The product lifecycle management in apparel market size is projected to reach US$ 2.98 billion by 2031 from US$ 1.16 billion in 2023. The market is expected to register a CAGR of 12.5% in 2023–2031. Circular economy & sustainable practices and emphasis on digital transformation are likely to remain key product lifecycle management in apparel market trends.
Swift shifts in consumer tastes characterize the fashion industry and shorter product life spans, adding to its intricacy. These changes create difficulties and prospects in multiple areas of the sector, such as manufacturing, production methods, standards, and advertising and marketing efforts.
In the apparel industry, product lifecycle management (PLM) is a strategic approach to overseeing the entire journey of a product, from its initial design and development to its official launch, service, and disposal. This comprehensive method involves managing all the activities related to a product's lifecycle, such as manufacturing, marketing, and eventual removal from the market. Through the PLM approach, the industry can analyze how well a product is received by the market over time, including significant fluctuations in sales.
The rise of digital manufacturing in the apparel industry is expected to have a significant impact on the requirement for robust and reliable product lifecycle management (PLM) systems. This is largely due to the complex processes involved in digital manufacturing, including conception, design, planning, and execution, all of which require extensive use of PLM software like CAD and CAM. As a result, the expansion of digital manufacturing is predicted to boost the need for PLM systems, thus driving the progress of product lifecycle management in the apparel market over the forecasted period.
The continuous shift towards digitalization has opened up new avenues for innovation, incorporating advanced technologies such as machine learning (ML), artificial intelligence (AI), robotics, and the Internet of Things (IoT) to lead the way into the era of the fourth industrial revolution (Industry 4.0). In Industry 4.0, the blending of electronics and information technology facilitates the seamless digital integration of the physical, digital, and biological aspects of modern human life. This marks a significant change for the manufacturing industry, particularly in the production of mass-manufactured goods like clothing and footwear, as Industry 4.0 instigates a revolutionary transformation.
Key segments that contributed to the derivation of the product lifecycle management in apparel market analysis are type and end-user.
The geographic scope of the product lifecycle management in apparel market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Product lifecycle management in the apparel market in Europe encompasses the management of the entire lifecycle of fashion products, addressing the unique challenges posed by fast-moving trends and consumer preferences. The market is expected to experience significant growth, and adapting to changing market dynamics presents opportunities for businesses in the European apparel industry.
The regional trends and factors influencing the Product Lifecycle Management in Apparel Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Product Lifecycle Management in Apparel Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.16 Billion |
| Market Size by 2031 | US$ 2.98 Billion |
| Global CAGR (2023 - 2031) | 12.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Product Lifecycle Management in Apparel Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Product Lifecycle Management in Apparel Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The product lifecycle management in apparel market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: Aptean Inc., Press Release, 2024)
(Source: Infor, Press Release, 2023)
The “Product Lifecycle Management in Apparel Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The market was estimated to be US$ 1.16 billion in 2023 and is expected to grow at a CAGR of 12.5% during the forecast period 2023 - 2031.
The growth in digital manufacturing in the apparel industry is the major factor that propels product lifecycle management in apparel market.
Circular economy and sustainable practices are anticipated to play a significant role in the product lifecycle management in apparel market in the coming years.
The key players in the market are C-DESIGN Fashion, Computer Generated Solution, Dassault Systemes, EFI Optitex, and Gerber Technology LLC.
The market is expected to reach US$ 2.98 billion by 2031.