Technavio has published a new report on the global PLM software market in the automotive sector from 2017-2021. (Graphic: Business Wire)
Technavio has published a new report on the global PLM software market in the automotive sector from 2017-2021. (Graphic: Business Wire)
-
Full Size
-
Small
-
Preview
-
Thumbnail
-
-
Full Size
-
Small
-
Preview
-
Thumbnail
-
LONDON—Technavio’s latest report on the PLM software market in the automotive sector provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
PLM software is mainly used in the product development stage, which starts long before manufacturing begins in the automotive industry. The automotive industry is driven by the increased demand for fuel-efficient automobiles and small and light vehicles because of the rise in fuel prices, stringent environmental laws, and higher emission standards imposed by various governments.
Ishmeet Kaur, a lead analyst from Technavio, specializing in research on product lifecycle management sector, says, “PLM plays a key role in meeting the needs of the automotive industry and to comply with requirements imposed by governments. It ensures advanced safety features, electronics, and embedded software content in vehicles. The need for advanced safety features in automobiles will boost the market growth during the forecast period.”
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The top three emerging trends driving the PLM software market in the automotive sector according to Technavio ICT research analysts are:
- Use of DM in manufacturing intelligent cars
- Increase in adoption of CFD for battery designing
- Shift toward 4D CAD
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Use of digital manufacturing (DM) in manufacturing intelligent cars
The automotive industry is facilitating the production of intelligent vehicles, which include digitized vehicles with Wi-Fi. Companies, such as Tesla, are making huge investments in the R&D of intelligent cars. Intelligent car model designing requires an environment that has additional facilities pertaining to the complexity associated with manufacturing processes.
DM vendors have already taken steps to develop DM software with added features to keep up with these trends in the market. Tesla, for instance, uses the DELMIA DM software by Dassault Systèmes. In the construction of Tesla's Model S, for instance, the car manufacturer integrated ENOVIA (cPDM software) and CATIA (CAD software) with DELMIA to simulate the manufacturing facility and process.
Increase in adoption of computational fluid dynamics (CFD) for battery designing
Vehicle manufacturers are spending on R&D to a great extent for manufacturing vehicles with high fuel efficiency. They are complying with the set standards to ensure that there is no increase in the total cost of the vehicle. This has forced vehicle manufacturers to focus on the development of electric vehicles.
“Many major players in the automotive industry have included electric and hybrid vehicles in their product portfolio. Companies such as GM and Ford have increased the number of electric and hybrid vehicles in their product portfolios. Many manufacturers, such as BMW and Volkswagen, have recognized the potential of electric vehicles and are focusing their R&D in this area,” says Ishmeet.
Shift toward 4D CAD
End-users are gradually shifting their interest from 3D to 4D CAD models. Due to globalization, competition among CAD solution vendors has increased, and the lack of product differentiation is adding to the battle for maximum market share. Additional features and functionalities are incorporated by vendors to improve customer experience. 4D CAD solutions, developed by CAD providers, offer enhanced operational performance.
The key vendors are as follows:
- Autodesk
- Dassault Systèmes
- PTC
- Siemens PLM Software
Browse Related Reports:
- Global Mainstream Product Lifecycle Management (PLM) Market 2017-2021
- Global Electronic Design Automation Market 2017-2021
- Global Computer-aided Design Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com