PRZOOM - /newswire/ -
Needham, MA, United States, 2013/07/30 - PTC today announced that it has been ranked a leading provider of product lifecycle management (PLM) solutions in China by independent global PLM strategic management consulting and research firm CIMdata, Inc. [Nasdaq: PMTC] - PTC.com. NASDAQ: PMTC
In its 2013 China PLM Market Report just issued, CIMdata identified PTC as the clear market leader in four categories: Mainstream PLM and collaborative Product Definition management (cPDM), as well as the Aerospace & Defense and Electronics & High Tech vertical industries.
This recognition of leadership comes as PTC celebrates 20 years in business in the fast growing China market. CIMdata predicts that the China PLM market will maintain rapid growth. The report indicates that the five-year Compound Annual Growth Rate (CAGR) for calendar years 2013 through 2017 is forecast to be approximately 16.1% and that the 2013 growth rate is forecast to be approximately 16.2%. The report further states that A&D is the largest and fastest growing industry sector in the China PLM market.
"PTC continues to experience success in the China market due to the strength of its PLM offerings and its ongoing investment in the rapidly growing Chinese market," said Peter Bilello, President, CIMdata. "The China PLM market repeatedly has outpaced the growth of the global PLM market as Chinese manufacturers focus on product innovation as a means of differentiation. These companies deploy PLM as a means to promote collaboration, automate and manage processes, and capture best practices. PTC has established itself as a strong presence in the market and is well positioned to take advantage of market opportunities."
PLM forms the product information backbone for a company and its extended enterprise. CIMdata defines PLM as a strategic business approach that applies a consistent set of business solutions in support of the collaborative creation, management, dissemination, and use of product definition information across the extended enterprise.
The report's author, Stan Przybylinski, Vice President of Research, CIMdata, continued,"PTC invested heavily in the Chinese market. In May 2012, PTC and Donghua University began planning to build a PLM Center for the fashion industry. The center is being designed to simulate the real working environment in apparel enterprises and highlight PLM's effect on R&D management in these enterprises. Additionally, PTC continued increasing investment in engineering education in China in 2012. PTC and Boeing Company sponsored the FIRST Tech Challenge (FTC) Robotics Competition for the third time in China. This event has become a famous academic competition in China. Also, PTC continued investing heavily in its channel network."
PTC's #1 ranking in the mainstream PLM market segment reflects the success of its PTC Windchill® family of PLM solutions, which enable manufacturers to do more throughout the product lifecycle, know more about product performance, and get more value from their PLM investment. PTC's solutions help customers transform the way they create and service products across the entire product lifecycle - from conception and design to sourcing and service.
"We are committed to helping our customers in China achieve product and service advantage in a highly competitive market by providing them with world-class technology, professional services and personal support," said Richard Shou, DVP, President of PTC China, PTC.
PTC (ptc.com) enables manufacturers to achieve sustained product and service advantage. The company's technology solutions transform the way products are created and serviced across the entire product lifecycle - from conception and design to sourcing and service. Founded in 1985, PTC employs over 6,000 professionals serving more than 27,000 businesses in rapidly-evolving, globally distributed manufacturing industries worldwide.
About the CIMdata China PLM Market Analysis Report
CIMdata's 2013 China PLM Market Analysis Report provides detailed information and in-depth analysis on the rapidly-evolving Product Lifecycle Management (PLM) market in the People's Republic of China ("China") in calendar year 2012. A joint collaborative effort between CIMdata and China-based e-works Manufacturing Information Technology Co., Ltd., the report contains analyses of major PLM trends and issues, leading PLM solution providers, PLM investments in software and services, PLM adoption in various industry sectors, and market growth forecasts that pertain to this important economic region.
Contact: Anand Savani - WeberShandwick
P: 617-520-7290 - E: asavani[.]webershandwick.com.
PTC, the PTC logo and Windchill are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and in other countries.