Consumer Products and Retail Market : Industry Analysis, Opportunity Assessment and Forecast upto 2025
Product lifecycle management (PLM) represents an overall vision and systematic data management related to the product design, production, support, as well as its ultimate disposal in a product development process in organizations.PLM provides many benefits to organizations, such as significant reduction in time-to-market the product, production cost minimization, and product quality and reliability enhancement. The various challenges faced by product development teams in enterprises include globalization, growing demand for mass customization, and quick innovation. The shift from traditional end-use sectors to non-traditional end-use sectors such as retail and consumer products and packaged goods and the growth of modern grocery retail stores in emerging economies are the key factors driving the growth of PLM market for consumer products and retail end-use, globally. In addition, small and mid-sized companies are leveraging on cloud-based PLM solutions for high ROI and need for increas...