Cloud Based PLM Market Overview:
The global cloud-based PLM market is predicted to surpass USD 50 billion at a 15% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Cloud-based PLM is an internet-based system that helps to manage a product and its related information right from the concept up to the end.

Various factors are driving the growth of the Cloud Based PLM Market. These factors, in accordance with the Market Research Future (MRFR) report, include growing demand for integrated PLM solutions, growing adoption of IoT (internet of things), effective supply chain management, 3D printing, managing re-engineering in real-time, effective customer management, and integration into the ERP system.

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Major Key Players:
Leading players profiled in the cloud-based PLM market report includes Razorleaf Corp. (US), IFS AB (Sweden), Accenture PLC (US), Infor Inc. (US), Aras Corporation (US), Arena Solutions, Inc. (US), Autodesk, Inc. (US), SAP SE (Germany), Oracle Corporation (US), PTC Inc. (US), Siemens AG (Germany), and Dassault Systemes (France) among others. The key market players are using various strategies such as acquisitions, mergers, innovations, cost-effective product portfolio, and increasing investments in R&D activities to create a foothold in the market. Moreover, they are also investing in cutting-edge technology and also acquiring other firms.

July 2019: Lectra has introduced its latest cloud-based platform Kubix Link which will integrate every fashion business process right from ideation to the point of sale. With its built-in digital asset management (DAM), product information management (PIM), and product lifecycle management (PLM) capabilities, Kubix Link will offer fashion companies with a consolidated view pertaining to all information of every product.

Market Segmentation:
The Market Research Future report offers a wide segmental analysis of the cloud-based PLM market based on end user, application, technology, organization size, and component.
• Based on component, the cloud-based PLM market is segmented into services and software. The software segment is again segmented into digital manufacturing (DM), collaborative product definition management (CPDM), architecture, engineering and construction (AEC), electronic design and automation (EDA), simulation and analysis (S&A), numerical control (NC), and CAD/CAM/CAE. The services segment is again segmented into infrastructure as a service (IaaS), software as a service (SaaS), platform as a service (PaaS), and others.
• Based on technology, the cloud-based PLM market is segmented into near field communication, radio-frequency identification, and others.
• Based on application, the cloud-based PLM market is segmented into compliance management, customer management, collaborative design and engineering, product data management, portfolio management, and others. Of these, the customer management segment will have the largest share in the market over the forecast period.
• Based on organization size, the cloud-based PLM market is segmented into large enterprise and small and medium enterprise.

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Regional Analysis:
Based on the region, the cloud-based PLM market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World. Of these, North America will lead the market over the forecast period. The US is the key contributor here. This is owing to advanced technological infrastructure coupled with the presence of several cloud-based solution providers in the region.

The cloud-based PLM market in the APAC region is predicted to have substantial growth over the forecast period. Japan, Republic of Korea, Taiwan, and China are the key contributors here. This is due to government agencies promoting cloud-based PLM constantly for data security.

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