PLM (Global Market)

2024: Global PLM Systems Market Exceeds $72.86 Billion for the Year

According to the results of 2024, the costs in the global market of product lifecycle management systems () PLM amounted to more than $72.86 billion. Over a third of global spending is in the North American region. Industry trends are addressed in the Market Growth Reports survey published on June 9, 2025.

PLM platforms are designed to manage the entire product lifecycle, from implementation to decommissioning. These systems allow companies to manage data, processes, business systems, and people associated with manufacturing. PLM delivers benefits such as faster product launches, improved quality, reduced waste, reduced costs, and centralized management of all product-related documents and data. In addition, PLM systems provide effective collaboration between the various departments and stakeholders involved in the product lifecycle.

One of the drivers of the analytics market is the increase in product complexity: modern high-tech products can include a large number of different electronic components, as well as heterogeneous software. PLM tools are required to manage design and configuration changes reliably. In 2024, more than 72% of large manufacturing companies reported using PLM systems to manage engineering processes and data on their products. At the same time, over 45% of enterprises have implemented PLM platforms in order to reduce time to market.

PLM is integrated with enterprise systems such as ERP (Enterprise Resource Planning), MES (Process Management), and CRM (Customer Relationship Management). About 56% of PLM implementations in 2024 included integration with at least one enterprise platform. This approach allows companies to establish an uninterrupted exchange of information about all transactions related to the release and supply of products.

Artificial intelligence and machine learning play an important role in improving PLM functionality. As of 2024, more than 22% of PLM platforms included predictive analytics and intelligent automation features. AI-based PLM systems help optimize products, predict defects, and make decisions based on historical manufacturing data.

In 2024, nearly 38% of all PLM implementations were cloud-based, up from 27% in 2021. Cloud platforms provide flexibility, scalability, and economic benefits. In addition, the interaction of geographically distributed teams of employees is simplified.

At the same time, analysts point to restraining factors. Enterprises often rely on legacy software solutions that are incompatible with today's PLM platforms. In 2024, 36% of companies reported integration issues during PLM deployment. In addition, PLM systems require significant initial investment, especially when implemented locally.

Geographically, North America led in 2024 with a share of about 34%. Next comes Europe with 28%, and the Asia-Pacific region closes the top three with 24%. Globally, significant players are named:

• Autodesk;
• Oracle;
• Aras;
• PTC;
• SAP;
• Arena PLM;
• Hewlett-Packard;
• Accenture;
• Siemens;
• Dassault Systems;
• IBM.

Market Growth Reports analysts believe that in the future, the compound percentage CAGR in the market under consideration will be 6.8%. Thus, by 2033, costs could increase to $131.95 billion.^[1]

2023: Cloud PLM market growth by 19% to $42.3 billion

At the end of 2023, costs in the global cloud market for product lifecycle management (PLM) systems reached $42.3 billion. The indicator of the previous year, when expenses in this area were estimated at $35.6 billion, was exceeded by about 19%. This is stated in the Market Research Future study, the results of which are presented in mid-November 2024.

One of the drivers of the industry in question was the COVID-19 pandemic. Quarantine restrictions have led to increased adoption of cloud technologies by enterprises to support remote work and optimize operations. The pandemic has disrupted supply chains and triggered shortages of certain components. This has forced many organizations to accelerate digital transformation. As a result, the demand for cloud PLM systems has significantly increased. PLM software provides a centralized platform for seamless team collaboration - regardless of geographic location.

The market is expanding as a result of the growing demand for product lifecycle management solutions among small and medium-sized businesses in various industrial verticals: the implementation of PLM helps reduce costs and improve efficiency in general. In addition, integration of solutions Internet of Things () IoT and PLM enables real-time performance and quality management. The market is also being driven by the adoption of artificial intelligence technologies that enable the expansion of PLM platform functionality.

The concept of digital twins has a positive impact on the industry - these are improved virtual representations of physical products and assets. Using digital twins in PLM systems, enterprises can perform advanced analytics, gain valuable insights, and conduct detailed modeling. In general, the benefits of cloud PLM solutions are scalability, flexibility, and cost-effectiveness. Among the leaders of the world market are named:

• Dassault Systems;
• Arena Solutions;
• Siemens;
• Oracle;
• SAP;
• Autodesk;
• Aras;
• Infor;
• Accenture PLC.

Analysts segment the industry into software and services. The first of these areas provides the largest revenue. In terms of application, the aerospace and defense industries, healthcare and life sciences, retail and consumer goods, power and utilities, industrial engineering and heavy equipment, telecommunications and IT, automotive and transport, semiconductors and electronics, etc. The automotive and transportation segment dominates the global cloud PLM solutions market.

Geographically, North America is leading the way with active investments in advanced solutions such as IoT, additive manufacturing, modern communication technologies, etc. Significant growth is also seen in Europe and the Asia-Pacific region. Leading companies are investing heavily in R&D to expand their product mix. This creates a need for cloud PLM systems.

At the end of 2024, revenue in the market under consideration is estimated at $44.7 billion. Market Research Future analysts believe that in the future, the CAGR will be 17%. As a result, by 2032, costs on a global scale could increase to $149.7 billion. Companies around the world continue to move workloads to the cloud, which will ensure a steady positive trend in PLM.^[2]

2012

According to the analytical company CIMdata, in 2011 there was an active rise in the field of PLM, which continued in the first half of 2012, but slowed down slightly in the second, especially in the segment of mechanical product design automation (MCAD), one of the largest in the field of PLM, as a result of which this was reflected in the market as a whole. Nevertheless, in 2012, sales of PLM products increased by 11.6% and reached $33.4 billion. The segment of products for modeling and analysis (S&A) of^[3] the fastest growing^[4].

Analysts suggest that the rise will continue in 2013, but will slow down slightly compared to 2012. According to the CIMdata forecast, within five years the PLM market will grow annually by 8.7% and by 2017 will reach $50.7 billion (see figure).

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