2012-09-06 16:19:11 - Global product data management market to increase at a CAGR of 10.93%
The global product data management market has been forecast to increase at a compound annual growth rate (CAGR) of 10.93% between 2011 and 2015.Key factors contributing to this growth include the increasing need to reduce product development time and the increasing demand for cloud-based product data management software.Product data management is the fundamental building block of any engineering software strategy and helps companies get the most out of their precious resources.The integration of product data management with enterprise applications is one of the emerging trends in the market. This cost-effective integrated product data management attracts many large enterprises and industries as it increases the productivity and efficiency of supply chains. In addition, integrated enterprise product data management solutions provide various
advantages such as a wide range of search criteria, the management of bills of material, check-in and check-out design data management, and process flow definition.However, the high initial investment could pose a challenge to the growth of this market.Key players dominating the global product data management market include Siemens PLM Software Inc., Dassault Systemes SA, SAP AG, Parametric Technology Corp.For more information on the global product data management market, see the latest research: Global Product Data Management Market ReportFollow us on Twitter @CandMResearch
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