China PLM market growing
The demand for product lifecycle management (PLM) products in China is on the rise, according to a recent report.
Conducted by a leading global PLM management consulting and research firm, the report found that the PLM market in China is growing and evolving, according to MCADCafe. More industries are using PLM technology to improve their operations. Spurred by the expanding Chinese economy, the number of organizations interested in PLM software is also increasing. In addition to traditional discrete industries, firms in the life science, food and beverage and other markets are also relying more heavily on PLM to improve their research and development processes.
According to Stan Przybylinski, director of research for the PLM research firm, the Chinese Mainstream PLM market reached $640.9 million in 2011. This figure represents growth of 22.3 percent from the previous year, easily outpacing the global PLM market growth rate of approximately 12 percent. He noted that the Chinese Mainstream PLM market is expected to grow an additional 13.9 percent in 2012, the news source reported.
The report noted that the aerospace, high-tech, mechanical machinery and automotive sectors were among the industries investing most heavily in PLM technology, according to the news source. Dassault Systemes, PTC and Siemens PLM software were the leading providers of PLM in China, accounting for more than 50 percent of all PLM revenue in the nation.
This report reinforces a recent Arc Advisory Group study, which found that the global PLM market is recovering and expanding into new markets. Control Engineering Asia reported that while the PLM market floundered somewhat during the recent economic turmoil, a number of sectors, including automotive, aerospace and defense, are recovering and increasing investment in the technology.
Furthermore, the report found that PLM is extending into previously untapped markets. This includes industries not traditionally associated with the technology, such as medical device, consumer goods, retail and shipbuilding companies, as well as geographic regions, including Brazil, Russia, India and China, the news source reported.