Key Factor Supporting Product Information Management Market Development in 2025: E-Commerce Boom Drives Market Growth For Product Information Management Software

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How Large Will the Product Information Management Market Size By 2025?
In the last few years, there has been a rapid expansion of the product information management market size. From being worth $16.06 billion in 2024, it is projected to increase to $18.69 billion by 2025, showing a compound annual growth rate (CAGR) of 16.4%. Factors leading to this growth during the historic period are the escalating complexity of product data, regulatory compliance needs, the rise of e-commerce, the need for operational efficiency, and heightened customer expectations.

How Big Is the Product Information Management Market Size Expected to Grow by 2029?
Expectations indicate a pronounced surge in the size of the product information management market in the coming years. The market is projected to swell to a substantial $40.3 billion in 2029, exhibiting an impressive compound annual growth rate (CAGR) of 21.2%. Factors such as market globalization, a strong focus on data quality and governance, amalgamation with other business systems and the rising significance of omnichannel marketing are set to fuel growth during the forecast period. Future trends within the forecast period include incorporation of AI and machine learning, utilization of cloud-based PIM solutions and mobile PIM applications, enhanced personalization capabilities, the use of blockchain for data integrity, synchronization of data across channels, collaborative PIM, and real-time data management.

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Which Key Market Drivers Powering Product Information Management Market Expansion and Growth?
The flourishing eCommerce sector worldwide is driving the demand for product information management software, thereby catalyzing market expansion. These management systems empower businesses to adequately assess, organize, and authenticate their brand and product information before disseminating it to all supply chain partners, in relevant formats and at the right time. E-commerce businesses routinely explore new digital technologies, integrating them into their operations to fulfill their customers' requirements fully, keeping stride with the e-commerce growth rate. For example, data from August 2023 released by the US Census Bureau, an American governmental organization, revealed that e-commerce in the second quarter of 2023 grew by 7.5% (or 1.4%) compared to the same period in 2022. In comparison, overall retail sales grew by 0.6% (or 0.4%). Online sales accounted for 15.4% of total sales in the second quarter of 2023. Thus, the escalating demand for product information management software from the burgeoning eCommerce industry is expected to fuel market growth in the near future.

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Which Fast-Growing Trends Are Poised to Disrupt the Product Information Management Market?
Leading players in the product information management sector are pioneering advanced technologies like generative artificial intelligence (AI) algorithms. This technology makes data management more efficient, streamlines the creation of product content, and enhances customer engagement through personalized experiences. Generative AI algorithms represent a category of AI methodologies that generate new content or data that imitates existing one. For example, in August 2024, GroupBy Inc., a Canadian AI search and product discovery solutions company, introduced Enrich AI. This product data enrichment platform is set to transform product information management. It mechanizes the extraction, standardization, and enhancement of product data. By utilizing generative AI algorithms, Enrich AI can spot and correct errors and inconsistencies in product data, demonstrating the significant impact AI can have on product data management.

What Are the Emerging Segments in the Product Information Management Market?
The product information management market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment Type: On-premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By End User: Consumer Goods And Retail, Banking, Financial Services And Insurance (BFSI), Telecom And IT, Manufacturing, Transportation And Logistics, Media And Entertainment, Other End Users

Subsegments:
1) By Software: On-Premises, Cloud-Based
2) By Services: Consulting, Implementation, Maintenance And Support

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Who Are the Global Leaders in the Product Information Management Market?
Major companies operating in the product information management market include International Business Machines Corporation, SAP SE, Informatica LLC, Magnitude Software Inc., Contentserv Inc., Plytix Limited, Salsify Inc., Riversand Technologies Inc., Pimcore, Akeneo SAS, Stibo Systems A/S, EnterWorks Acquisition Inc., Agility Multichannel Limited, Mobius Knowledge Services Inc., Profisee Group Inc., Censhare AG, Vinculum Solutions Inc., TrueCommerce Inc., Vimedici AG, Imagine Communications Corp., inRiver AB, StoreGekko Limited, Idiosity Inc., Icecat NV, Skypim Limited, Merchantry Global Inc., ADAM Software NV, Oracle Corporation, ASIM Products

Which are the Top Profitable Regional Markets for the Product Information Management Industry?
North America was the largest region in the product information management market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the product information management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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