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Market Overview of Global Product Data Management Software market:
According to our latest research, the global Product Data Management Software market looks promising in the next 5 years. As of 2022, the global Product Data Management Software market was estimated at USD 2578.41 million, and it's anticipated to reach USD 4149.27 million in 2028, with a CAGR of 8.25% during the forecast years.
Product Data Management (PDM) is the use of software to manage product data and process related information in a single central system. This information includes computer-aided design data, models, part information, manufacturing instructions, requirements, notes, and documentation. PDM is a part of product lifecycle management and configuration management, mainly used by engineers, operations managers, salespeople, marketers, etc. PDM software can help manufacturers and retailers build effective digital ecosystems, improve management data and automate workflow levels.
Influence of COVID-19 Outbreak on Product Data Management Software Industry Development
The COVID-19 pandemic has had a severe negative impact on the global economy. The global economy contracted by 3.5% in 2020, according to the International Monetary Fund. At the same time, the pandemic has triggered health and fiscal obligations at unprecedented speed and scale. Globally, fiscal support in 2020 will amount to almost $16 trillion (about 15% of global GDP). Central banks in many countries have slashed interest rates. In theory, this would lower borrowing costs and encourage consumers to boost the economy. In 2021, as countries began to reopen and vaccines came out, the global economy began to recover, but it was still below the level of development before the epidemic, and there were imbalances between countries and regions.
The COVID-19 pandemic will exacerbate poverty and inequality. The pandemic, which has largely destroyed low-skilled and low-wage jobs while leaving high-skilled jobs to a lesser extent, will exacerbate income inequality both within and between countries. The devaluation of human capital among recent graduates has wider societal implications for lost ideas, innovation, and dynamism. The COVID-19 pandemic has impacted different sectors and industries differently. The tourism and hospitality industries have been severely disrupted, with airlines cutting flights and customers canceling business trips and holidays. Large numbers of workers are placed on government-backed job retention schemes. New virus variants have forced many countries to impose stricter travel restrictions. Large economies that have been hit hard by the outbreak, such as Britain or Italy, rely on services and are expected to recover slowly. On the other hand, e-commerce is booming as more people choose to purchase goods online, retailers are forced to close stores, and consumers are forced to stay at home. For example, Amazon's net sales revenue set new records in both 2020 and 2021.
Advantages of PDM software
The core functions of PDM include integration, security, collaboration, accountability, and assistance. Components of PDM include CAD management systems, engineering change requests, external collaboration, remote access, compliance and privacy, and more. PDM software has many advantages. First, PDM software makes engineering data easily accessible, allowing engineering teams to easily share files, communicate, and collaborate. Project managers, engineers, salespeople, buyers, and quality assurance teams all benefit from the knowledge management and reporting capabilities of a PDM system. Having a single source of truth for data keeps everyone on the same page, increasing agility, responsiveness, and creativity. Second, effective product data management reduces product development, waste, errors, and post-sales costs. Businesses also use PDM software to leverage existing resources to improve product development processes, increase productivity and shorten cycle times. Most manufacturers use services such as shared drives, FTP, or Dropbox to store and share data. Some use email only. They lack proper metadata structure, quickly become clogged with duplication and multiple versions, and are not secure. The security components of PDM software can make the enterprise's intellectual property get the most complete protection, including role management, access rights, security folders, and so on. In addition, companies need to consider regulatory requirements when developing products. This applies to testing products, obtaining certification, and approval that the final product is ready for the market. PDM software helps create products by retaining important information, and it also keeps businesses aware of regulatory standards. Hence, with increasing awareness of the benefits of PDM software, rising demand for centralized product data management solutions, and the need to facilitate collaboration among production teams across the globe, different industries are expected to create a growing market for PDM software providers' income opportunities.
Increased applications in the automotive and transportation industry
The growing popularity of digital manufacturing and the increasing integration of the Internet of Things in the production of smart cars are the main trends for future growth in the automotive industry. Developers working on autonomous vehicles are reevaluating production and operating processes as autonomous vehicles become more common. A fully functional self-driving system requires some of the most complex software to combine various data, such as information from sensors, traffic data from the cloud, and data from other vehicles or infrastructure, and tie it all into the vehicle's electronics and Mechanical components to create a network of in-vehicle systems. All of these systems need to work together reliably without user input or corrections. PDM software can maximize the value and return of automotive industry solutions under one easy-to-use interface, including requirements management, project management, component engineering, advanced product quality planning, process planning, and technical documentation. The adoption of PDM software helps automakers manage multiple complex bills of materials while supporting global manufacturing and supply chains and minimizing shipping errors. For example, Siemens and Minerva have launched a full set of smart car PDM solutions to meet the challenges of today's fast-paced environment in the global automotive industry. Hence, there is an increasing demand for PDM software in the automotive and transportation industry.
Disadvantages of PDM software
PDM software also has some disadvantages. The first is its expensive installation and maintenance costs. Although it will benefit the overall production efficiency of the enterprise in the long run, the high cost also limits the needs of some customers. The resources required to deploy a complex PLM system are enormous. In addition to training employees, businesses also need to ensure they are using the right complementary tools for optimal workflow. Many manufacturers are dealing with an ever-increasing number of manufactured components in response to ever-increasing market demands and product updates. A PDM system may not be able to load components above a certain size or complexity. Organizations in the manufacturing industry often create and manage PDM system information in their format. Users sometimes need to share information across the organization or with external partners but in rarely compatible formats. At this point, the user has to go through a time-consuming process to convert the file. Conversion often results in the loss of data such as geometric features, symbols, and metadata. In addition, downstream customers usually want to customize PDM software according to their own needs, which requires software suppliers to write new codes. And newer platform releases may break custom elements, requiring special regression testing. In general, some shortcomings of PDM software may hinder the expansion of enterprise market share.
Region Overview:
In 2022, the share of the Product Data Management Software market in North America stood at 36.14%.
Company Overview:
The major players operating in the Product Data Management Software market include Siemens Teamcenter, Autodesk, Dassault Systemes, PTC Windchill, SAP, etc. Among which, Siemens Teamcenter ranked top in terms of sales and revenue in 2023.
Siemens Digital Industries Software and Siemens Xcelerator are transforming everyday life, giving companies like yours the agility, flexibility, and adaptability to turn ideas into innovations with greater efficiency and speed.
Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media, and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all.
Over 100 million people use Autodesk software like AutoCAD, Revit, Maya, 3ds Max, Fusion 360, SketchBook, and more to unlock their creativity and solve important design, business, and environmental challenges. Our software runs on both personal computers and mobile devices and taps the infinite computing power of the cloud to help teams around the world collaborate, design, simulate and fabricate their ideas in 3D.
Segmentation Overview:
By type, Cloud-based segment accounted for the largest share of market in 2022.
Application Overview:
By application, the Large Enterprises segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Product Data Management Software market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Product Data Management Software Market Report:
Market Size Estimates: Product Data Management Software market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Product Data Management Software market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Product Data Management Software market
Segment Market Analysis: Product Data Management Software market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Product Data Management Software market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Product Data Management Software Market: Revenue and sales volume of major countries in each region
Product Data Management Software Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Product Data Management Software market in major regions.
Product Data Management Software Industry Value Chain: Product Data Management Software market raw materials & suppliers, manufacturing process, distributors, downstream customers
Product Data Management Software Industry News, Policies & Regulations
Key players in the global Product Data Management Software market are covered in Chapter 12:
Propel
Plytix
Oracle
Siemens Teamcenter
CMPRO
Dassault Systemes
Specright
TIBCO
PDXpert
PTC Windchill
Autodesk
Cadac Organice
Aras Innovator
SAP
Synergis Adept
Infor
In Chapter 2 and Chapter 15.1, based on types, the Product Data Management Software market from 2018 to 2028 is primarily split into:
Cloud-based
On-premises
In Chapter 3 and Chapter 15.2, based on applications, the Product Data Management Software market from 2018 to 2028 covers:
Large Enterprises
SMEs
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Product Data Management Software market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028