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Middleton, Massachusetts, Dec. 03, 2024 (GLOBE NEWSWIRE) -- QKS Group, a leading provider of market research and advisory services, has published research reports, titled “Market Share: Retail Product Lifecycle Management (RPLM), 2023, Worldwide” and “Market Forecast: Retail Product Lifecycle Management (RPLM), 2024-2030, Worldwide”. The reports state that the Retail Product Lifecycle Management (RPLM) Market is projected to reach $1.16 billion by 2030, at a CAGR of 14.5% from 2023 to 2030.

The report analyzes the key players operating in the global RPLM market, including Blue Yonder, Deposco, Ehrhardt Partner Group (EPG), Generix Group, Infor, Körber, Made4net, Manhattan Associates, Mantis, Mecalux, Microlistics, Oracle, Reply, SAP, Softeon, SSI Schaefer, Synergy Logistics, Tecsys, and Vinculum.

The Report Offers Answers to These Key Questions:

What are the historical market sizes for Retail Product Lifecycle Management (RPLM) globally?
What are the market forecasts and estimates for 2024–2030?
What are the high-growth market segments in terms of offering, deployment mode, application, end-use industry, and geography?
What are the major drivers, opportunities, and challenges in the global Retail Product Lifecycle Management (RPLM) market?
Who are the major players in the RPLM market, and what are their market shares?
What strategies are adopted by the major players in the RPLM market?
What are the key geographic trends, and which countries are experiencing high growth?
Who are the emerging local players in the global RPLM market, and how do they compete with established players?

According to Prakhar Bansal, an analyst at QKS Group, “With the growing focus on sustainability, regulatory compliance, and personalized consumer experiences, PLM platforms have become indispensable for retailers seeking to innovate and stay competitive. As cloud deployments, digital twins, and IoT adoption accelerate, investment in agile and scalable PLM systems will be essential for driving efficiency, reducing time-to-market, and meeting the demands of a dynamic retail landscape.

Retail Lifecycle Management (RPLM) Market Segmentation:

By Application:

- SMB
- Large
- Enterprise

By Industry:

- Retail & eCommerce
- Logistics and Transportation
- IT & Telecom Industry
- BFSI
- Manufacturing
- Healthcare and Life Sciences
- Education
- Automotive
- Food & Beverage
- Media & Entertainment

By Geography:

- Asia Ex-Japan China (AxJC)
- China
- USA
- Western Europe
- Canada
- Central & Eastern Europe
- Middle East & Africa
- Japan
- Latin America

By Deployment Type:

- On Premises
- Cloud

Request Sample report:

Market Share: Retail Product Lifecycle Management (RPLM), 2023, Worldwide @ https://qksgroup.com/download-sample-form/market-share-retail-product-lifecycle-management-rplm-2023-worldwide-2823

Market Forecast: Retail Product Lifecycle Management (RPLM), 2024-2030, Worldwide @ https://qksgroup.com/download-sample-form/market-forecast-retail-product-lifecycle-management-rplm-2024-2030-worldwide-2751

Market Drivers of Retail Product Lifecycle Management (RPLM)

The increasing demand for quicker time-to-market and the need for efficient product development cycles are driving the adoption of Retail PLM solutions. In an era of rapidly shifting consumer preferences, retailers must ensure agility in product design, sourcing, and launch to stay competitive. Retail PLM systems help streamline these processes, enabling brands to innovate faster while maintaining quality and compliance.

The push toward sustainability is another key factor, as companies prioritize eco-friendly practices and transparency in sourcing and production. PLM solutions facilitate this by providing tools for sustainable material tracking, lifecycle assessments, and compliance with environmental regulations. These capabilities are especially crucial as consumers increasingly demand ethical and sustainable products.

Advancements in technology, including artificial intelligence (AI) and machine learning (ML), are transforming Retail PLM systems by enabling predictive analytics for trend forecasting and demand planning. These technologies help businesses anticipate market trends, optimize inventory, and minimize waste. Integration with augmented reality (AR) and virtual reality (VR) tools further enhances product design and visualization, reducing the need for physical prototypes.

The adoption of cloud-based PLM solutions is also accelerating, offering scalability and ease of access. Cloud-based PLM systems enable seamless collaboration among geographically dispersed teams and suppliers, making it easier for businesses to operate in globalized markets. Furthermore, the growing complexity of supply chains and the need for end-to-end visibility have made cloud-based solutions an attractive choice for companies seeking enhanced operational efficiency and decision-making capabilities.

In summary, the Retail PLM market is being propelled by the twin imperatives of agility and sustainability, coupled with advancements in digital technologies that enhance collaboration, transparency, and efficiency throughout the product lifecycle.

Retail Product Lifecycle Management (PLM) technology solutions were initially designed to streamline product development processes, enabling retailers to manage the complete lifecycle of a product—from concept and design to production, marketing, and disposal. As consumer demand for innovation, faster product cycles, and sustainability grew in the early 2000s, PLM systems became vital in reducing time-to-market, improving collaboration, and enhancing decision-making processes.

Initially adopted by large enterprises, PLM solutions helped retailers handle diverse product lines and complex supply chains. With globalization and the rise of fast fashion, managing large volumes of product data and multiple supplier relationships became crucial. PLM systems evolved to integrate functionalities such as real-time collaboration, digital asset management, and compliance tracking to meet these needs.

Today, modern retail PLM systems have expanded their capabilities to include advanced analytics, automation, and visualization tools, enabling retailers to manage end-to-end product lifecycles efficiently. These solutions support collaboration across design, merchandising, sourcing, and production teams, ensuring that products align with market trends, cost targets, and compliance requirements.

Macroeconomic trends like the rise of sustainability initiatives, shifting consumer expectations, increasing regulatory demands, and economic uncertainties have further underscored the importance of agile and data-driven PLM systems. As eCommerce, omnichannel retail, and D2C models flourish, PLM solutions are now essential for ensuring rapid product development cycles and meeting diverse market demands.

Current Trends and Innovations

Sustainability and Circular Economy: Retailers are leveraging PLM solutions to design eco-friendly products, track carbon footprints, and support circular business models.
AI and Machine Learning: AI-powered PLM tools are used for predictive analytics, trend forecasting, and identifying potential risks in the supply chain.
Digital Twins: Virtual representations of products help optimize designs, predict performance, and reduce physical prototyping costs.
Cloud Deployments: Cloud-based PLM systems offer scalability, flexibility, and real-time collaboration across geographies.
Mobility and IoT: Mobile-enabled PLM solutions and IoT integration provide real-time data collection and insights from production lines, suppliers, and retail floors.

The Retail PLM market is poised for significant growth as vendors continue to invest in advanced technologies to meet the evolving needs of the retail sector. The integration of AI, ML, IoT, blockchain, and edge computing is expected to redefine the capabilities of PLM systems, enabling faster, more efficient product lifecycles. Additionally, as sustainability and transparency become central to business strategies, PLM solutions will play a key role in driving innovation and compliance.

Retail PLM technology is rapidly becoming indispensable for retailers aiming to remain competitive in a dynamic marketplace. By optimizing product lifecycles, improving collaboration, and leveraging data-driven insights, these systems empower retailers to bring products to market efficiently, respond quickly to consumer trends, and enhance overall business performance.

The accelerating drive toward digitalization across industries has transformed the retail sector, encouraging businesses to adopt advanced technologies to enhance product development and lifecycle management processes. As consumer expectations evolve and trends like fast fashion, sustainability, and personalized products take center stage, the need for agile, data-driven approaches to managing the product lifecycle has become paramount. The ability to streamline collaboration across design, sourcing, and production teams, while ensuring regulatory compliance and sustainability, is crucial for maintaining competitiveness in a fast-changing retail landscape. These factors are driving the widespread adoption of Product Lifecycle Management (PLM) solutions in the retail market.

Technological advancements have equipped modern PLM solutions with tools powered by Artificial Intelligence (AI), Machine Learning (ML), and predictive analytics, enabling retailers to forecast trends, optimize designs, and manage costs more effectively. Integration with digital twins, IoT, and cloud-based platforms has further enhanced collaboration, offering real-time visibility across the product lifecycle and improving supply chain alignment. These systems empower businesses to track material sourcing, reduce time-to-market, and ensure product compliance, all while fostering innovation.

Cloud-based PLM platforms, in particular, provide scalability, centralized data management, and seamless global collaboration, making them an essential tool for retailers navigating diverse markets and customer demands. Advanced analytics and visualization tools embedded in PLM systems help businesses analyze performance metrics, identify market opportunities, and make proactive decisions. As sustainability and circular economy models gain importance, PLM solutions are increasingly being leveraged to design eco-friendly products and monitor their environmental impact throughout their lifecycle.

As retail markets become more dynamic and competitive, PLM technology will play a pivotal role in driving efficiency, fostering innovation, and supporting businesses in adapting to changing consumer expectations and regulatory landscapes. This digital transformation in product lifecycle management is set to redefine how retailers innovate and deliver value across the supply chain.

Related Reports:

Market Share: Retail Product Lifecycle Management (RPLM), 2023, Worldwide- https://qksgroup.com/market-research/market-share-retail-product-lifecycle-management-rplm-2023-worldwide-2823
Market Forecast: Retail Product Lifecycle Management (RPLM), 2024-2030, Worldwide- https://qksgroup.com/market-research/market-forecast-retail-product-lifecycle-management-rplm-2024-2030-worldwide-2751
SPARK Matrix™: Retail Product Lifecycle Management (RPLM), Q2, 2024- https://qksgroup.com/market-research/spark-matrix-retail-product-lifecycle-management-rplm-q2-2024-3144

Browse Regional reports:

Market Share: Retail Product Lifecycle Management (RPLM), 2023,

Market Forecast: Retail Product Lifecycle Management (RPLM), 2024-2030,

About QKS Group

QKS Group, formerly Quadrant Knowledge Solutions, is a leading global advisory and research firm, dedicated to empowering technology innovators to accelerate their growth journeys and enable technology adopters to achieve their digital transformation objectives.

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Retail Product Lifecycle Management (RPLM) Market Size Expected to Reach $1.16 Billion by 2030 at a CAGR of 14.5% as per the Exclusive Report from QKS Group