Retail Product Lifecycle Management market projected to reach $1.16 billion by 2030 with 14.5% CAGR

From GlobeNewswire: 2024-12-03 09:30:00

QKS Group has released two reports titled “Market Share: Retail Product Lifecycle Management (RPLM), 2023, Worldwide” and “Market Forecast: Retail Product Lifecycle Management (RPLM), 2024-2030, Worldwide.” The reports project the RPLM market to reach $1.16 billion by 2030, with a CAGR of 14.5% from 2023 to 2030. The key players in the market include Blue Yonder, Oracle, SAP, and more.

The reports aim to answer questions about historical market sizes and forecasts, high-growth market segments, major drivers, challenges, players, strategies, geographic trends, and emerging local players in the RPLM market. Analyst Prakhar Bansal highlights the importance of PLM platforms for retailers to innovate and stay competitive, especially with a focus on sustainability, regulatory compliance, and personalized consumer experiences.

Retail Product Lifecycle Management (RPLM) Market Segmentation includes applications across industries like Retail & eCommerce, IT & Telecom, Healthcare, and more, with geographic divisions like Asia, China, USA, and deployment types. The market is being driven by the demands for quicker time-to-market, sustainable practices, and technological advancements such as AI, ML, and cloud-based solutions to enhance collaboration and efficiency.

The adoption of cloud-based PLM solutions is accelerating, offering scalability and ease of access for global collaboration. Advancements in technology like AI, ML, IoT, AR, and VR tools are transforming Retail PLM systems by enabling predictive analytics, optimizing inventory, and enhancing product design and visualization. The market is poised for significant growth as vendors invest in advanced technologies to meet evolving retail needs.

PLM technology is becoming essential for retailers to remain competitive in the dynamic market, optimizing product lifecycles, improving collaboration, and leveraging data-driven insights. The integration of advanced technologies like AI, ML, IoT, and cloud computing is expected to redefine PLM systems, enabling more efficient product development cycles and innovation. Retailers are increasingly adopting PLM solutions to streamline processes and meet consumer demands for sustainability and transparency.



Read more at GlobeNewswire: Retail Product Lifecycle Management (RPLM) Market Size