In 2018, the global market for product lifecycle management (PLM) in the apparel sector was valued at US$ 644.1 million, with projections indicating a growth rate of 12.5% CAGR from 2019 to 2027, potentially reaching US$ 1,825.3 million by 2027.
The retail landscape worldwide is characterized by intense competition and rapid changes, compelling retailers, manufacturers, and brands to innovate swiftly, offer products at competitive prices, and enhance their brand value. The rising global population and increased per capita spending in both developing and developed nations are significantly altering the dynamics of demand and supply. In the apparel sector, trends are often fleeting, prompting retailers and manufacturers to introduce new product lines each season to maintain a competitive edge. To thrive in this environment, the apparel industry requires PLM software that is adaptable, responsive, user-friendly, and customizable.
PLM software is crucial for automating the design and manufacturing processes in the apparel industry. This automation enables designers to reduce the time needed to create new designs and products. Technological advancements and automation are revolutionizing product manufacturing. The current manufacturing landscape in the apparel sector is marked by machines that not only process but also fulfill orders, establishing a new industry standard. Automation is proving to be a cost-saving measure that enhances operational efficiency.
At present, there is a notable shift from conventional manufacturing methods to digital manufacturing, which allows companies to manage the entire product lifecycle in a digital environment. This evolution has led to the rise of digital manufacturing, where intelligent machines operate in apparel factories, executing the entire production process autonomously. Digital manufacturing minimizes waste, reduces downtime, prevents delays, and decreases defects. The various stages of digital manufacturing?including conception, design, planning, and execution?rely heavily on PLM software such as CAD (Computer-Aided Design) and CAM (Computer-Aided Manufacturing), which is expected to drive market growth. Consequently, the increasing adoption of digital manufacturing in the apparel sector is anticipated to elevate the demand for robust and dependable PLM solutions, thereby propelling the growth of the product lifecycle management market in apparel during the forecast period.
The global product lifecycle management market in apparel is categorized by type and end-user. In terms of type, the market is divided into CAD and CAM, as well as PDM (Product Data Management) and CPDM (Collaborative Product Data Management). Regarding end-users, the market is segmented into retailers, manufacturers, and other stakeholders. Geographically, the market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Key players in the product lifecycle management market for apparel include C-DESIGN Fashion, Computer Generated Solutions, Dassault Syst?mes, EFI Optitex, Gerber Technology LLC, Infor Inc., Lectra S.A., PTC Inc., Simbus Technologies Pvt. Ltd., and Xperia.
The overall size of the global product lifecycle management market in apparel has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative insights related to the global PLM market in apparel. This research also provides an overview and forecasts for the market based on the various segments identified across global regions. Additionally, primary interviews with industry participants and experts are conducted to validate the data and analysis. Participants typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the apparel PLM sector.