The Product Information Management (PIM) Market refers to the market for software tools that help companies manage and distribute product information across multiple channels and platforms. PIM software enables companies to centralize and maintain their product data, while ensuring consistency and accuracy across all marketing and sales channels.
The market for PIM software is driven by the increasing need for companies to manage large volumes of product information, and the growing importance of omnichannel marketing and e-commerce. The use of PIM software is particularly important for companies operating in retail, consumer goods, manufacturing, and distribution industries.
The PIM market is segmented by type, deployment model, application, and geography. The types of PIM software include on-premise and cloud-based software, while the deployment models include public, private, and hybrid clouds. The applications of PIM software include data management, data quality management, digital asset management, and others.
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Manufacturing sector to show extremely high growth potential in product information management market
Manufacturing segment by industry is likely to offer high growth opportunities for the expansion of product information management market in the years to follow. This segment is expected to grow at high CAGR of 22.7% during the period of assessment to reach a valuation of about US$ 2.5 Bn by the end of the year of assessment. In 2017, it was viewed at around US$ 300 Mn. It is the second largest segment in terms of market value and growth rate.
On the other hand, BFSI industry segment is expected to show a y-o-y of 17.4% by 2027 end and is is expected to grow at a 21.6% CAGR throughout the assessment period. This segment is valued at about US$ 280 Mn in 2017.
Regional Outlook on Industry Segments
The global product information management market is soaring across key regions in the globe. In North America, the retail segment is the largest followed by manufacturing segment that is estimated to reach value more than US$ 580 Million by the end of assessment year. In Western Europe region, the healthcare industry segment is projected to grow at the highest pace during the forecast period followed by manufacturing segment.
In Asia Pacific excluding Japan (APEJ) region manufacturing segment is expected to be the largest and the most lucrative in the years to follow. It is projected to grow at a high CAGR of 25.0% throughout the period of forecast to reach an estimate of around US$ 675 Million by end of the assessment year.
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Market Segmentation
The research report on global product information management market covers an in-depth market segmentation that focuses on component, 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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