Dublin, Oct. 21, 2021 (GLOBE NEWSWIRE) -- The "Global Product Information Management Market (2021-2026) by Component, Deployment, Organization Size, Industry Vertical, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Product Information Management Market is estimated to be USD 9.9 Bn in 2021 and is expected to reach USD 16.5 Bn by 2026, growing at a CAGR of 10.7%.
Key factors such as growing digitalization have led to an increase in an e-commerce transaction, thereby surging demand for a centralized repository of information. Also, such centralized data can help remove the inconsistencies in data across numerous data storage systems. These factors are prominently driving the growth of the Product Information Management (PIM) market. Moreover, to fulfill the customer's ever-changing demands, businesses implement these PIM systems to provide enhanced services to the customer to retain them. This has been positively impacting market growth further.
However, amidst a higher dependence on data application tools, there is an increased threat to security with data breaches and lower security systems in place. Also, the cost of deployment is high, with recurring upgrades and maintenance fees. These factors are likely to restrain market growth.
Growing Demand for Centralized Data Management Tools
Growing Demand for Enhanced Customer Service
Growth in The E-Commerce Sector Leading to an Indispensable Requirement for Centrally Managed Data
High Data Breaches
High Costs of Deployment
Integration of Artificial Intelligence (AI) And Machine Learning (Ml) With PIM
Shifting Preferences towards Cloud-Based Applications
Diversified Data Legislations and Regulations
Lack of Awareness About PIM
By Component, the market is classified as solution and services. Amongst the two, the Solutions are estimated to hold the highest market share. It is majorly attributed to the growing need for harmonization and centralization of marketing and related technical information to achieve a uniform customer experience across all channels. Further, adopting these solutions can reduce the manual errors involved in customer orders due to process automation. Further, to enhance the business operations, the enterprises are adopting these solutions, which have favoured the growth of the solution segment.
By Deployment, the market can be classified as cloud-based and on-premise. Amongst the two, the Cloud-based deployment holds a high market share. The cloud-based applications are being adopted in several industry sectors such as healthcare, BFSI, etc., due to their increased demand and benefits in terms of their scalability and cost-effectiveness. Since PIM solutions are centralized by nature, they can be used for enhancing promotional activities. The rising integration of big data applications with cloud storage can help create growth opportunities for business enterprises.
By Organization Size, the market is classified as large enterprises and small and medium-sized enterprises. Amongst the two, the Large Enterprises are estimated to hold the highest market share. This is majorly attributed to these enterprises' heavy investments in technological solution adoption for achieving process efficiencies. The product information management (PIM) solutions offer a single centralized system to manage product information such as the company's extensive product portfolios to facilitate better management it helps in providing unified customer view to achieve client.
By Industry Vertical, the Retail segment is estimated to hold the highest market share. PIM solutions in the retail sector have been rising as the retailers find such a solution a necessity for managing information about different suppliers and information related to different products and distribution centres. Since PIM solutions can increase product reach, retailers have been adopting this software to speed up the product launch time by accurately reducing the channel involvement. This has helped in boosting the demand for PIM solutions by the retailers, thereby enabling market segment growth.
By Geography, North America is projected to lead the market. The factors attributing to the market's growth are rapid advancements in technologies and the strong technological infrastructure of the region. This has created a high demand in streamlining workflows through the application of centralized master data, deriving meaningful insights for automating the various process. Moreover, the presence of PIM vendors such as Salesify, SAP SE, and Oracle have been effectively contributing to the growth of the region.
Some of the companies covered in this report are Stibo Systems, Contentserv Group AG, Winshuttle, LLC., Plytix, Riversand, Aprimo US LLC, Mobius Knowledge Services., Perfion A/S, Profisee Group, Inc., Censhare AG, and Vinculum Solutions Pvt Ltd, etc.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Product Information Management Market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.
A complete analysis of the market including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview
4.2 Market Dynamics
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Product Information Management Market, By Component
6.2.2 Single Domain
6.3.1 Consulting and Implementation
6.3.2 Training, Support and Maintenance
7 Global Product Information Management Market, By Deployment
8 Global Product Information Management Market, By Organization Size
8.2 Large Enterprises
8.3 Small and Medium-sized Enterprises
9 Global Product Information Management Market, By Industry Verticals
9.6 IT and telecom
9.7 Transportation and logistics
9.8 Media and entertainment
9.9 Other verticals
10 Global Product Information Management Market, By Geography
10.2 North America
10.3 South America
10.4.6 Rest of Europe
10.5.6 South Korea
10.5.9 Rest of APAC
10.6 Rest of the World
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 United Arab Emirates
10.6.5 Latin America
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Mergers & Acquisitions
11.3.2 Agreements, Collaborations, & Partnerships
11.3.3 New Product Launches & Enhancements
11.3.4 Investments & Fundings
12 Company Profiles
12.1 SAP SE
12.2 Salsify Inc.
12.3 Syndigo LLC
12.4 Informatica LLC
12.5 inRiver AB
12.6 Stibo Systems Inc.
12.7 Agility Multichannel Ltd. (Magnitude Software Inc.)
12.8 IBM Corporation
12.9 Pimcore GmbH
12.10 Akeneo SAS
12.11 Plytix Limited
12.12 Riversand Technologies Inc.
12.15 ADAM Software NV (Aprimo)
12.16 Oracle Corporation
12.17 Winshuttle, LLC.
12.18 Mobius Knowledge Services.
12.19 Perfion A/S
12.20 Profisee Group Inc.
12.21 Vinculum Solutions Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4shs6v
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