PLM Market in the Automotive Sector 2020 Forecasts for Global
The analysts forecast global PLM market to grow at a CAGR of 9.19% during the period 2016-2020. Many manufacturing companies need PLM software as it deals with various functional levels of an organization such as product designing, design engineering, and manufacturing. The need for managing a product from the concept to servitization has led to the emergence of PLM software and services. The growing product complexity and increase in product portfolio across organizations has led to demand for a system that can provide solutions to the production process across industries. The implementation of a PLM in an organization provides higher revenue, reduced costs, and capital efficiency.
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