The global cloud-based product life cycle management market is anticipated to grow at a CAGR of 16.80% during 2016 to 2022. The market has generated the revenue $ 18.65 Billion in 2016 and is anticipated to reach up to $ 40.55 Billion by 2022.
Cloud-based product life cycle management has a vast segmentation. Basically, cloud-based product life cycle management market is segmented on the basis of application, organization size and industry vertical. based on application the market of cloud-based product life cycle management is segmented into portfolio management, product data management, mutual design and engineering, customer management and compliance management.
Cloud-based product life cycle management has a vast segmentation. Basically, cloud-based product life cycle management market is segmented on the basis of application, organization size and industry vertical. Based on application the market of cloud-based product life cycle management is segmented into Portfolio Management, Product Data Management, Collaborative Design and Engineering, Customer Management and Compliance Management. Similarly, based on organization size the market is further segmented into Small, Medium and Large Enterprises. Based on industry vertical the market of Cloud-based Product life cycle management is further segmented into Aerospace and Defense, Energy and Utilities, Healthcare and Life Sciences, Retail and Consumer Goods, Industrial Machinery and Heavy Equipment, Telecommunications and IT, Automotive and Transportation and Semiconductor and Electronics.
Geographically, the market of cloud-based product life cycle management is segmented in to North America, Asia pacific, Europe and rest of the world. North America is leading the market of cloud based cloud-based product life cycle management market with the market share of 47%. Increasing number of complicated threats and the Increasing government compliance on data security are few factors which is driving the market. Huge investment in R&D sector from the key players in this region is also helping the market to grow. Europe holds 31% of cloud based Product life cycle management market with. Asia-Pacific has rich presence of the foreign industry where threat intelligence security is being deployed. A growth in cloud service is one of key factor which is supporting the market in this region.
Some of the major market players are Accenture PLC , Aras , Arena Solutions, Inc. , Autodesk, Inc. , Collaborate Cloud, Dassault Syst?mes , Gatherspace.com, Infor, Inc, Inforbix, Oracle Corporation , PTC, Inc. , SAP SE , Siemens AG , SofTech, SpiraTeam. Acquisitions, innovation and mergers are the key strategies adopted by the market players to sustain in the market. For example: In, 2016 Oracle announced that they had completed the acquisition of Add. This is a leading supplier of publisher personalization, audience insight and activation tools that powers 15 million websites and enable matchless audience segment quality, scale and insight. Similarly, in 2016, SAP announced plans to accelerate its headship position in the cloud with innovations built on the SAP HANA platform, predictive capabilities and mobile business intelligence that plan to enable users to benefit from consumer-grade experience and enterprise-scale performance.