Growing Retail & Consumer Goods Market to Boost the Demand for Product Lifecycle Management Consumer Packaged Goods and Retail (PLM CP&R) Market
The PLM CP&R market globally is expected to grow with a CAGR of 10.9% during the forecast period from 2019 to 2027, starting from US$ 2.07 Bn in 2018. The rising retail & consumer goods industry and growing demand for product life cycle management are the primary growth factors for the market. In addition, the use of PLM as a strategic enabler by corporations is another major factor for market growth. PLM helps in transforming people & processes and enables innovative, time-saving, and cost-effective solutions for procedures. Thus, we expect the market to show considerable growth throughout the estimated period.
Market Synopsis
Retail Segment to Continue Leading the Market
The PLM CP&R market was dominated by the Retail segment in 2018. The segment has a major revenue share with a contribution of around 35% in the same year. The retail industry will grow at a CAGR of around 5.4% in future years. The major factors responsible for segment growth are enhancing the retail industry in developing economies such as China, India, and others. In addition, the growing use of PLM in the retail sector will also boost the segment. Therefore, we expect the retail segment to continue its market dominance during the forecast period 2019-2027.
The Asia Pacific to be the Fastest Growing Region
In 2018, North America dominated the PLM CP&R market and contributed around 35% of the revenue share in the same year. Technology shift towards Factory 4.0 and the established retail industry are the major factors for the dominance of North America. On the other hand, Asia Pacific will emerge as the fastest growing region owing to the rising retail and consumer goods industry in the region. In addition, the increasing demand for PLM in the region is the other factor driving the Asia Pacific market growth. Thus, we expect the Asia Pacific to be the fastest-growing region in the market throughout the estimated period.
Some of the prominent players operating in the product lifecycle management consumer packaged goods and retail (PLM CP&R) market include Accenture plc, IBM Corporation, Oracle Corporation, SAP SE, Dassault Systèmes SE, Autodesk, Inc., Hewlett-Packard Company, Cisco Systems, Inc., 10ZiG Technology, Acer Inc., Gerber Scientific, Inc. and Advantech Co., Ltd. among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The product lifecycle management consumer packaged goods and retail (PLM CP&R) market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global product lifecycle management consumer packaged goods and retail (PLM CP&R) market based on component, end-use, and geography.
Frequently Asked Questions:
The market for Product Lifecycle Management Consumer Packaged Goods And Retail (PLM CP&R) is expected to reach US$ 2.07 Bn in 2028.
The Product Lifecycle Management Consumer Packaged Goods And Retail (PLM CP&R) market is expected to see significant CAGR growth over the coming years, at 10.9%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
Accenture Plc, IBM Corporation, Oracle Corporation, SAP SE, Dassault Systèmes SE, Autodesk, Inc.,, Hewlett-Packard Company, Cisco Systems, Inc.,, 10ZiG Technology, Acer Inc. are some of the major players in the global market.
