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Global Catalog Management System Market Analysis By Major Manufacturers and Competitive landscape 2023-2032 | IBM, SAP, Oracle, Salsify, Coupa Software
Catalog Management Market Share
The Business Research Company's Catalog Management System Global Market Report 2023 identifies The increase in demand from the e-commerce industry for catalog management solutions as the major driver for the catalog management system market's growth in the forecast period. Catalogs are a list of items, organized into different groups for different purposes. Catalog management refers to the process of keeping the product database structured, organized, and updated across all online sales channels. As people's movement was restricted owing to lockdowns, there was a surge in demand for online products, causing the e-commerce sector's growth to accelerate, resulting in a shift toward catalog management solutions.
The global catalog management system market size will grow from $2.79 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 2.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The catalog management system market size is expected to grow to $3.1 billion in 2027 at a CAGR of 2.1%.
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Major competitors in the catalog management system market are IBM, SAP, Oracle, Salsify, Coupa Software, ServiceNow, Proactis, Broadcom, Fujitsu, Comarch, Zycus, GEP, Ericsson, Amdocs, Episerver, Hansen Technologies, Vinculum, Claritum, eJeeva, SunTec, Plytix, Mirakl, Sellercloud, Vroozi, CatBase, Akeneo, nChannel, Contalog, and Sales Layer.
A key trend in the catalog management system market includes Artificial intelligence and automation. The catalog management system is a process that enables brand suppliers to deliver quality product data across a full catalog. Artificial intelligence and automation are approaches and theories that are used to construct computers that can simulate intelligence. The catalog system's AI and automation improve product tagging, description, visualization, catalog insights, and other features. For instance, according to Vue.ai, a U.S.-based end-to-end retail automation platform, catalog system AI and automation improvements have resulted in a 51% increase in accuracy for better search and discovery, a 75% reduction in traditional photoshoot costs, a 40% increase in conversion rate, and a 30% increase in unique product views in 2021.
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The catalog management system market is segmented -
• By Type: Product Catalogs, Service Catalogs
• By Component: Solutions, Services
• By Deployment Type: On-Premises, Cloud
• By Organization Size: Large Enterprises, Small and Medium Enterprises (SMEs)
• By Vertical: BFSI, Retail and eCommerce, Telecom, IT, Media and Entertainment, Travel and Hospitality, Other Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the catalog management system market.
The Business Research Company's "Global Catalog Management System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Catalog Management System Market Include:
1. Executive Summary
2. Catalog Management System Market Characteristics
3. Catalog Management System Market Trends And Strategies
4. Catalog Management Market - Macro Economic Scenario
5. Catalog Management System Market Size And Growth
……
26. Africa Catalog Management System Market
27. Catalog Management System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Catalog Management System Market
29. Catalog Management System Market Future Outlook and Potential Analysis
30. Appendix
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