Adoption of artificial intelligence for SLM can present lucrative growth opportunities. It ensures companies react faster to technical issues related to the product, ensures product availability, and customer query resolution.
Aftersales service component is outside the domain of many metal companies. SLM applications would help in tracking the performance and providing after-sales services such as welding and maintenance and repair of metals after sale.
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Market Key Drivers
1. Low service cost for SLM providers is expected to drive their market growth during the forecast period. Adoption SLM application ensures cost reduction for end users by enhancing first-time fix rate, enabling fast time to dispatch, increasing technician productivity, and parts and inventory management
2. Competitive advantage over-discharged technology is expected to propel the market growth over the forecast period. Service lifecycle management application covers the complete service lifecycle of the product throughout its life. It also provides integrated view of service that connects delivery, planning, and analysis.
3. Key players in the market are focused on partnerships and collaborations, in order to gain a competitive edge in the market. For instance, in May 2016, Siemens PLM partnered with TCS to provide the best-in-class PLM-SLM suite with TCS data analytics support. May 2016, Comptel partnered with IBM and Juniper Networks in an IBM Cloud-Based architecture to provide digital service lifecycle management, technology, and expertise.
Key companies operating in the market are:
Dassault Systems, PTC, Inc., IBM Corporation, Tech Mahindra Limited, Astea International, Inc., Wipro Limited, Oracle Corporation, Siemens AG, Tata Consultancy Service Limited, and Atos SE.
1. Major companies in the market are focused on contracts and agreements to enhance the market presence. For instance, in April 2020, IBM Corporation entered into an agreement with Fenergo to collaborate on solutions that can help clients address various financial risks.
2. Key players in the market are involved in product launches, to expand the product portfolio. For instance, in February 2019, Tech Mahindra Limited introduced netOps.ai to accelerate 5G adoption for communication service providers.
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