The size of the ANZ Product Lifecycle Management (PLM) software market was estimated at USD 302.6 million in 2022. With a projected CAGR of 10.5% over the forecast period, the market is expected to increase from USD 332.0 million in 2023 to USD 669.8 million by 2030.
The use of current product information allows multidisciplinary, geographically dispersed teams to strategically collaborate with partners and customers. It gives businesses the ability to distribute, centralize, secure, and automate product data, thereby bringing about product development standards. Additionally, data, business systems, processes, and personnel involved in product development are consolidated by the market for product lifecycle management software.
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Which company dominates the Global ANZ Product Lifecycle Management (PLM) Software Market?
- Centric Software, Inc. (U.S.)
- Aras Corporation (U.S.)
- Odoo SA (Belgium)
- Loggia Corp Pty Ltd. (Australia)
- Autodesk Australia Pty Ltd. (Singapore)
- Dassault Systèmes Australia Pty Ltd. (Australia)
- Siemens (Germany)
- Bentley Systems, Inc. (U.S.)
- PTC (U.S.)
- HCL Technologies Limited (India)
What are the factors driving the growth of the ANZ Product Lifecycle Management (PLM) Software Market?
The process of making three-dimensional objects by layering or adding material is known as additive manufacturing, also referred to as 3D printing. To speed up the design, simulation, and production phases of additive manufacturing, PLM software is used. This allows for the effective creation and optimization of 3D printed components. The manufacturing EBITDA in the ANZ region increased significantly, up 17.8% after rising 6.9% in 2020–2021, according to the Australian Bureau of Statistics. Manufacturing Income from Value Added (IVA) also saw a significant increase of 15.2%, following a 0.5% increase in 2020-2021. Additionally, the business expenditure on R&D reached USD 18,171 million, with 39% of the expenditure being allocated to information and computing sciences. Thus, investments in innovation and technology and the adoption of PLM software into CAD systems are expected to be enhanced, with the growing use of additive manufacturing in the region, thereby driving the market growth.
What geographic market insights are there for the ANZ Product Lifecycle Management (PLM) Software Market?
Due to market expansion and government-sponsored initiatives for digital transformation, the Australian product lifecycle management software market is anticipated to have a larger market share than that of New Zealand. The industry's diverse ecosystems of channel and distribution partners can in large part be attributed to an increase in partnerships and collaborations between domestic and foreign players. Since product lifecycle management software is an essential tool for engineering firms, the market's growth reflects both regional support for starting engineering-focused businesses and a healthy level of industry competition.
Read More On The ANZ Product Lifecycle Management (PLM) Software Market Report At:
https://www.fortunebusinessinsights.com/anz-product-lifecycle-management-plm-software-market-108346
An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "ANZ Product Lifecycle Management (PLM) Software Market size" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research study on ANZ Product Lifecycle Management (PLM) Software Market Trends also covers shifting political climates, escalating environmental concerns, and various government strategies for regulatory reforms.
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