Lewes, DE -- (SBWIRE) -- 05/18/2016 -- Report forecast the global cloud PLM market to grow at a CAGR of 8.79% during the period 2016-2020.

Many manufacturing companies require PLM software, as it helps deal with different functional levels of an organization such as design engineering, product designing, and manufacturing. The need for managing a product from the concept to servitization has led to the emergence of PLM software and services.

The rising product complexity and increase in product portfolio across organizations have fueled the need for a system that provides solutions to the production process across industries. The implementation of PLM in an organization provides higher revenue, reduces the cost of production, and enhances capital efficiency.

The report covers the present scenario and the growth prospects of the global cloud PLM market for 2016-2020. To calculate the market size, the report considers both direct revenue and indirect revenue of the vendors. In addition, we have only considered DM, cPDM, and CAD software.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, a key driver of market growth is the reduction in operations cost. By implementing cloud PLM software, enterprises can reduce costs in different stages of product lifecycle such as product planning, development, manufacturing, and support, enabling them to minimize the cost of products offered. By digitally creating a manufacturing plan and re-using the plan, plant information, and manufacturing process, the enterprise can further reduce their operating cost.

Further, the report states that a challenge faced by most organizations is an increasing concern for data security. This factor could hamper market growth.

Global Cloud PLM Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global cloud product lifecycle management (PLM) market: PTC, Siemens PLM, Autodesk, and Dassault Systèmes.

Other Prominent Vendors in the market are: Apparel magic, Aras, Arena, Omnify, Oracle Agile, and Infor.

Market driver
- Reduction in operations cost
- For a full, detailed list, view our report

Market challenge
- Increased concern for data security
- For a full, detailed list, view our report

Market trend
- Increased role of cloud PLM in IoT supporting devices
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 53 pages and 28 Exhibit "Global Cloud Product Lifecycle Management Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market attractiveness, Market segmentation by product, Geographical segmentation, Buying criteria, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Impact of trends, Five forces analysis, Vendor landscape, Other prominent vendors, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-cloud-product-lifecycle-management-market-2016-2020

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