Editing Product lifecycle (section)

==Market size==
After the [[Great Recession]], PLM investments from 2010 onwards showed a higher growth rate than most general IT spending.<ref>{{cite web|date=27 August 2014|title=PLM Spending: A period of "Digestion" after two years of explosive growth |url= https://www.engineering.com/PLMERP/ArticleID/8362/PLM-Spending-A-period-of-Digestion-after-two-years-of-explosive-growth.aspx |access-date=19 December 2017 |website=engineering.com}}</ref>

Total spending on PLM software and services was estimated in 2020 to be $26 billion a year, with an estimated compound annual growth rate of 7.2% from 2021 to 2028.<ref name="grand">{{cite web|title=Product Lifecycle Management Market Size Report 2021-2028|url= https://www.grandviewresearch.com/industry-analysis/product-lifecycle-management-market|access-date=30 November 2021 |website=grandviewresearch.com}}</ref> This was expected to be driven by a demand for software solutions for management functions, such as change, cost, compliance, data, and governance management.<ref name="grand"/>