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Product Lifecycle Management Market worth $58.52 billion by 2031 | Report by MarketsandMarkets™

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DELRAY BEACH, Fla., June 23, 2026 /PRNewswire/ — According to MarketsandMarkets™, the Product Lifecycle Management Market is projected to grow from USD 36.60 billion in 2026 and to reach USD 58.52 billion by 2031, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period.

Browse 200 market data Tables and 180 Figures spread through 300 Pages and in-depth TOC on ‘Product Lifecycle Management Market – Global Forecast to 2031’

Product Lifecycle Management Market Size & Forecast:

Market Size Available for Years: 2021–20312026 Market Size: USD 36.60 billion2031 Projected Market Size: USD 58.52 billionCAGR (2026–2031): 9.8%

Product Lifecycle Management Market Trends & Insights:

As organizations continue prioritizing digital transformation and product innovation, PLM is expected to play a critical role in enabling competitive differentiation and sustainable growth.By offering, the software segment is expected to exhibit a higher CAGR (10.5%) than the services segment during the forecast period.By software type, the product data management segment is expected to capture the largest market size of USD 9.59 billion by 2031.By organization size, the SMEs segment is expected to exhibit a higher CAGR than the large enterprises segment during the forecast period.The Product Lifecycle Management Market is projected to grow at the highest rate in the Asia Pacific region during the forecast period.

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Product lifecycle management (PLM) has evolved from a product data repository into a strategic enterprise platform that enables organizations to manage product information, engineering processes, and collaboration throughout the entire product lifecycle—from concept and design to manufacturing, service, and end-of-life. PLM integrates capabilities such as product data management, engineering change management, bill of materials management, digital thread, quality and compliance management, and service lifecycle management to provide a single source of truth across product development functions. The increasing complexity of products, growing adoption of software-defined products, and rising demand for digital continuity are encouraging enterprises to modernize legacy product development environments. By connecting engineering, manufacturing, quality, supply chain, and service operations, PLM enables organizations to improve product quality, reduce development costs, accelerate time-to-market, and strengthen regulatory compliance. The integration of cloud technologies, AI-enabled engineering, digital twins, and model-based systems engineering is further enhancing the value of PLM solutions by enabling predictive insights, real-time collaboration, and lifecycle traceability. Enterprises across automotive, aerospace & defense, industrial equipment, electronics, healthcare, and energy sectors are increasingly leveraging PLM to support innovation and improve operational efficiency. As organizations continue prioritizing digital transformation and product innovation, PLM is expected to play a critical role in enabling competitive differentiation and sustainable growth.

By offering, software segment to hold larger market share than services segment during forecast period

The software segment is expected to account for a larger share of the PLM Market during the forecast period. PLM software serves as the foundation for managing product data, engineering changes, requirements, configurations, quality records, and supplier collaboration within a connected environment. The increasing adoption of cloud-native PLM platforms, digital thread initiatives, AI-enabled engineering capabilities, and digital twin technologies is encouraging enterprises to invest in advanced software platforms rather than standalone engineering tools. For instance, Siemens’ April 2025 announcement to acquire Dotmatics for USD 5.1 billion, strengthening its AI-powered lifecycle management capabilities and expanding its digital engineering portfolio. This transaction reflects the strategic importance of PLM software as vendors increasingly focus on integrating advanced analytics, sustainability capabilities, and software-driven innovation into their offerings. Organizations are also prioritizing enterprise-wide lifecycle visibility and cross-functional collaboration to accelerate innovation and improve productivity. As enterprises continue modernizing product development environments and connecting engineering with downstream functions, investments in PLM software are expected to outpace services, enabling the segment to maintain its leadership position throughout the forecast period.

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By product type, software-defined products segment to register highest CAGR during forecast period

Software-defined products are expected to register the highest CAGR in the PLM Market during the forecast period, driven by the increasing role of software in shaping product functionality, performance, and customer experience. These products include software-defined vehicles, connected industrial equipment, intelligent medical devices, smart consumer electronics, and IoT-enabled systems where software capabilities continue to evolve after commercialization. Managing these products requires organizations to integrate software development with traditional hardware engineering processes while maintaining traceability across requirements, testing, validation, cybersecurity, and release management activities.

According to Perforce’s 2026 State of Automotive Software Development Report, released in March 2026, 70% of automotive software professionals reported using AI to optimize software-defined vehicle systems, while 53% identified managing increasing software complexity as their greatest quality concern. These findings highlight the growing challenges associated with software-intensive product development and the increasing need for integrated lifecycle management platforms. PLM solutions enable organizations to establish digital continuity between hardware and software teams, support over-the-air updates, and manage continuous engineering processes. As industries increasingly transition toward intelligent and connected products, software-defined products are expected to create significant growth opportunities for PLM vendors throughout the forecast period.

North America to account for largest market share during forecast period

North America is estimated to account for the largest share of the PLM Market during the forecast period, driven by the region’s mature technology landscape, early adoption of digital engineering practices, and strong presence of product-centric industries. Organizations across the US and Canada are increasingly leveraging PLM platforms to improve collaboration between engineering, manufacturing, quality, procurement, and service teams while establishing a connected product development environment. PLM has become a strategic investment for enterprises seeking to accelerate innovation, reduce product development costs, enhance traceability, and shorten time-to-market in increasingly competitive markets. The region is witnessing growing adoption of cloud-native PLM platforms, digital thread initiatives, digital twin technologies, model-based systems engineering (MBSE), and AI-enabled engineering capabilities.

North American enterprises are moving beyond traditional product data management approaches and investing in enterprise-wide lifecycle platforms that provide end-to-end visibility across the product lifecycle. Industries such as aerospace & defense, automotive, industrial equipment, electronics & semiconductor, healthcare & medical devices, and high-tech manufacturing are increasingly utilizing PLM to manage multidisciplinary product development processes, support configuration control, streamline engineering changes, and improve compliance management. Furthermore, the growing focus on software-defined products and connected devices is increasing the need for integrated lifecycle management solutions capable of linking hardware and software development activities. Organizations are also prioritizing interoperability between PLM and enterprise applications such as CAD, ERP, MES, ALM, and quality management systems to create a unified digital thread across operations. Vendors that offer scalable deployment models, industry-specific functionality, advanced analytics, and seamless integration capabilities are well-positioned to capitalize on emerging opportunities within the region. Supported by its strong innovation ecosystem, advanced manufacturing capabilities, and sustained investments in digital transformation, North America is expected to maintain its leadership position in the global PLM Market throughout the forecast period.

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Top Companies in Product Lifecycle Management Market:

The Top Companies in Product Lifecycle Management Market include Siemens (Germany), Dassault Systèmes (France), PTC (US), Autodesk (US), SAP (Germany), Oracle (US), Aras (US), Infor (US), ANSYS (US), and IBM (US).

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About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

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China Southern Power Grid: Powering Asia-Pacific Prosperity Through Energy Cooperation

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September 7, 2026

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SHENZHEN, China, Sept. 7, 2026 /PRNewswire/ — The following is a news report from Xinhuanet:

The Asia-Pacific Media Forum opened in Shenzhen, Guangdong Province, on September 5 under the theme “Building a Path to Shared Prosperity for the Asia-Pacific Community: Media Consensus and Action.” Qian Chaoyang, Chairman and Party Secretary of China Southern Power Grid Co., Ltd. (CSG), attended the forum and delivered remarks.

The Asia-Pacific region is a major engine of global economic growth, and clean, low-carbon, secure and efficient energy is essential to keeping that engine running smoothly. The region accounts for a significant share of global energy consumption. Its countries vary widely in their energy resources but have strong potential to complement one another, creating substantial opportunities for greater regional energy connectivity. CSG has consistently supported efforts to build an Asia-Pacific community with a shared future and has worked to become an important force in advancing energy connectivity across the region.

CSG highlighted progress in six areas across the Greater Bay Area: power supply, grid reliability, clean-energy integration, transmission technology, artificial intelligence and regional cooperation. Total electricity consumption across the Greater Bay Area exceeded 700 TWh, ranking ahead of the world’s other major bay areas; a stronger power grid, with average annual outage time per customer of less than 30 minutes and power supply reliability maintained at a world-class level; cleaner power, with approximately 180 billion kWh of clean electricity transmitted to the Greater Bay Area annually through the West-to-East Electricity Transmission project, installed renewable energy capacity exceeding 93 GW, and clean energy accounting for more than half of total installed capacity; more active innovation, with world-leading expertise in areas including complex large-scale power grid operations and flexible ultra-high-voltage direct-current (UHVDC) transmission; a smarter power system, with CSG’s proprietary power-sector foundation model, “Big Watt • Yudian,” receiving the top award at the World Artificial Intelligence Conference; and more open collaboration, with CSG launching and regularly convening the Guangdong-Hong Kong-Macao Power Enterprise Summit and establishing the Greater Bay Area Power Development Cooperation Organization to advance open, mutually beneficial regional power cooperation.   

CSG is also contributing to the development of an Asia-Pacific community with a shared future by sharing its experience in building, operating and governing the “electricity-powered Greater Bay Area,” as well as its experience in regional cooperation. The company has built 17 high-voltage power transmission links with Vietnam, Laos and Myanmar and is exploring the development of a regional electricity market in the Lancang-Mekong region. More than 84 TWh of electricity has already been exchanged across national borders, with clean energy accounting for more than 90% of the total.

Pluz Energía Perú, operated by CSG, ranks first in its local market for power supply reliability, while power outages in three demonstration zones established in partnership with Laos have declined by 70%. CSG has also hosted the Global South Power Partnership Development Forum and signed more than 50 partnership agreements. The company has trained nearly 2,000 energy professionals from partner countries and implemented a number of small-scale, high-impact community projects, including the Vinh Tan Light initiative in Vietnam and the Dok Champa project in Laos.

Looking ahead, CSG said it plans to work with regional partners to capitalize on complementary energy resources and expand cross-border energy cooperation across the Asia-Pacific.

The forum brought together more than 400 representatives from over 40 countries and regions, as well as United Nations agencies and international organizations.

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SOURCE Xinhuanet

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Frost & Sullivan Appoints Janesh Janardhanan as Global Partner and Head of Subscriptions

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September 7, 2026

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Janardhanan to lead the strategic direction, commercial growth and global expansion of Frost & Sullivan’s analytics, subscription and Growth Generator platforms

SAN ANTONIO, Sept. 7, 2026 /CNW/ — Frost & Sullivan, the global analytics and growth advisory firm, today announced the appointment of Janesh Janardhanan as Global Partner and Head of its Subscriptions business. In this role, Janardhanan assumes P&L leadership of the company’s global subscription portfolio, encompassing its analytics business, its subscriptions platform, and its Growth Generator data platform.

The appointment reflects Frost & Sullivan’s continued investment in its recurring-revenue subscription offerings, which provide clients worldwide with continuous access to intelligence, growth opportunity analytics, and decision-support tools. Janardhanan will be responsible for driving the strategic direction, commercial performance, and global expansion of these platforms.

“I am honored to take on the leadership of Frost & Sullivan’s Subscriptions business at such a pivotal moment,” said Janesh Janardhanan, Global Partner and Head of Subscriptions, Frost & Sullivan. “Our analytics, data, and Growth Generator platforms sit at the heart of how clients identify and act on their next opportunities for growth. My focus will be on deepening the value we deliver, scaling our platforms globally, and ensuring our subscribers stay ahead of the transformations reshaping their industries.”

Janardhanan brings extensive experience in commercial leadership, analytics, and growth strategy to the role. He is a graduate of Harvard Business School (GMP) and holds an MBA and a Bachelor of Engineering from the National University of Singapore.

Under his leadership, Frost & Sullivan’s Subscriptions business will continue to expand its coverage, enrich its content and data assets, and strengthen the technology platforms that power insight and growth for organizations across the globe.

About Frost & Sullivan

For more than six decades, Frost & Sullivan has helped clients accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company’s Growth Pipeline as a Service provides corporate leadership teams and their growth strategy partners with continuous research, insight, and analytics that drive transformational growth strategies. For more information, visit www.frost.com.

Your Transformational Growth Journey Starts Here: Schedule Your Growth Pipeline Dialog™ with the Frost & Sullivan team.

Media Contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com

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SOURCE Frost & Sullivan

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Sony Electronics and Hello Kitty Team Up for Limited-Edition Headphone Collection

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September 7, 2026

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Sony Store-exclusive bundles pair select Sony headphones with custom Hello Kitty accessories featuring thoughtful, character-inspired design details

SAN DIEGO, Sept. 7, 2026 /PRNewswire/ — Sony Electronics Inc. today announced a limited-edition collaboration with Hello Kitty, one of Sanrio’s most beloved and recognizable characters. Available only through the Sony Store, the collection pairs select Sony headphones with exclusive Hello Kitty collaboration merchandise, bringing together Sony’s premium audio experience and Hello Kitty’s iconic charm. Pre-orders begin later this holiday season1.

The limited-edition collaboration is available with the following Sony headphones:

WH-1000XM6 Wireless Noise Canceling HeadphonesWH-CH730N Wireless Noise Canceling HeadphonesWH-CH530 Wireless Headphones

Available with select pink/sand pink and black colorways of the WH-1000XM6, WH-CH730N, and WH-CH530 headphones, each collaboration bundle includes a Sony Store exclusive Hello Kitty carrying case and tote bag2. Designed to hold headphones and added space for everyday essentials, the carrying case blends Hello Kitty’s signature charm with Sony’s premium, minimalist design aesthetic. Thoughtful details throughout the collaboration celebrate Hello Kitty’s world and her connection to music, entertainment, and everyday creativity, while each headphone model is paired with its own uniquely designed tote bag for everyday use.

Bringing together Sony’s audio expertise and Hello Kitty’s timeless appeal, the limited-edition collection celebrates self-expression, entertainment, and personal style. The exclusive accessories allow fans to enjoy Hello Kitty’s iconic world not only while listening to music, but also as part of their everyday routine at home and on the go.

To receive updates on this collaboration bundle, please visit https://cloud.email.sel.sony.com/HelloKittyxSony 

About Sony Electronics Inc.

Sony Electronics is a subsidiary of Sony Corporation of America and an affiliate of Sony Group Corporation, one of the most comprehensive entertainment companies in the world, with a portfolio that encompasses electronics, music, motion pictures, mobile, gaming, robotics and financial services. Headquartered in San Diego, California, Sony Electronics is a leader in electronics for the consumer and professional markets. Operations include research and development, engineering, sales, marketing, distribution, and customer service. Sony Electronics creates products that innovate and inspire generations, such as the award-winning Alpha Interchangeable Lens Cameras and revolutionary high-resolution audio products. Sony is also a leading manufacturer of end-to-end solutions from 4K professional broadcast and A/V equipment. Visit http://www.sony.com/news for more information.

About Sanrio

Sanrio is the global lifestyle brand best known for Hello Kitty, who was created in 1974, and home to many other beloved character brands such as My Melody, Kuromi, LittleTwinStars, Cinnamoroll, Pompompurin, gudetama, Aggretsuko, Chococat, Badtz-maru and Keroppi. Sanrio was founded on the philosophy that a small gift can bring happiness and friendship to people of all ages. Since 1960, this philosophy has served as the inspiration to offer quality products, services, and activities that promote communication and inspire unique consumer experiences across the world. Today, Sanrio’s business extends into the entertainment industry with several content series, gaming offerings, and theme parks. Sanrio boasts an extensive product lineup that is available in over 130 countries. Sanrio hopes to bring smiles to everyone’s faces with their vision of “One World, Connecting Smiles.” To learn more about Sanrio, please visit www.sanrio.com and follow @sanrio and @hellokitty on Facebook, Instagram, Twitter, TikTok, Pinterest, and subscribe to the Hello Kitty and Friends YouTube Channel.

1 The collaboration will be available in limited quantities in select countries and regions. Available headphone models will vary by market and may include the WH-1000XM6, WH-CH730N and WH-CH530
2 Availability of collaboration bundles and headphone models varies by country/region.

 

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SOURCE Sony Electronics, Inc.

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