PLM in Discrete Manufacturing Market Growth : From $19.94 Billion in 2020 to $33.24 Billion by 2028

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 24, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “PLM in Discrete Manufacturing Market By Component, Deployment Model, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global PLM in discrete manufacturing market size was valued at $19.94 billion in 2020, and is projected to reach $33.24 billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/4125

Discrete manufacturing is an industry term used for manufacturing of finished products that are distinct items capable of being easily counted, touched, or seen. Discrete manufacturing and PLM software is primarily designed for managing all information and processes at every step of a product or service lifecycle across globalized supply chains. This includes data from items, parts, products, documents, requirements, engineering change orders, and quality workflows. Discrete manufacturing involves production of parts and systems such as nuts and bolts, brackets, wires, assemblies, and individual products.

Furthermore, the key factor that drives the market includes increase in demand of discrete manufacturing and PLM software by various SMEs and adoption of Industrial IoT among manufacturing industries. In addition, rise in digital transformation in various industries across different developing nations positively impacts growth of the market. However, high investment and integration costs hamper the market growth.

On the contrary, surge in demand for cloud-based PLM software and emergence of smart factories and smart manufacturing across the globe is expected to offer remunerative opportunities for the expansion of the PLM in discrete manufacturing market during the forecast period.

Depending on industry vertical, the automotive & transportation segment dominated the market share in 2020, and is expected to continue this trend in the upcoming years. This is attributed to rise in adoption of cloud-based PLM software by various automotive & transportation industries to improve their business efficiency and to enhance the quality of the product. However, the high-tech & consumer electronics industry is expected to witness highest growth rate during the forecast period, owing to the need to optimize companies overall processes and to enhance performance and functioning of the organization.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/discrete-manufacturing-and-plm-market/purchase-options

Region wise, the PLM in discrete manufacturing market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to increase in adoption of advance technologies such as IoT, connected industries, telecommunication technologies (5G, LTE), additive manufacturing, and augmented reality among various industries to improve their supply chain process. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in industrial and infrastructure expansion activities in India and China.

The outbreak of COVID-19 is anticipated to have a negative impact on growth of PLM in discrete manufacturing market. This is attributed to closing of supply chain process of various manufacturing industry and reduction in logistics activities across the globe. However, various industries have started adopting PLM to entire business processes efficiently operating and under control, which can be achieved through various features of PLM software such as remote access, digital data exchange, automated reporting, and real-time work floor control. In addition, the pandemic has led to surge in demand for cloud-based PLM software among enterprises.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By component, the software segment accounted for the largest PLM in discrete manufacturing market share in 2020.

Region wise, North America generated highest revenue in 2020.

Depending on deployment, the on-premise segment generated the highest revenue in 2020.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/4125

The key players profiled in the PLM in discrete manufacturing market analysis are ANSYS, Inc., Arena Solutions, Inc., Autodesk, Inc., Dassault Systèmes, Infor, Oracle Corporation, PTC Inc., SAP SE, Siemens AG, and Synopsys Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the PLM in discrete manufacturing industry.

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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