The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Product Information Management market. The rising demand for the Product Information Management market is expected to drive the demand for Product Information Management market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global product information management market size is expected to reach USD 24.39 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for providing enhanced consumer experience. In addition, increasing pressure on distributors to provide more informative and functional B2B online customer experience that includes high-quality product information is expected to continue to drive adoption of product information management systems going ahead.
Product information management in business applications help to address challenges posed by proliferation of product information, increasing buyer demand, necessity of managing inventory levels, sales orders, and customer returns. With the help of product information management, distributors can ensure better accuracy of the information provided by their manufacturers and internal Enterprise Resource Planning (ERP) and inventory management systems. Rising need to manage increasing volumes of product data owing to steady growth in e-Commerce and retail businesses has resulted in rising adoption of product information management systems.
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Key Points of Product Information Management Market:
- Services segment accounted for largest revenue share in 2020. Companies offering product information management systems are providing support, training, and maintenance services to assist in-house staff in understanding product information management systems, which is driving growth of the services segment.
- Cloud segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing demand for a cloud-based solutions in information storage is expected to drive growth of the product information management market during the forecast period.
- Retail segment accounted for a significantly large revenue share in the product information management market in 2020. Increasing application of product information management systems in e-Commerce and retail sectors is boosting growth of the product information management market.
Market Dynamics:
The report offers insightful information about the market dynamics of the Product Information Management market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Product Information Management market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Product Information Management market.
Major players in the market include Oracle, SAP, IBM, Informatica, Winshuttle, Pimcore, Akeneo, Riversand Technologies, Inc., Salsify Inc., and Aprimo.
Emergen Research has segmented the global product information management market on the basis of offering, deployment, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
- Services
- Solution
Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-premise
- Cloud
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Media Entertainment
- BFSI
- Healthcare
- Retail
- IT and Telecommunication
- Energy Utilities
- Transportation and Logistics
- Others
The report addresses the following key points:
- The report provides a forecast of Product Information Management market drivers, restraints, and future opportunities for the Product Information Management market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the Product Information Management market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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