Product Information Management Market extrapolated to reach $16.0 billion by 2025

According to a new market research report "Product Information Management (PIM) Market by Component (Solutions and Services), Solution (Multi-mode, and Single-mode), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025"published by MarketsandMarkets™, the market size expected to grow from USD 9.0 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 12.2% during the forecast period. The major factors driving the growth of the PIM industry include rising demand for PIM solutions from the flourishing eCommerce industry and an increasing need to offering enhanced customer services.

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The large enterprise segment to hold the largest market size during the forecast period

The adoption of PIM solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period. PIM systems offer a single centralized system, to manage products information across the sectors. Hence, large enterprises heavily invest in advanced technologies to increase their overall productivity and efficiency. The demand for flexible, scalable, and convenient services by large enterprises is expected to encourage the market players to come up with newer technologies and innovative solutions.

Media and Entertainment to record the fastest growth rate during the forecast period

As most of the population are staying at home, the usage of media and entertainment has increased with double digit growth. Additionally, PIM offers high visibility, scalability and service optimization that can tackle challenges occurred due to sudden increased demand in media and entertainment industry vertical.

APAC is projected to be the fastest-growing region during the forecast period

The PIM market in APAC is expected to grow at the highest growth rate during the forecast period. Intrinsic strength, progressive trade agreements among countries, and recovering global demand are driving the PIM market in this region. This growth is evident with the acceptance of new cloud-based PIM solutions, services, and platforms by developing countries of this region. APAC is witnessing high growth due to the increasing global competition and an exponential increase in eCommerce penetration. High economic growth in developing countries, such as India, China, and Vietnam, has resulted in an increase in the usage of online retail and media content.

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Market Players

Some prominent players across all service types profiled in the PIM market study include Oracle (US), SAP (US), IBM (US), Informatica (US), Pimcore (Austria), Akeneo (France), Inriver (Sweden), Winshuttle (US), Riversand (US), Salsify (US), Aprimo (US), Stibo Systems (Denmark), Contentserv (Switzerland), Mobius (India), Perfion (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), Pimworks (US), Truecommerce (US), Vimedici (Germany), Magnitude Software (US), Plytix (Denmark) and Syndigo (US).

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This release was published on openPR.