Product Lifecycle Management in Apparel Market Overview and Growth by 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

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.

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 The 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.

Product Lifecycle Management in Apparel Market Report Scope

Product Lifecycle Management in Apparel Market Players Density: Understanding Its Impact on Business Dynamics

The Product Lifecycle Management in Apparel 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.

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