Product Lifecycle Management In Apparel Market to phenomenally drive the global landscape over 2020-2027

"Product lifecycle management in apparel market in global is expected to grow from US$ 644.1 Mn in 2018 to US$ 1,825.3 Mn by the year 2027. This represents a CAGR of 12.5% from the year 2020 to 2027."

According to the new research report published by The Insight Partners, titled "Product Lifecycle Management in Apparel Market - Global Analysis and Forecast to 2027", the global product lifecycle management in apparel market is expected to reach US$ 1.82 Bn by 2027, registering a CAGR of 12.5% during the forecast period 2019-2027.

In 2018, Europe the global product lifecycle management in apparel market accounted for the largest share, growing at a CAGR of 11.7%

Presently, the apparel industry is facing significant challenges. The introduction of technologies such as Big Data, along with products technology innovation and production automation, has offered lucrative opportunities to the players operating in the apparel industry. The adoption of automated technologies such as PLM offers benefits such as faster delivery time, lower cost, higher speed, as a result of lower stocks and reduced shipping times.

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The EU region remains a chief producer of the textile as well as apparel. According to the Statistical Classification of Economic Activities, in 2017, the value of EU’s textile & apparel production accounted for € 142.9 Bn. This value was divided nearly equally between textile manufacturing and apparel manufacturing. Apparel manufacturing in the EU region comprises of two key categories: first is mid-priced products manufactured mostly in developing economies in Eastern and Southern Europe for mass consumption. Another category is the high-end luxury apparel manufactured in Western EU economies, such as Italy, Germany, U.K., and France.

Almost two decades ago, the regions’ mass-market apparel brands increasingly shifted their production to Asian countries, particularly China, for gaining cost-advantage. However, since then, their focus was on to shift on even more cost-efficient markets to ensure high quality, compliance, and speed. These benefits have helped them to deliver products at the best prices, thereby efficiently compete in the market.

Today, the apparel industry is at an intersection, where speed is more important than marginal cost advantage, and basic compliance is elevated to an integrated sustainability approach. The apparel companies are now focusing on increasing nearshoring and implementing more automated production models have the prospective to allow sustainability further. Mass-market apparel companies that are implementing automation technologies to become faster, as well as more sustainable, are expected to better compete in the market in the next few years.

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Table of Content:

Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Product Lifecycle Management in Apparel Market - By Type
1.3.2 Global Product Lifecycle Management in Apparel Market - By End-user
1.3.3 Global Product Lifecycle Management in Apparel Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Product Lifecycle Management in Apparel - Market Landscape
4.1 Market Overview
4.2 PEST ANALYSIS
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 APAC PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Product Lifecycle Management In Apparel Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Industry 4.0 is Having Positive Impact on Market Growth
5.1.2 Rise in Automation in Apparel Industry Produces Significant Growth
5.2 Key Market Restraints
5.2.1 Small Retail Business Might Face Challenges in Integrating PLM
5.3 Key Market Opportunities
Continue….

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This release was published on openPR.