The product lifecycle management (PLM) software market has seen a resurgence as current customers and greenfield markets use PLM software toolkits to meet new demands brought about by digital transformation. PLM will continue provide crucial value as a data management tool for the product organization, but will grow its influence in the market through new deployment options, product innovation capabilities, analytics and data visualization, usage-data-led product design, and business-stakeholder-oriented functionality. VPs of product development, product CTOs, and CIOs should consider the shifting dynamics of PLM functionality before selecting a vendor partner.