PLM market grew 10% in 2004

Overall growth in the worldwide PLM market reached $16.9 billion in 2004 and is expected to grow to nearly $25 billion by 2009, according to CIMdata Enterprises Inc.

The performance reflects strength in the global economy and confidence in PLM by industrial companies. CIMdata forecasts overall PLM investments will continue growing at a solid pace for the next five years reaching almost $25 billion by 2009, for a compound growth rate of about 8%.

CIMdata defines the PLM market as comprised of authoring and analysis tools (such as CAD/CAM, MDA, EDA, CASE, etc.) and collaborative Product Definition management (cPDm). The cPDM segment of the market focuses on collaboration, management, and sharing of product-related information.