Top 3 Trends Impacting the Global PLM Market in Consumer Goods Industry Through 2020: Technavio
LONDON–(BUSINESS WIRE)–#ConsumerGoods–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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