PTC has plans to establish a Research and Development Center of Excellence in Korea. The research at the center will focus on the specific product life management (PLM) requirements of the automotive industry, including the requirement for globalization, the desire for an open PLM platform, the opportunity to optimize service operations, and the need for tighter integration between CAD, BOM, and Digital Mock-Up for rapidly changing vehicle configurations. “Automotive OEMs and supply chain participants are facing an expanding set of business and technical complexities that include evolving supply chain relationships, increasingly complex vehicles with more electronics and software, rapidly developing regulatory compliance-related requirements, and increasing consumer quality, functional, and time-to-market demands,” observed Peter Bilello, President of CIMdata, a global PLM management consulting and research firm. “The good news is that PLM-enabling solutions are seen by many in the global automotive industry as critical to addressing these issues.” The company’s PLM software, Windchill, is one of the fastest growing products in the market with a 70% revenue growth in the last year. PTC’s enterprise 3D design, product data management, and collaboration solutions customers in the automotive industry include eight of the top 10 powertrain suppliers and three of the top five automotive OEMs.