can help achieve low operational costs and time efficiency while encouraging innovations in business operations. These benefits are expected to impact the market growth positively over the forecast period.

The increasing demand for product lifecycle management solutions in small and medium enterprises across various industry verticals to optimize manufacturing costs is fostering the growth of the market. Companies need to find ways to invest to maximize their business profit potential throughout their life cycle.  However, concerns over data security and other factors such as integration and costs of implementation are expected to restrain the growth of the market over the forecast period. Technological trends such as additive manufacturing and engineering and Augmented Reality (AR) are predicted to drive the market during the forecast period. These technologies are expected to encourage companies to enable their PLM solutions with new capabilities, which are projected to extend the demand.

Report Scope of the Product Lifecycle Management Market

Report Coverage


Market Size

USD 120.38 Billion by 2030

Growth Rate

CAGR of 7.7% from 2021 to 2030

Base Year


Largest Market

North America

Fastest Growing Market

Asia Pacific

Forecast Period

2022 to 2030

Segments Covered

Software, Deployment, End User, Region

Companies Mentioned

Siemens AG, TCS, Dassault Systems, IBM Corporation, Arena, Propel, FusePLM, Inflectra, SAP SE, Autodesk Inc.

Currently, an outsized number of commercial enterprises are instrumental in completing digital transformation initiatives or developing their roadmap towards digitalization. One of the significant developments includes the integration of the Internet of Things (IoT) with PLM solutions. This integration has amplified the capabilities of product lifecycle management solutions, which has enabled real-time performance and quality management post-manufacturing. IoT sensors embedded in smart products and systems generate a vast set of actionable data, such as insights regarding the early signs of failure of a particular part in the product.

Technological advancements such as the Industrial Internet of Things (IIoT), virtual reality, augmented reality, and additive manufacturing, are anticipated to boost the growth of the product lifecycle management market. The key market players, such as PTC Inc. and Siemens are focused on integrating these technologies to strengthen their position in the market. For instance, in February 2021, Siemens launched AssistAR 3.0, which supports assembly, inspection, and maintenance procedures with a new generation of accurate and robust augmented reality (AR) technologies. It connects to the company’s PLM system and uses regular PCs and displays to guide company operators through complex operations without the use of glasses or a headset.

Software Insights

The design and engineering management segment captured a market share of over 30% in 2021. Product life cycle management software allows a company to manage information through the entire lifecycle of a product efficiently and cost-effectively. It includes processes from design, manufacture, and disposal of the product in various applications, such as retail, IT & telecom, and automotive, among others. Moreover, the lean and collaborative product development approaches, such as business strategy, work process, and collection of software applications, are pursued progressively by businesses which are the core of product lifecycle management. As such, product lifecycle management software is being extensively used by manufacturing units to manage the designing, development, and engineering processes in the wake of the continued industrial digitization, rollout of connected value chains, and adoption of Industry 4.0.

The simulation, testing, and change management segment are expected to register a significant CAGR of 9.7% over the forecast period. The simulation and test management solutions enable organizations to improve product performance, drive and increase simulation use throughout the product lifecycle.

Deployment Insights

The cloud segment held the largest revenue share of over 70% in 2021. Cloud deployment has become the foremost preferred way for the deployment of the PLM and is expected to maintain its dominance over the forecast period. Cloud-based product lifecycle management solutions help eliminate key challenges related to implementation, upgrades, and customization. Benefits such as scalability, flexibility, security, and control over data are some of the major factors that are expected to boost the adoption of cloud-based deployment of product life cycle management software. Moreover, the technology industry experts emphasize that approximately 60% of workloads are executed on hosted cloud services.

The on-premise segment is expected to expand at a significant CAGR of 7.5% over the forecast period. On-premises solutions help the organizations gain a detailed understanding of the trends, challenges, and development in the market and also help to apply effective and efficient marketing and manufacturing decisions by integrating advanced technologies such as the Internet of Things (IoT) and big data. These solutions also allow organizations to reduce their dependency on the internet infrastructure and protect their data from online fraud and potential losses. Such benefits are anticipated to encourage organizations, especially large organizations, to opt for on-premise deployment.

End-use Insights

The automotive & transportation segment held the dominant revenue share of over 20% in 2021. The increasing use of digital manufacturing and rising integration of IoT in producing smart automobiles are the key trends expected to drive the growth of the market in the automotive sector. For instance, Siemens PLM software offers a full set of smart vehicle solutions for all key technical domains, from chip design to full vehicle validation. The adoption of PLM helps minimize shipment errors, resulting in low product damage, on-time orders, high productivity, better alignment with customer requirements, and complete regulatory compliance. These factors are anticipated to drive the adoption of product lifecycle management software by the incumbents of the automotive & transportation industries.

The aerospace & defense segment is anticipated to register a significant CAGR of 8.1% over the forecast period. The requirement for product lifecycle management solutions in the defense and aerospace sector is determined by budget reduction, rising global competition, and mounting backlog in commercial aircraft delivery and production. The growing demand for lifecycle management solutions from military aerospace & defense companies can be attributed to the evolving need for technologically-advanced solutions that can potentially streamline the core operations. These solutions include IoT, AI-based solutions, and other automation solutions to manage critical activities. Moreover, some of the major lifecycle management solution providers, such as Siemens provide a wide range of technological solutions to cater to the requirements of small and large-scale companies operating in the military aerospace & defense industry.

Regional Insights

North America accounted for the major revenue share of over 35% in 2021. The region’s strong financial position enables it to invest heavily in advanced solutions, such as IoT, connected industries, telecommunication technologies (5G, LTE), additive manufacturing, and augmented reality providing a competitive edge in the market. Moreover, large enterprises are increasingly upgrading their product lifecycle management solutions in line with the evolving technology trends in their companies to aid customer-centric product development. For instance, in March 2020, IBM launched a new version of the Engineering Lifecycle Management (ELM) solution, ELM 7.0, to scale the engineering operations and handle more complex projects. The solution will use AI to uncover valuable, real-time insights across engineering data.

The Asia Pacific regional market is expected to witness a significant CAGR of 10.2% over the forecast period. With the exploding digitalization and industrialization in emerging nations such as India and China, the demand for PLM would increase in the region. The region has several large enterprises operating across diverse industries, including electronics, automotive, and telecommunications, which are focusing on transforming their respective processes engineering and product development functions and are aggressively deploying product lifecycle management tools as a part of their growth strategies.

 Some of the prominent players in the Product Lifecycle Management Market include:

  • Siemens AG
  • TCS
  • Dassault Systems
  • IBM Corporation
  • Arena
  • Propel
  • FusePLM
  • Inflectra
  • SAP SE
  • Autodesk Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Software

  • Portfolio Management
  • Design & Engineering Management
  • Quality & Compliance Management
  • Simulation, Testing & Change Management
  • Manufacturing Operations Management
  • Others

By Deployment

  • On-premise
  • Cloud

By End Use

  • Aerospace & Defense
  • Automotive & Transportation
  • Healthcare
  • IT & Telecom
  • Industrial Equipment & Heavy Machinery
  • Retail
  • Semiconductor & Electronics
  • Others

By Service

  • Professional Services
    • Deployment and Integration
    • Consulting
    • Support and Maintenance
  • Managed Services

By Organization size

  • Small and Medium-sized Enterprises (SMEs)
  • Large enterprises

By Geography

North America

  • U.S.
  • Canada


  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Product Lifecycle Management Market Study:

  • Growth of Product Lifecycle Management in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Product Lifecycle Management and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Product Lifecycle Management Consumption Analysis
  •  Product Lifecycle Management Production Analysis
  •  Product Lifecycle Management and Management