Product lifecycle management: state-of-the-art and future perspectives

While most SMEs in general are willing to invest into PLM systems, many are still apprehensive to the sometimes large initial investment to be made in terms of both software cost and the time needed to implement and integrate such system into their digital enterprise technology infrastructure. In light of this, it is crucial for their decision makers not only to understand the current PLM market, but also to become familiar with emerging trends and future developments in order to select a PLM solution that best fit the needs of their enterprise. In this chapter, the authors summarize a detailed analysis of the PLM market with the aim to provide educators, students, and decision makers in industry with an overview of the current PLM market as a whole. In addition, emerging trends and future developments are addressed.