The global product lifecycle management in apparel market accounted for US$ 644.1 Mn in 2018 and is expected to grow at a CAGR of 12.5% over the forecast period 2019-2027, to account for US$ 1,825.3 Mn by 2027. The global retail industry is highly competitive and dynamic industry requiring retailers, manufacturers, and brands to innovate faster, provide products at competitive prices, and improve their brand equity. Increase in population growth and an upsurge in per capita spend across both emerging, and advanced economies are contributing to a remarkable change in the demand-and-supply equation. In the apparel industry, styles are short-term, so retailers, manufacturers, and brands strive to launch new product offerings every season to remain in intense competition. To remain in the competition, the apparel industry needs PLM software that is flexible, agile, user-friendly, and customizable.
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Product lifecycle management software plays an important role in the automation of apparel designing and manufacturing. The automation in PLM software helps designers to lessen the time required for creating new designs and products. Automation and technological advancements are significantly transforming how products are manufactured. The new era of manufacturing is currently noticeable in the apparel industry, where machines are both processing and filling orders, which has also become an industry trend. Automation is allowing businesses to save money and gain efficiencies.
Currently, there is a shift from traditional manufacturing to digital manufacturing, which allows businesses to plan and implement the lifecycle of a product digitally. This transition has led to the development of digital manufacturing where smart machines are deployed in the apparel manufacturing factories, which carry out the entire production process without any human interference. Digital manufacturing helps to eliminate product wastage, downtime, delays, and defects. The processes of digital manufacturing, such as conception, design, planning, and execution, need wide use of PLM software such as CAD and CAM, which predicts the growth of the market. Hence, the rise in digital manufacturing in the apparel industry is expected to boost the demand for robust and reliable PLM and thus drive the growth of product lifecycle management in the apparel market during the forecast period.
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The global product lifecycle management in apparel market is segmented based on type and end-user. Based on the type, the product lifecycle management in apparel market is segmented into CAD and CAM, PDM/CPDM. Based on end-user, the product lifecycle management in apparel market is bifurcated into the retailers, manufacturers, and others. Geographically, the market is fragmented into five regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
The well-established market players operating in the product lifecycle management in apparel market are C-DESIGN Fashion, Computer Generated Solution, Dassault Systèmes, EFI Optitex, Gerber Technology LLC, Infor Inc., Lectra S.A, PTC Inc., Simbus Technologies Pvt. Ltd., and Xperia.
The overall global product lifecycle management in apparel market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global product lifecycle management in apparel market. It also provides an overview and forecast for the product lifecycle management in apparel market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the product lifecycle management in apparel industry.
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The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the product lifecycle management in apparel market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the product lifecycle management in apparel market?
What are the prominent market trends influencing the development of the product lifecycle management in apparel market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the product lifecycle management in apparel market?
What are the major opportunities the market leaders can rely on to gain success and profitability?
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