Collaborative Product Definition Management or Collaborative Product Development Management (CPDM) Market is expected to witness high growth in the forecasted period owing to the increasing awareness among individuals or organizations to reduce cost and time through Product Lifecycle Management. It is basically a business strategy that collects software applications which allow different organizations to work together on developing a product. It helps companies or individual users to view, manage and share the Computer Aided Design projects without incurring much cost and complexity in purchasing an entire Product Lifecycle Management (PLM) solutions.
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Collaborative Product Definition Management market and their impact in the
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PLM is a strategic business
approach that applies a consistent set of business solutions to help the
collaborative creation, management, and dissemination across the extended
enterprise from the concept to end of life. CPDM also allows the organization
to maintain system architecture, deployment of security mechanism, and
prototype development and enables them in forming a collaborative architecture,
shared resources and shared team spaces to work together as virtual teams.
CPDM help in effective
product data management, collaborative product commerce, collaborative product
visualization, effective integration of CPDM with enterprise applications and
supplier relationship management. Its solutions assist in manufacturing and
production processes for efficient business operations. Ultimately, it helps in
bringing innovative and profitable products that enables in evolving the e
business web based environment.
These software solutions
are adopted by industries such as electronics, automotive, industrial
machinery, aerospace, defense, petrochemical, and process packaged goods.
Automotive manufactures face product recalls across wide ranging categories due
to which PLM software such as CPDM, CAD, CAE and CAM help them in reducing
defects which eventually help them in catering maximum demand. Increased
investments in R&D and growing demand for improved safety features are some
of the factors that drive the growth of the market.
Key drivers that propel the
market are increasing competition, demand of new product development, cost
reduction, and increasing integration between different industries. Other
factors that help in CPDM are product development, product costing, engineering
collaboration, and ease in using PLM solutions. The need of CPDM comes from the
increasing PLM applications which are catered by expanding global R&D
footprint, and accelerating product development.
The market is segmented
geographically into North America, Europe, Asia Pacific, Latin America and
Middle East. North America and Europe regions account for the highest market
share due to the presence of large companies that provide Product Lifecycle
Management solutions, and due to the awareness among enterprises to integrate business
processes. Particularly in North America, the US is expected to remain global
leader in the market, as it accounts for many firms that are dedicated in
collaborative product definition management. The Asia Pacific region is
expected to witness the fastest growth in the market as it has many companies
that are moving towards PLM solutions to reduce cost and time. On the other
hand, the Middle East & African region is a high potential market which
still needs attention to work on collaborative product development management.
These regions generally have oil refineries companies which still can be
integrated with other companies to provide PLM solutions.
Major players that provide
CPDM solutions in the market are Dassault, Siemens, PTC, Synopsys, Deloitte,
HP, TCS, Capgemini, and Accenture. These companies are playing a major role in
providing PLM solutions and have expanded themselves from the traditional
services such as the installation of software to being an integral part of the
company through real time monitoring in product development basis.
The company Siemens
provides PLM software which is specialized in 2D & 3D product lifecycle
management. Its products include NX, CAD/CAE/CAM, Team Centre, an integrated
set of PLM and collaboration tools, Technomatrix, and Velocity Series. Whereas
the company Dassault Systems is a European multinational company that develops
3D design, 3D digital mock up, and product lifecycle management solutions. Its
product includes CATIA, Solidworks, DELMIA, SIMULIA, 3DVIA, EXALEAD and
NETVIBES. Its product DraftSight is a free 2D CAD program which is free for
individuals and compatible in .DWG format to provide PLM solutions in various
ways.
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