According to CIMdata, Inc., overall growth in the worldwide Product Lifecycle Management (PLM) market approached 10% to reach $16.9 billion during 2004.
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.