India Improving Their Product Development Process
January 23, 2012
As product lifecycle management (PLM) grows in the United States and Europe, it has also taken to life in India. Moneylife’s article “Adoption in Automotive and Heavy Engineering Sectors to Drive the $139.5-Million PLM Market Toward $437.9 Million by 2017, predicts Frost & Sullivan” discusses the growth and challenges ahead for India’s manufacturing industry.
Business research firm, Frost and Sullivan, found in their “Strategic Analysis of the Indian Product Lifecycle Management (PLM)” that the “Compound Annual Growth Rate (CAGR) is expected to be in excess of 15 percent during 2010-2017.” They note that:
“Medium-sized enterprises are gradually shifting from traditional CAD components to include lifecycle data management capabilities. Small-sized businesses, being largely CAD-centric and OEM-driven, are yet to completely appreciate the benefits of PLM.”
Although there is significant growth in the industry, it is also faced with the lack of a “highly-skilled workforce who have expertise in a PLM platform,” the cost of training and reluctant employees.
It seems that India’s manufacturing industry is heading in the right direction, but adapting to swiftly changing technology could be the biggest challenge. Technology companies like Inforbix are always developing new, cutting-edge software that changes the manufacturing landscape. Innovation is not going to stop, but we wonder if India will be able to keep up.
Jennifer Wensink, January 20, 2012
Comments
-
- Subscribe to Beyond Search
Feature archive
News archive
-
