Press release
Catalog Management Systems Market touched USD 1.5 billion in 2021 and will grow at 9.1% CAGR during 2022-2029, reaching USD 3.0 billion in 2029 | Size, Share & Forecast
Catalog Management Systems Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/catalog-management-systems-market-analysis-industry-research/
The factors driving growth of the Catalog Management Systems Market includes rising penetration of smartphones around the world, increasing application of catalog management systems across end-use industries such as retail and e-commerce, media, and entertainment and BSFI, growing demand for fashion and apparel and electronic devices, and improvements in the living standards. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) with catalog management systems, increased IT budgets of companies and rapid urbanization, are some of the additional factors supplementing the market growth. As per the Catalog Management Systems Market Report, the increasing investments by major corporations on research and development, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth.
However, growth of the Catalog Management Systems Market is hindered due to rising concerns related to data security.
The leading players operating in the Catalog Management Systems Market includes ServiceNow, Proactis Holdings Plc., Broadcom, IBM Corporation, SAP SE, Oracle, FUJITSU, Comarch SA, Salsify and Coupa Software Inc., among others.
Based on Organization Size, the Small & Medium Enterprises segment is predicted to grow at a significant CAGR during the forecast period
Catalog management system helps small enterprises to enhance cost optimization of business processes and cloud-based software are easy to integrate and improves efficiency, are some of the factors pushing growth of the segment.
Based on Vertical, the Retail and eCommerce segment is projected to expand at a remarkable CAGR over the forecast period
Growing demand for rich and consistent product information and rising adoption of advanced technologies, are propelling Catalog Management Systems Market size.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Increasing demand for catalog management systems across India, Singapore and Malaysia, rising adoption of advanced technologies by major companies, rapid urbanization, growing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In 2020, Salsify partnered with e-Comas, an Amazon consulting, account management, and content optimization firm. The partnership focuses on providing Amazon digital shelf excellence to brand manufacturers in Europe, Middle East, and Africa (EMEA) by using Salsify's solutions.
In 2020, Oracle launched guide for Oracle Product Information Management version 12.1. This new version provides users to efficiently define responsibilities, users, suppliers, customers, setting up item catalogs and categories, item templates, and manage item statuses, among others.
Market Segmentation
Segmentation by Type
Product Catalogs
Service Catalogs
Segmentation by Component
Solutions
Services
Managed Services
Professional Services
Segmentation by Deployment Type
On-premises
Cloud
Segmentation by Organization Size
Large Enterprises
Small & Medium Enterprises
Segmentation by Vertical
BFSI
Retail and eCommerce
Telecom
IT
Media and Entertainment
Travel and Hospitality
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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