Product Information Management Market Reach USD 21 billion at a CAGR of over 25% 2023 | Global Key Players Analysis by Oracle, IBM, Stibo Systems, Pimcore, Riversand, Informatica, and SAP AG.

Market Highlights:

The global product information management market is expected to exhibit a CAGR of close to 25% over the forecast period from 2017 to 2023, according to a new research report from Market Research Future (MRFR). The report provides a close look into the dynamics of the global product information management market by analyzing the market’s key drivers and restraints as well the key segments and leading players operating in the market. The present and historical growth of the global product information management market is used to deliver reliable forecasts about the market’s growth prospects over the forecast period from 2017 to 2023.

Product Information Management Market comprises solutions that can store all information related to a particular product, particularly the information needed to ensure accurate distribution and information about other aspects related to the product’s distribution. The product information management market has grown spectacularly in recent years following the development of PIM software, which allows the provider to tally and isolate the several components of the distribution process of products with ease. A product information management software tool handles all the data regarding all the products in a given distributor’s warehouse/system and keeps track of all the activity in the field concerning product delivery and product movement.

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The growing need for a centralized platform to store all product information and manage multiple distribution channels from a single point of reference is likely to be the key driver for the global product information management market over the forecast period. Due to the development of multiple viable delivery channels and the possibility of a retailer being responsible for products from different sources, the need for a central software system to keep track of all product movement and responsibilities has been keenly felt in the retail sector. This is likely to drive the demand from the product information management market over the forecast period. The growing need to ensure the security of all product data, which may include confidential information about the product’s source and delivery destination, is also likely to be a major driver for the global product information management market over the forecast period.

Competitive Analysis:

Leading players in the global product information management market include Oracle Corporation, IBM Corporation, Stibo Systems, Pimcore, Riversand Technologies Inc., Informatica, and SAP AG.

Segmentation:

The global product information management market is segmented on the basis of component, deployment, organization size, and end user.

By component, the global product information management market is bifurcated into software and services. The software segment consists of single domain and multi-domain software, whereas the services segment includes consulting & system integration, training, and support and maintenance.

By deployment, the global product information management market is segmented into cloud and on-premise.

By organization size, the product information management market is divided into small & medium enterprises and large enterprises.

The key verticals in the product information management market include BFSI, government, retail, healthcare, IT & telecommunications, manufacturing, energy & utilities, healthcare, transportation & logistics, and others.

Regional Analysis:

The global product information management market is segmented into North America, Asia Pacific, Europe, and rest of the world.

North America is likely to be the dominant regional segment of the global product information management market over the forecast period due to the increasing availability of advanced software suites for establishing a central data repository. The presence of leading tech players in the region has helped drive the growth of the product information management market in North America, as product advances have been made progressively and consistently incorporated into the wide-scale functioning of the respective end-use industries.

Asia Pacific is also likely to make a mark on the global product information management market over the forecast period due to the rapid growth of the retail sector and ecommerce in the region.

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Industry Updates:

In January 2019, Unbxd launched a new AI-powered product information management solution. The product provides a faster product-to-market time by automating and centralizing the process behind the generation of product content and experiences.

Intended Audience:

• Technology Investors
• Research/Consultancy Firms
• Software Providers
• System Integrators
• Cloud-based PIM Service Providers
• SMBs and Large Enterprises
• Venture Capitalists

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This release was published on openPR.