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. It helps store and manage the product design and manufacturing information.
The main objective of PDM is to create a single repository for all the information about a company's products and services, and ensure timely compilation of information and engineering data as it develops. A PDM system is like an information infrastructure. It provides users with support in performing their tasks by means of different functional models that it incorporates with other integrated software systems. PDM is therefore both a base for different systems, into which other applications can be integrated.
When working on the same project, designers and engineers access different versions of the latest data. This not only creates confusion but also causes problems with the overall management. All files and changes are stored into a database and networked using a PDM solution. Moreover, managers and executives can clearly see the project progress, work done by different individuals, and also determine if any change of objective (from that of the management) has occurred.
The report by TechNavio Insights forecasts the size of the Global Product Data Management (PDM) software market over the period 2008-2012. It segments the Global PDM software market into various geographic regions (representing the market size for each of these regions). Further, it discusses the key market trends, drivers and challenges of the Global Product Data Management (PDM) software market 2008-2012, and profiles some of the key vendors of this market.