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

The Europe product lifecycle management (PLM) software market is estimated to register a CAGR of 5.75% during the projected period, 2020-2028. The clothing manufacturers are collaborating with PLM providers for optimizing their designs, which is fueling market growth in the region.

The Europe product lifecycle management (PLM) software market growth is researched by dividing the region into countries such as Russia, France, the UK, Poland, Germany, Belgium, Italy, and the rest of Europe that includes Switzerland, Netherlands, Sweden, and others. Russia's market is witnessing stable growth due to demand for digital transformation in the country, which is a major priority for businesses in the country. Digital transformation, more than digitization, is a customer-driven strategic business development that involves the implementation of digital technologies, along with organizational change. Moreover, Russia needs to adopt digital tools to strengthen the competitiveness of its major industry sectors to accelerate the transformation of state-owned enterprises. Belgium's market is experiencing a demand due to digitization in the country. The country is accommodating digital high value industries like Artificial Intelligence, IoT, and Big data Analytics, which is helping the country to increase its GDP.
In Poland, the government aims to develop domestic industry technologies to the ‘industry 4.0' level and produce innovative products. However, the companies may have to withstand high barriers regarding the digital transformation of the industry. In 2016, Poland established a ministry of digital affairs to develop broadband infrastructure, create web content, and promote digitization among citizens. In the rest of Europe, efforts are continuing to expand programs for innovation policies and programs related to digitization to exploit research and testing opportunities.

Some of the well-established companies operating in the market are SAP SE, Siemens AG, ANSYS, Inc, Dassault Systemes SE, Accenture plc, etc.

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