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Asia Pacific Product Lifecycle Management (Plm) Software Market Forecast 2020-2028

KEY FINDINGS
The Asia Pacific product lifecycle management (PLM) software market is anticipated to grow considerably at a CAGR of 8.71% over the forecast period of 2020-2028. The initiatives mainly focused on the adoption of industry 4.0 solutions, and seeking extensive investments for advanced technology adoption, are fueling market growth in the region.

MARKET INSIGHTS
The Asia Pacific product lifecycle management (PLM) software market growth constitutes the evaluation of South Korea, Indonesia, India, Australia & New Zealand, Vietnam, China, Thailand, Japan, and the rest of Asia Pacific. Indonesia embraced digitization that has swept across Southeast Asia. In 2017, the share of e-commerce in overall digital businesses was nearly 42.6%, which was 22% more compared to 2016. In 2018, the government launched the ‘Making Indonesia 4.0' initiative that includes the digital transformation of major sectors like electronics, food & beverage, textile, chemicals, and automotive. Thailand's market is witnessing constant growth due to industrialization in the country. The government introduced the ‘Thailand 4.0' economic model designed on digital improvements that improve the quality of life, and at the same time, promote productivity and efficiency.
In Vietnam, digital technology is transforming the healthcare and pharmaceutical industry in Vietnam. Digital technologies are a constructive measure to improve efficiency and encourage cost control without compromising on patient care. The Australian government has planned many digital initiatives. Australia's annual healthcare expenditure could be lowered by 8 to 12%, by automating and simplifying processes. In New Zealand, the businesses are devoting more efforts and energy into creating successful digital strategies.

COMPETITIVE INSIGHTS
Some of the eminent companies operating in the market are Autodesk Inc, Siemens AG, PTC Inc, SAP SE, Accenture Plc, etc.

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Asia Pacific Product Lifecycle Management (Plm) Software Market Forecast 2020-2028
Published By :Inkwood Research
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