The product information management market is poised for substantial growth, with a projected value surpassing US$ 45,034.70 million by the year 2034. This impressive expansion is anticipated to unfold at a commendable (CAGR) of 21.20% over the forecast period spanning from 2024 to 2034. The escalating demand for efficient management and dissemination of product information across diverse channels is identified as a key driver propelling the PIM market’s ascent.
As businesses increasingly recognize the importance of maintaining accurate and consistent product data for enhanced customer experience and streamlined operations, the PIM market is positioned as a critical solution. This forecasted growth underscores the market’s pivotal role in helping enterprises navigate the complexities of product information across their ecosystems, making it an integral component of modern business strategies.
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Global Product Information Management Market: Growth Influencing Factors
Several aspects influencing the growth of the global product information management market are studied and included in this research report. Various aspects such as the rising number of products coupled with the growing importance of reducing errors associated with product information, increasing focus on reducing time to market and improving sales efficiency, increasing demand for centralized data, rising adoption of product information management solutions in the retail sector, the emergence of digital asset management, rising requirements for data verification and authenticity, increasing consumer demand for advanced technology and increasing traction of digital transformation in the manufacturing, wholesale and retail sectors are pushing the growth of the global market. Moreover, benefits such as support in keeping track of customers and managing complex product data are also contributing to the growth of the global product information management market. However, certain aspects like lack of awareness, interoperability issues, high operating costs associated with deployment, long implementation time, and challenges associated with data integration are posing restraints to global market revenue growth.
Global Product Information Management Market: Competitive Scenario:
The report covers a competition analysis and has profiled companies such as SAP AG, IBM Corporation, Informatica, Riversand Technologies, Inc., Stibo Systems, ADAM Software, Agility Multichannel, Inriver, Inc., Pimcore, Salsify, Edgenet, CATSY, Censhare AG, Shotfarm, Akeneo and NetCracker.
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Product Information Management Market Segmentation:
The research report on the global product information management market covers an in-depth market segmentation that focuses on components, deployment, industry, enterprise type, and region.
By Component:
- Software
- Multi-Domain Product Information
- Single-Domain Product Information
- Services
By Deployment:
- On-Premise
- Software-as-a-Service (SaaS)
By Industry:
- BFSI
- Healthcare
- Telecommunication and IT
- Government
- Retail
- Transportation and Logistics
- Manufacturing
- Energy and Utility
- Media and Entertainment
- Others
By Enterprise Type:
- Large Enterprise
- Small and Medium Enterprise
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
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