China Leads in PLM Market
July 20, 2012
Across the world companies in all industries are realizing the power of data management solutions. The manufacturing industry, in particular, is seeing a huge increase in the adoption of product lifecycle management (PLM) solutions. According to a recent Business Wire article, “PTC Named a Top Solution Provider in China’s Rapidly Growing PLM Market by Leading Industry Analyst Firm CIMdata”, China’s demand for PLM is the fastest growing in the world.
Peter Bilello, President of CIMdata, was quoted as saying,
“PTC continues to experience success in the China market due to the strength of its PLM offerings and its ongoing investment in the rapidly growing Chinese market. The China mainstream PLM market has repeatedly outpaced the growth of the global PLM market as Chinese manufacturers are paying more and more attention to product innovation and are fast improving their own R&D capabilities and processes by deploying PLM. PTC has established itself as a strong presence in the market and is well positioned to take advantage of market opportunities.”
While Chinese manufacturers may be an untapped market for PLM the United States has its fair share of equally underserved industries desperately needing PLM solutions. Small and midsized businesses (SMB) are the latest to gain access to PLM thanks to lowered costs, primarily due to cloud technology. As more American companies realize that PLM solutions virtually pay for themselves by streamlining processes, ending waste and stopping duplication we expect to see growth equal to that of China.
Catherine Lamsfuss, July 20, 2012
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