Product Lifecycle to Reach $12.38B by 2032

Hey innovators!

Can you tell me what else can make you the best product manager other than reading case studies of successful and budding brands? Exactly! Knowing what's happening in the industry can improve your thinking ability and boost creativity, letting you become the best version.

So, what do you think might have happened this week in the product management industry? Well, I think I can cover for you.

In today’s edition:

• IoT in Product Lifecycle to Reach $12.38 Billion by 2032

• Apparel Product Lifecycle Market to Witness Strong Growth

• New Product-Market Strategy Aims to Boost India's Exports

• Automated Product Photography Market Poised for Growth

• Disney and ESPN Appoint Adam Smith as CPTO

Read Time: 8 Minutes

WEEKEND SNIPPETS

IoT in Product Lifecycle to Reach $12.38 Billion by 2032

Details:

• The global IoT in Product Lifecycle and Asset Management market is on track to experience growth, projected to reach $12.38 billion by 2032. The market is driven by rising demand for data-driven decision-making in product lifecycle management (PLM) and boosted asset utilization across various industries.

• Key players like IBM, PTC, and Siemens are at the forefront of integrating IoT solutions, enabling real-time monitoring, predictive maintenance, and streamlined operations. This growth is fueled by increasing adoption in the manufacturing, automotive, and energy sectors, as businesses aim to optimize efficiency and reduce downtime.

Apparel Product Lifecycle Market to Witness Strong Growth

Details: 

• The Product Lifecycle Management (PLM) market in the apparel sector is set for robust growth, driven by rising demand for faster product innovation and simplified operations in fashion. As brands increasingly adopt PLM solutions, the focus remains on improving collaboration, reducing time-to-market, and adapting to fast-changing consumer preferences.

• Major industry players like Dassault Systèmes, Gerber Technology, and Lectra are investing in AI and digital solutions to optimize design, production, and supply chain management. The market is expected to see expansion due to increased digital transformation in the fashion industry and evolving retail dynamics.

New Product-Market Strategy Aims to Boost India's Exports

Details:

• India's export strategy is set for a shift to new product-market combinations, aiming to counter the impact of global economic challenges. The government is exploring opportunities in under-penetrated regions and promoting high-value products, while also leveraging free trade agreements.

• Despite external headwinds, sectors like electronics, pharma, and chemicals are being prioritized for growth. The strategic pivot comes as traditional export markets like the U.S. and Europe face sluggish demand. By targeting newer markets and innovative products, India plans to sustain its export momentum in the coming years.

Automated Product Photography Market Poised for Growth

Details:

• The automated product photography solutions market is seeing rapid growth, driven by the increasing demand for high-quality visual content in e-commerce and retail. Leading players like Orbitvu, PackshotCreator, and Iconasys are focusing on AI-driven automation.

• As online shopping booms, businesses are investing in automated solutions to simplify product photography, reduce costs, and improve image quality. This trend is expected to continue as more companies adopt these technologies to stay competitive, particularly in sectors like fashion, consumer electronics, and FMCG.

Disney and ESPN Appoint Adam Smith as CPTO

Details:

• Disney Entertainment and ESPN have named Adam Smith as their new Chief Product & Technology Officer. Smith, a seasoned tech executive with a background in leading digital transformations, will oversee product development, technology strategy, and user experience for both entities.

• His appointment comes as Disney and ESPN aim to strengthen their digital platforms and compete more aggressively in the streaming market. Smith's expertise will be crucial in enhancing content delivery and driving innovation across Disney’s and ESPN’s digital offerings, aligning with the companies' growth strategies in an increasingly competitive media landscape.

Wrapping Up

This week saw India’s exports pivot towards new product-market strategies to offset global economic headwinds.

The apparel sector's PLM adoption is driving innovation, while automated product photography solutions gain traction with the e-commerce boom.

Disney and ESPN’s appointment of Adam Smith as Chief Product & Technology Officer marks a digital push.

Meanwhile, IoT’s role in product lifecycle management and asset management continues expanding, with market growth projected at $12.38 billion by 2032.