Efficient and effective Product Lifecycle Management, as an evolution and enhancement of Product Data Management, is of strategic importance for virtually any company. Hence, it is crucial for companies to analyze and evaluate recent trends in information technology (IT) and their implications on Product Lifecycle Management. In this paper, the results of an interdisciplinary study conducted by Siemens AG, a major international technologies firm, and two universities are presented. The study identifies four current trends in IT and then evaluates their potential implications on Product Lifecycle Management. Finally, the IT trends are ranked according to their short and medium term effects on Product Lifecycle Management.