Top 3 Trends Impacting the Global PLM Market in Consumer Goods Industry Through 2020: Technavio

LONDON--()--Technavio’s latest report on the global product lifecycle management (PLM) market in consumer goods industry provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Amrita Choudhury, a lead analyst from Technavio, specializing in research on product lifecycle management sector, says, “The global PLM market in the consumer goods industry is expected to grow at CAGR of over 12%. The PLM market is mainly driven by factors like the increasing demand for product innovation from emerging markets, streamlining of product development process in the consumer goods industry and leveraging the advantages associated with the implementation of PLM tools.”

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The top three emerging trends driving the global PLM market in consumer goods industry according to Technavio ICT research analysts are:

  • Increased use of PLM mobile applications
  • High adoption of synchronous technology
  • Use of integrated packaging in packaged consumer goods sector

Increased use of PLM mobile applications

The introduction of PLM software as mobile applications is gaining popularity among consumer goods manufacturing companies. These mobile applications increase the mobility and ease of access of PLM software in consumer goods manaufacturing companies. The apps help the companies to track performance, with the use of prototypes and samples of products such as clothing, footwear, and hard goods. It also reduces the cost and brings quality to the market faster.

Some of the major PLM mobile applications and their providers are Manufacturing 360, Tecnomatix 360, Capture It. These apps include features such as demo videos, case studies and blog posts. These products help in streamlining the manufacturing process, track the performance of the products and upload images directly after capturing.

High adoption of synchronous technology

The adoption of synchronous technology is increasing, especially in the apparel industry for product designing, creating and editing 3D prototypes and models. Synchronous technology provides proper control and immediate feedback of the designed model. Due to this, designing requires less preplanning and fewer command codes, making the process faster than previous modeling systems. In addition, the need for remodeling is comparatively less in synchronous technology. Unlike conventional history-based models, synchronous technology does not require the detailed history of a model. Options such as pick and drag with real-time dynamic updating help introduce the change easily.

Interoperability is another major factor that will give more prominence to synchronous technology in the future. It acts as a layer between NX, Solid Edge (Siemens PLM Software's CAD/CAM/CAE software), and PLM components.

Use of integrated packaging in packaged consumer goods sector

In the consumer goods sector, brand value is achieved by creating modern, consumer-friendly and sustainable packaging. The packaging of the product should convey all the values of the brand, attracting retailers and consumers alike. To create packaging that boosts the brand value of consumer goods manufacturers, it is mandatory that the manufacturer should have an innovative product and packaging concept, advanced package design and development capabilities. Also, the packaging and labelling should be environment friendly and compliant with regulations such as Food Safety and Standards Regulations.

The PLM solutions provide the packaging teams with the necessary tools like CAD, 3D printing, DM, CAM and CAE to effectively control and manage the complex packaging processes such as packaging design, artwork, labelling, and manufacturing of packs and labels. The software helps the packaging team to create integrated, refined, and automated process. The integration of packaging process also makes sure that the final design does not deviate from the pre-specified requirements.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio announces their latest report on the global product lifecycle management (PLM) market in consumer goods industry .

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com