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Adoption in Automotive and Heavy Engineering Sectors to Drive the $139.5-Million PLM Market Towards $437.9 Million by 2017 Predicts Frost & Sullivan - Booming economy ensures sustained demand from diverse end-user segments - Motors.Frost.com
Adoption in Automotive and Heavy Engineering Sectors to Drive the $139.5-Million PLM Market Towards $437.9 Million by 2017 Predicts Frost & Sullivan

 

PRZOOM - /newswire/ - Mumbai, India, 2012/01/11 - Booming economy ensures sustained demand from diverse end-user segments - Motors.Frost.com.

   
 
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Manufacturing Companies are focussing on improving the Product Development Process which will raise the demand for PLM. The automotive, heavy engineering, and industrial machinery sectors account for the lion's share of PLM sales in India, with the automotive and industrial machinery sectors being the fastest adopters.

New analysis from Frost & Sullivan (motors.frost.com), Strategic Analysis of the Indian Product Lifecycle Management (PLM), finds that the market was over USD 130 million in 2010 and is expected to become over USD 400 million opportunity by 2017; the Compound Annual Growth Rate (CAGR) is expected to be in excess of 15 percent during 2010-2017.

The majority of tier I original equipment manufacturers (OEMs) utilize PLM in their product management initiatives and on occasion, it has also been implemented by a few tier II OEMs and component suppliers to aid their module and assembly development operations. However, complete PLM implementations with all the three components of computer-aided design/computer-aided-engineering (CAD/CAE), lifecycle management, and digital manufacturing have been few, and mostly concentrated among large enterprises.

Frost & Sullivan analyst notes,"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."

Infrastructure growth and high-volume production of capital goods for the power sector, growth of the public sector, aerospace and defense research organizations, and increasing private sector participation have all contributed significantly to the PLM market in 2010. Process PLM adoption in the pharmaceutical, food and beverages and chemical industries has been slow in the country. As these are not CAD/design centric industries, PLM is predominantly used for formulation management, packaging designs, and regulatory compliance. Increasing competition and exports are expected to drive the adoption of Process PLM in India.

Participants in the PLM industry in India can be classified into four categories: PLM vendors such as Siemens PLM, Dassault Systemes, PTC, Think 3, Wrench Solutions, Arena Solutions, Aras PLM, among others; ERP companies such as SAP and Oracle with digital lifecycle management products; CAD/CAM/CAE vendors such as Autodesk, Altair, LMS, MSC, Ansys, among others and System Integrators who provide consultation, implementation, maintenance, and training services. Key system integrators include TCS, ITC Infotech, Geometric Ltd, EDS Technologies, and L&T Infotech, among others.

In addition, PLM deployment and utilization requires highly-skilled workforce who have expertise in a PLM platform, experience in the respective industry and database management skills to customize PLM products. The costs involved in hiring and training engineers can be significant and become a restraint on the widespread PLM adoption among the SME segment in the country. The focus on quality control in traditional industry sectors in India is also at a nascent stage. Large industrial and heavy engineering public sector organizations, which dominate several industries, are yet to increase the focus on improving quality. However, as the competition increases, this trend is expected to change and drive the PLM adoption in the country.

According to Frost & Sullivan Analyst,"As organizations grow, they realize the need to vault design data, manage product configurations and portfolios effectively, and be able to track design changes through PLM."

The PLM industry does face challenges in terms of reluctance from the employees to move to newer versions, loss of data during migration to new systems, lack of skilled labour and need for CAD interoperability and out of the box solutions

If you are interested in more information on this study, please send an email to Caroline Lewis / Nimisha Iyer, Corporate Communications, at caroline.lewis[.]frost.com / niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Strategic Analysis of the Indian Product Lifecycle Management (PLM) Market is part of the Industrial Automation & Process Control Growth Partnership Service program, which also includes research in the following markets: Indian Integral Horse Power Motors Market, Strategic Analysis of the Indian Manufacturing Execution Systems Market, and Strategic Analysis of the Indian Pumps Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 40 offices across six continents.

Strategic Analysis of the Indian Product Lifecycle Management (PLM) Market / P4B3

Tanu Chopra, Corporate Communications - Middle East and North Africa
P: +91 22 6607 2037 / F: +91 22 2832 4713 - E: tanu.chopra[.]frost.com.

Deepshri Iyer, Corporate Communications - Middle East and North Africa
P: +91 22 6607 2003 / F: +91 22 2832 4713 - E: deepshrii[.]frost.com.

 
 
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Adoption in Automotive and Heavy Engineering Sectors to Drive the $139.5-Million PLM Market Towards $437.9 Million by 2017 Predicts Frost & Sullivan

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