Owing to a paradigm shift in deployment methods from on-premise to cloud-based models among SMEs and some large-scale organizations boost the market.

PORTLAND, PORTLAND, OR, UNITED STATE, March 14, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The PLM in Discrete Manufacturing Market Size Reach USD 33.24 Billion by 2028, Key Factors behind Market’s Growth.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global PLM in discrete manufacturing market size was valued at USD 19.94 billion in 2020, and is projected to reach USD 33.24 billion by 2028, growing at a CAGR of 6.8% from 2021 to 2028.

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Discrete manufacturing is an industry term used for manufacturing of finished products that are distinct items capable of being easily counted, touched, or seen. In addition, PLM software is used by various industries to manage entire lifecycle of a product from its start through the engineering, design, manufacture, and disposal services of manufactured products. Moreover, discrete manufacturing and PLM software provides companies with the ability to improve their production quality and also increases a company’s efficiency & productivity. Moreover, many manufacturing units across developing nations of Asia-Pacific and LAMEA are using this software to reduce prototyping costs while developing or innovating new products, which enhances growth of the market.

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The global PLM in discrete manufacturing market is segmented on the basis of component, deployment model, enterprise size, industry vertical, and region. By component, the market is bifurcated into software and services. By deployment mode, it is categorized on-premise and cloud. On the basis of enterprise size, it is classified into large enterprises and small & medium enterprises. Depending on industry vertical, it is fragmented into automotive & transportation, industrial machinery & heavy equipment’s, high-tech & consumer electronics, aerospace & defense and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Region wise, the PLM in discrete manufacturing market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to number of factors such as penetration of new industries and improvement in economy. In addition, presence of large number of cloud PLM solution vendors across the U.S. and Canada is expected to provide lucrative opportunities for the market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to wide presence of small- and medium-scale enterprises, which are turning toward hosted PLM solutions to efficiently manage their business processes, particularly in developing countries such as China, India, and Singapore.

The key players profiled in the PLM in discrete manufacturing market analysis are ANSYS, Inc., Arena Solutions, Inc., Autodesk, Inc., Dassault Systèmes, Infor, Oracle Corporation, PTC Inc., SAP SE, Siemens AG, and Synopsys Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the PLM in discrete manufacturing industry.

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Key Findings Of The Study:

● By component, the software segment accounted for the largest PLM in discrete manufacturing market share in 2020.

● Depending on deployment, the on-premise segment generated the highest revenue in 2020.

● Region wise, North America generated highest revenue in 2020.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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