Fashion Apparel PLM Software Market: Current Analysis and Forecast (2023-2030)

Report Description

Fashion Apparel PLM Software Market Size & Forecast

The Fashion Apparel PLM Software Market was valued at 1.78 billion in the year 2022 and is expected to grow at a strong rate of around 12.08% during the forecast period (2023-2030), owing to the increasing production of clothing and apparel with the surge in demand.

Fashion Apparel PLM Software Market Analysis

One of the primary drivers behind the increasing demand for fashion and apparel products is the rise of e-commerce. With the convenience of online shopping, consumers now have access to a vast array of fashion options from around the world at their fingertips. Furthermore, social media platforms have also played a crucial role in fueling the demand for fashion and apparel products. Influencers and celebrities regularly showcase trendy outfits and styles to their followers, driving consumer interest and influencing purchasing decisions. For instance, according to a study by Bazaarvoice, 70% of consumers are more likely to make a purchase based on social media recommendations, highlighting the significant impact of social media on fashion consumption. Moreover, the growing demand for fashion and apparel products has also spurred an increased interest in fashion apparel Product Lifecycle Management (PLM) software in the markets. PLM software helps fashion companies streamline their product development processes, manage supply chains efficiently, and reduce time-to-market for new products. As companies strive to meet the demands of an ever-evolving fashion industry, the adoption of PLM software has become crucial for staying competitive.

Some of the major players operating in the market include Adobe; Autometrix Precision Cutting Systems, Inc.; Siemens; Corel Corporation; Autodesk Inc.; CGS; TUKATECH; VetiGraph; C-DESIGN Fashion; and K3 Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Fashion Apparel PLM Software Market Trends

“Amongst functionalities, the product data management and specification management segment held the significant market share in terms of value in 2022.”

Based on functionalities, the market is categorized into product data management and specification management, line planning, collaborative product design, development process management, workflow, calendar, and event management, and trading partner collaboration. One of the core functionalities that generates maximum demand for PLM software is Product Data Management and Specification Management. This feature enables fashion brands to centralize and manage all product-related information, including design specifications, materials, and pricing. By providing a single source of truth for product data, companies can reduce errors, improve accuracy, and enhance decision-making processes throughout the product lifecycle. Furthermore, Line Planning is another critical aspect that holds a significant market share within the fashion apparel PLM software segment. Several factors contribute to the market domination of these core functionalities within the fashion apparel PLM software segment. For instance, the increasing complexity and globalization of supply chains in the fashion industry necessitate robust solutions that can manage vast amounts of data, streamline processes, and foster collaboration across geographies, and are playing a pivotal role in fueling the growth in demand for the fashion apparel PLM software in the global markets.

“Amongst applications, the reduction in time to market has been the most important aspect for the demand of fashion apparel PLM software in 2022.”

Based on application, the market is segmented into sales growth, margin expansion, reduction in working capital, reduction in time to market, productivity boost, and increased inventory turnover. The reduction in time to market application stands out as a critical factor for businesses in the fashion apparel industry. This is because the fashion industry is highly competitive, with trends changing rapidly and consumer preferences evolving constantly. As a result, companies need to innovate quickly and efficiently to stay ahead of the curve. Furthermore, the fashion industry operates on a seasonal basis, with companies releasing new collections multiple times a year. Quick turnaround times are crucial to ensure that products are available to consumers at the right time. Moreover, faster time to market can lead to cost savings for companies by reducing production lead times, minimizing inventory holding costs, and avoiding markdowns on out-of-season merchandise. By leveraging PLM software, businesses in the fashion apparel industry can streamline their design, development, and production processes, enabling them to bring new products to market more quickly and efficiently. PLM software provides a centralized platform for managing product data, collaboration, and workflow automation, helping companies reduce errors, improve communication, and accelerate time to market.

“Asia Pacific is expected to experience a substantial growth in the widespread adoption in the predicted timeframe (2023-2030).”

Asia Pacific is expected to experience substantial growth in the predicted timeframe. One of the key factors driving Asia Pacific’s dominance in clothing and apparel manufacturing is its cost-effective labor force. Countries like China, Bangladesh, Vietnam, and India offer competitive labor costs, making production more affordable for companies. Furthermore, the region’s rapid urbanization has created a burgeoning middle-class population with higher disposable incomes. This demographic shift has fueled the demand for trendy clothing and apparel items, driving the growth of the industry. Moreover, with a vast network of manufacturing facilities and skilled labor, Asia Pacific has become the largest exporter of clothing and apparel products worldwide. China, Bangladesh, and Vietnam are among the top exporters in the region. As Asia Pacific solidifies its position as the biggest manufacturer, exporter, and consumer of clothing and apparel products, the demand for Fashion Apparel Product Lifecycle Management (PLM) software has witnessed a significant surge. PLM software streamlines the design, production, and distribution processes in the fashion industry, helping companies enhance efficiency and stay competitive in the market.

Fashion Apparel PLM Software Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Fashion Apparel PLM Software market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Fashion Apparel PLM Software Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Fashion Apparel PLM Software market were the three major steps undertaken to create and analyze the adoption of Fashion Apparel PLM Software in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Fashion Apparel PLM Software market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Fashion Apparel PLM Software market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Fashion Apparel PLM Software market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as functionalities, application, and stages of application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Fashion Apparel PLM Software market. Further, we conducted factor analysis using dependent and independent variables such as functionalities, application, and stages of application of the Fashion Apparel PLM Software market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Fashion Apparel PLM Software market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Fashion Apparel PLM Software market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Fashion Apparel PLM Software market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Fashion Apparel PLM Software market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Fashion Apparel PLM Software market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of purity and application in the global Fashion Apparel PLM Software market.

The main objective of the Global Fashion Apparel PLM Software Market Study

The current & future market trends of the global Fashion Apparel PLM Software market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Fashion Apparel PLM Software market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of functionalities, application, and stages of application.
• Define and analyze the regulatory framework for the Fashion Apparel PLM Software
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Fashion Apparel PLM Software market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Fashion Apparel PLM Software market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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