Product Information Management Market is to grow at 21% During the Forecast Period 2017 to 2027

Future Market Insights recently released a new research report titled "Product Information Management Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)" that includes a number of market statistics as well as an analysis of the current situation, historical data, and prospective market insights. Every aspect of the product information management market is examined through a thorough market segmentation, providing a comprehensive view of the market.

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Global Product Information Management Market: Segmental Snapshot

The global product information management market is segmented by component, by deployment, by industry, by enterprise type and by region.

By component, the software segment is expected to dominate the global market in terms of market share and is estimated to reach a value of more than US$ 1 Bn by the end of the assessment year
By deployment type, the on-premise segment is likely to lead the market with a higher market valuation. However, the software-as-a-service (SaaS) segment is projected to grow at the highest pace to register an exponential CAGR of 24.2% throughout the period of forecast
By industry, the retail segment is poised to reach a value of about US$ 2,812.5 Mn by the end of 2027. This is the largest segment reflecting higher revenue generation during the assessment period. On the other hand, the transportation and logistics segment is expected to grow at a comparatively faster rate in the years to follow
By enterprise type, the large enterprises segment is poised to reach a valuation higher than the small and medium enterprises segment thus dominating the market. The small and medium enterprises segment is anticipated to grow at a much faster rate to reflect a CAGR of 22.7% during the period of assessment, 2017-2027
By region, North America is the largest regional market for product information management, presenting a high market attractiveness. The product information management market in North America is expected to reach US$ 3120.1 Mn by 2027 end

Regional Outlook on Industry Segments 

Key global regions are witnessing explosive growth in the product information management industry. The largest industry in North America is retail, which is followed by manufacturing, which is expected to surpass US$ 580 million by the conclusion of the evaluation year. The healthcare industry segment is anticipated to increase at the fastest rate in the Western Europe area during the projection period, followed by the manufacturing industry section.

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In the years to come, the manufacturing sector is anticipated to be the biggest and most profitable in the Asia Pacific excluding Japan (APEJ) area. It is anticipated to increase at a rapid CAGR of 25.0% throughout the forecast period, reaching an estimated value of over US$ 675 Mn by the end of the assessment year.

Global Product Information Management Market: Future Projections

The global product information management market, which was estimated to be worth around US$ 1.8 Bn in 2017, is predicted to develop at a very high CAGR of 21.0% over the course of the forecast year, reaching a value above US$ 12 Bn by the conclusion of the assessment period.

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 rising number of products coupled with growing importance on reducing errors associated with product information, increasing focus on reducing time to market and improving sales efficiency, increasing demand for centralised data, rising adoption of product information management solutions in the retail sector, 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 on 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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.