Quality and Lifecycle Management Software Market worth $ 20.41 Bn by 2019, According to a New Study on ASDReports

Monday 29 September 2014, Amsterdam

The new report, now available on ASDReports, "Quality and Lifecycle Management Software Market by Solutions (Bill Of Material, Document & Product Data, Quality, Change, Cost, Governance and Compliance) Management, Lifecycle Analytics, by Deployment Modes (On-Premises, Hosted (Cloud) - Global Forecasts & Analysis (2014 - 2019)" defines and segments global Quality and lifecycle management software market into various sub-segments with in-depth analysis and forecasting of revenues. This report also identifies drivers and restraints for this market with insights into latest trends, opportunities, and challenges.

The major driving forces which are enabling the growth of this market are: demand for low manufacturing cost, increasing demand in small and medium business and across consumer goods and retail, healthcare and life science and transportation, which are the influencing the growth of this market.

Some of the products which are gaining traction and investment from various vendors are Bills of Material, change management, cost management, data management, compliance and governance management and new product introduction and development management. Some of the major providers are Oracle, SAP, Autodesk, PTC, Arena PLM, Aras and others. These vendors have uniquely positioned themselves in the market with propagation of new product developments and lucrative partnerships and acquisitions.

The new report, now available on ASDReports has segmented this market by solutions, deployment types, organization size, verticals and regions.

The new report forecasts the quality and lifecycle management software market is expected to grow from $14.29 billion in 2014 to $20.41 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 7.4% from 2014 to 2019. Automotive and transportation industry is expected to be the biggest contributor in terms of revenue contribution, while the growing markets of consumer goods and retail along with aerospace and defense, and Hi-Tech, Telecom and IT are expected to experience increased market traction with high CAGR’s, during the forecast period.