Product Information Management Market

Product Information Management Market

Growth Factors of Product Information Management Market

The product information management market size was valued at USD 3.67 billion in 2023, and the market is now projected to grow from USD 4.47 billion in 2024 to USD 20.66 billion by 2032, exhibiting a CAGR of 21.1% during the forecast period of 2024-2032.

COVID-19 had a strong impact and imposed high digitization, as many small businesses moved into the digital environment. A recent survey conducted by Flexera in its 2020 State of the Cloud Report revealed that 93% of the firms had adopted the multi-cloud strategy and 87% had adopted the hybrid cloud strategy. Also, 20% of the organizations incur more than USD 12 billion per annum on public cloud services. The pandemic also forced 59% of companies to invest more in the cloud, leading to the development of cloud-based product information management market growth.

The expansion of e-commerce platforms means that customers demand accurate and comprehensive product information to be processed. Large organizations dealing with numerous products need effective product information management functionalities that can disseminate the necessary information through various channels. PIM software enhances the management, development and distribution of data and is compatible with ERP, supply chain and CRM systems. With the increase in the areas of digital commerce, the need for product information management market share increases to manage massive product content. This trend leads to increased use of PIM software by all sorts of end-users.

Moreover, cloud-based PIM solutions are elastic, which means they can accommodate fluctuating amounts of data without the need for new hardware investments. These contribute to enhancing collaboration with other companies by making information accessible by use of the latest technologies. AI and machine learning enhance these solutions by automating data processing, improving product data and data validation. Hence, it maximizes operational performance and minimizes the expenses on IT facilities.

Comprehensive Analysis of Product Information Management Market

Due to market segmentation, the product information management market & information & communication technology industry is growing at an exponential rate. This sort of expansion of the markets practically offers a comprehensive analysis of the specific regions taking into account the supply and demand factors that shape the environment of the hardware & software IT services. These segmentations are methodically segregated by deployment, by enterprise type and by end users. The deployment include, Cloud and On-premise. The enterprise type include, Small & Medium Enterprises and Large Enterprises. The end-user include, Retail & E-commerce, Manufacturing, IT & Telecommunication, Healthcare, Automotive and Others.

North America dominates the PIM software market because of higher e-business traffic and efforts to improve customer experience. The dominance of large market players in North America also fuels PIM adoption. It helps retail and e-commerce businesses in increasing their sales within the U.S. and Canada.

The leading players in the market have a significant impact on the information & communication technology industry guaranteeing industrial prospectus development and establishing market benchmarks. These players include, Akeneo (France), Informatica Inc. (Germany), Magnitude Software, Inc. (Agility Multichannel) (Sweden), IBM Corporation (U.K.), Inriver AB (Germany), Salsify Inc. (U.S.), Syndigo LLC (U.S.), SAP SE (Germany), Stibo Systems (U.S.) and Pimcore (U.S.). These market players give a ‘level-playing’ competitive environment.

In March 2024, N Brown introduced a new PIM system to the user to improve the customer experience through an enriched product description such as size, fabric and fitting. The system was intended to enhance the accuracy and standardization of pre-purchase communications regardless of the means used.

Segmentation Table

Global Product Information Management Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 21.1% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Deployment, Enterprise Type, End-user, and Region

By Deployment - Cloud

- On-premise

By Enterprise Type - Small & Medium Enterprises

- Large Enterprises

By End-user - Retail & E-commerce

- Manufacturing

- IT & Telecommunication

- Healthcare

- Automotive

- Others (Government, Transportation & Logistics)

By Region - North America (By Deployment, By Enterprise Type, By End-user, and By Country)

• U.S. (End-user)
• Canada (End-user)
• Mexico (End-user)

- Europe (By Deployment, By Enterprise Type, By End-user, and By Country)

• U.K. (End-user)
• Germany (End-user)
• France (End-user)
• Italy (End-user)
• Spain (End-user)
• Russia (End-user)
• Benelux (End-user)
• Nordics (End-user)
• Rest of Europe

- Asia Pacific (By Deployment, By Enterprise Type, By End-user, and By Country)

• China (End-user)
• India (End-user)
• Japan (End-user)
• South Korea (End-user)
• ASEAN (End-user)
• Oceania (End-user)
• Rest of Asia Pacific

- Middle East and Africa (By Deployment, By Enterprise Type, By End-user, and By Country)

• Turkey (End-user)
• Israel (End-user)
• GCC (End-user)
• South Africa (End-user)
• North Africa (End-user)
• Rest of the Middle East & Africa

- South America (By Deployment, By Enterprise Type, By End-user, and By Country)

• Brazil (End-user)
• Argentina (End-user)
• Rest of South America


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