Product Lifecycle Management (PLM) is extending rapidly from the traditional bounds of Concept and Design stages for a product, and into downstream Realisation and Service stages. Particularly impactful will be the increasing adoption of x-as-a-service concepts, which will unlock economic value and transform maintenance functions and secondary markets for a wide range of assets.
New and emerging concepts for PLM include: AR/VR interfaces to design systems to speed product concept and design; IoT and data sharing to extend PLM concepts into live service phases; AI to support pre-emptive maintenance, and; physics-based modelling to simulate how products will behave in real-world environments.
This Technology Insight Report provides an overview of Next-Generation PLM, a key technology in the wider Digital Transformation space. It describes the overall market dynamics for Next-Generation PLM, including market size and development trajectory, use cases, best practices, and recent market developments. The report explores the vendor landscape for PLM, innovative players, vendor selection criteria, and highlights opportunities and risks for end users.
The report also includes an analysis of the key solution characteristics of relevant case studies contained in Transforma Insights’ Best Practice & Vendor Selection database, including payback time, process efficiency and value proposition impact, and a range of technology-specific characteristics.