Product Lifecycle Management In Apparel Market Scope 2031
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.
Product Lifecycle Management in Apparel Market Analysis
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.
Product Lifecycle Management in Apparel Market Overview
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.
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Product Lifecycle Management in Apparel Market: Strategic Insights
Market Size Value in US$ 644.1 Million in 2018 Market Size Value by US$ 1,825.3 Million by 2027 Growth rate CAGR of 12.5% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Product Lifecycle Management in Apparel Market: Strategic Insights
| Market Size Value in | US$ 644.1 Million in 2018 |
| Market Size Value by | US$ 1,825.3 Million by 2027 |
| Growth rate | CAGR of 12.5% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Product Lifecycle Management in Apparel Market Drivers and Opportunities
Rise in Digital Manufacturing in the Apparel Industry to Boost the Market
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.
Prominence of Digital Transformation
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.
Product Lifecycle Management in Apparel Market Report Segmentation Analysis
Key segments that contributed to the derivation of the product lifecycle management in apparel market analysis are type and end-user.
- Based on type, the market is bifurcated into CAD & CAM and PDM/CPDM. The CAD & CAM segment held a significant market share in 2023.
- In terms of end-users, the market is segmented into retailers, manufacturers, and others. The manufacturers segment held a substantial share of the market in 2023.
Product Lifecycle Management in Apparel Market Share Analysis by Geography
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.
Product Lifecycle Management in Apparel Market Report Scope
Product Lifecycle Management in Apparel Market News and Recent Developments
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:
- Aptean, a global provider of mission-critical enterprise software solutions, announced the acquisition of Momentis, a provider of purpose-built software solutions designed for the fashion, apparel, footwear, textile, and accessories industries.
(Source: Aptean Inc., Press Release, 2024)
- Infor®, the industry cloud company, today announced the availability of a dedicated interface between Made2Flow, a tech company specializing in the analysis and validation of environmental data in the fashion industry, and Infor product lifecycle management (PLM). The interface will facilitate the processing of data and full visibility for global fashion brands looking to increase the transparency of the production supply chain. Crucially, it will support traceability and impact measurement across tiers one to four.
(Source: Infor, Press Release, 2023)
Product Lifecycle Management in Apparel Market Report Coverage and Deliverables
The “Product Lifecycle Management in Apparel Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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