The product Lifecycle Management (PLM) software allows companies to systematically manage the lifecycle of the products. It has become an important part of the industry as it facilitates multi-disciplinary and geographically dispersed teams to collaborate strategically with the customers and partners using up-to-date information of the product.

Regionally, North America is projected to hold a maximum share in the global product lifecycle management software market during the forecast period. Heavy investments for advanced technologies & solutions, the presence of key participants, and rapidly growing automotive sector are some of the prime aspects that are boosting the market in this region. Europe is estimated to grow at a healthy rate owing to the increase in the use of digital manufacturing and the rise in the integration of IoT for the process of autonomous car production.

Some of the major players that are operating in the global product lifecycle management software market include Siemens AG, ANSYS Germany GmbH, SAP SE, PTC Inc., Autodesk Inc., Dassault Systems Deutschland GmbH, Infor Inc., Arena Solutions, Aras Corporation, Oracle Corporation, and ANSYS Germany GmbH, among others.