PTC (Nasdaq: PMTC) today announced that it has been ranked a leading provider of product lifecycle management (PLM) solutions in China by independent global PLM strategic management consulting and research firm CIMdata, Inc. In its 2013 China PLM Market Report just issued, CIMdata identified PTC as the clear market leader in four categories: Mainstream PLM and collaborative Product Definition management (cPDM), as well as the Aerospace & Defense and Electronics & High Tech vertical industries.
This recognition of leadership comes as PTC celebrates 20 years in business in the fast growing China market. CIMdata predicts that the China PLM market will maintain rapid growth. The report indicates that the five-year Compound Annual Growth Rate (CAGR) for calendar years 2013 through 2017 is forecast to be approximately 16.1% and that the 2013 growth rate is forecast to be approximately 16.2%. The report further states that A&D is the largest and fastest growing industry sector in the China PLM market.
"PTC continues to experience success in the China market due to the strength of its PLM offerings and its ongoing investment in the rapidly growing Chinese market," said Peter Bilello, President, CIMdata. "The China PLM market repeatedly has outpaced the growth of the global PLM market as Chinese manufacturers focus on product innovation as a means of differentiation. These companies deploy PLM as a means to promote collaboration, automate and manage processes, and capture best practices. PTC has established itself as a strong presence in the market and is well positioned to take advantage of market opportunities."
PLM forms the product information backbone for a company and its extended enterprise. CIMdata defines PLM as a strategic business approach that applies a consistent set of business solutions in support of the collaborative creation, management, dissemination, and use of product definition information across the extended enterprise.
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