PDM (Product Data Management) is the process of managing the evolution of a product and providing associated tools and applications with the accurate product information at the right time in the right format during the entire PLC (Product Life Cycle). A PDM system is like an information infrastructure. It supports users in performing their tasks by means of different functional models that it incorporates with other integrated software systems (like CAD, ERP). The functional models of a PDM software include object repository management, object structure management, and object life-cycle management. The main objective of a PDM software is to create a single repository for all the information, regarding a company's products and services, and ensure timely compilation of information and engineering data as it develops.
The growth of computer-based applications for design, engineering and manufacturing has led to an explosion in the volume of product definition data. However, the 3D design and analysis tools (such as CAD) create unique data management challenges. For example, 3D files contain many references, associations, and interrelationships that link them to other files. The maintenance of this huge and complex data is a difficult task. Since PDM software supports the creation and control of increasing amounts of diverse types of 3D product design data, it is able to manage the huge and complex data associated with 3D designs. Moreover, the PDM software boosts productivity, fosters collaboration by enabling the users to share data, and utilizes valuable 3D design data to its fullest extent. These benefits are encouraging the manufacturers to adopt the PDM software; thus, driving the sales of the PDM software in Australia.
Australia, with substantial mineral resources, is ranked as one of the world’s leading mining nations. Owing to this, the Australian Mining Industry is considered as the nations strongest industry, registering a continuous increase in growth rate. However, due to increased demands for environmental control, and complicated decisions regarding product distribution and quality, this industry is adopting the PDM software. This software enables to comply with the various industry standards and regulation. Further, it helps this industry by allowing them integrate the design and production data into the existing system within the organization.
This report by TechNavio Insights highlights scope of the Australian PDM Software market. Further it discusses trends, drivers, growth inhibitors and a few major vendors in the market.