New Markets Thrive Thanks to Global Economic Downturn
June 20, 2012
Traditionally, product lifecycle management (PLM) providers have focused on industries such as aerospace, automobile and manufacturing for customers. With the global economic meltdown in 2008 PLM providers were forced to think outside the box and sell their wares elsewhere or cease to exist. The Control Engineering Asia article, “New Industries Driving PLM Market Growth”, explains how PLM has reinvented itself to include just about every industry imaginable.
The article goes into detail about how PLM providers turned their attentions beyond their traditional customers:
“These mainstay discrete industries that retreated during the economic downturn of ‘08 and ‘09 gave more impetus to PLM suppliers to look to non-traditional industries. Solutions are now being readily adopted by a set of industrial verticals such as medical devices, CPG, consumer goods, retail, ship building, energy generation & utilities, and AEC; and the adoption growth rates in these sectors reflect this trend. PLM suppliers are looking for growth in these sectors to fuel revenues as their business growth in the discrete industries matures.”
Smart PLM providers quickly understood that expanding PLM to new markets was necessary for survival. Now that a few years have passed affordable cloud based PLM solutions are readily available for every size enterprise. Some of our favorites, like Inforbix, focus on new data management solutions to help companies derive the most meaning from their data and as a result reduce waste and duplication.
Catherine Lamsfuss, June 20, 2012
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