SOURCE RESEARCH
4Q 2024 |
Get The ReportThe total Product Lifecycle Management (PLM) market size will reach US$8.6 billion in 2025 and will expand to US$26.7 billion by 2035. Large manufacturers will remain the biggest spenders on PLM software, although Small and Medium Enterprises (SMEs) are ramping up their own investments at a faster rate.
Large enterprise collaboration with PLM software companies will increase, spurring higher revenues as the Average Selling Price (ASP) increases and new technological features are added, such as immersive viewing and generative AI.
Additionally, large enterprises will spend more on PLM systems as key features such as restricted access viewing when working with contract manufacturers relieve a pain point for large manufacturers that can not share sensitive product information. Although large enterprises will still be the dominant spender on PLM software at , SMEs are catching up with a CAGR of 10 percentage points higher than that of large enterprises. By 2035, SMEs will account for 46% of the PLM spending, up from 26% in 2025.