Overview and Scope
Product information management refers to the process of managing and improving product information and relevant digital content across many teams to provide an engaging consumer experience and sell products successfully across numerous sales and marketing channels. Product information management ensures that the entire business ecosystem has consistent and up-to-date information.
Sizing and Forecast
The product information management market size has grown rapidly in recent years. It will grow from $13.95 billion in 2023 to $16.4 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to rising complexity of product data, regulatory compliance, e-commerce growth, demand for operational efficiency, increasing customer expectations.
The product information management market size is expected to see rapid growth in the next few years. It will grow to $32.88 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to globalization of markets, emphasis on data quality and governance, integration with other business systems, growing importance of omnichannel marketing. Major trends in the forecast period include ai and machine learning integration, cloud-based pim solutions, mobile pim applications, personalization capabilities, blockchain for data integrity, cross-channel data synchronization, collaborative pim, real-time data management.
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Segmentation & Regional Insights
The product information management market covered in this report is segmented –
1) Product Information Management Market By Component: Software, Services
2) Product Information Management Market By Deployment Type: On-premises, Cloud
3) Product Information Management Market By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) Product Information Management Market 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
Top Major Players
International Business Machines Corporation
SAP SE
Informatica LLC
Magnitude Software Inc.
Contentserv Inc. ers Co.
North America was the largest region in the product information management market in 2023. 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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Major Driver Impacting Market Growth
Demand for product information management software from the thriving eCommerce industry across the globe is contributing to the growth of the market. Product information management systems enable businesses to properly evaluate, structure, and validate their brand and product data before sharing it with all supply chain partners in the relevant formats and at the appropriate time. E-commerce enterprises regularly experiment with new digital technologies and integrate them into their business processes to meet 100% of their customers’ demands, along with the e-commerce development pace. For instance, the e-commerce business has experienced rapid expansion as a result of rapid digitalization, and an ever-increasing number of online buyers has fueled the growth of global e-commerce. The revenue of the global e-commerce industry is expected to increase by 12% YoY and reach $2.7 trillion in 2021, according to data presented by TradingPlatforms.com. Thus, the rising demand for product information management software from the thriving eCommerce industry is anticipated to propel market growth shortly.
Key Industry Players
Major companies operating in the product information management market report are 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
The product information management market report table of contents includes:
1. Executive Summary
2. Product Information Management Market Characteristics
3. Product Information Management Market Trends And Strategies
4. Product Information Management Market – Macro Economic Scenario
5. Global Product Information Management Market Size and Growth
…..
32. Global Product Information Management Market Competitive Benchmarking
33. Global Product Information Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Product Information Management Market
35. Product Information Management Market Future Outlook and Potential Analysis
36. Appendix
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