Global Product Information Management Market Size, Trends & Growth Opportunity, By Component (Solution and Services), By Vertical (Consumer Goods and Retail, IT& Telecom, BFSI, Healthcare & Life Sciences, and Others), By Region and Forecast till 2027>
Product Information Management
The global Product Information Management market was valued at USD 7,003.98 million in 2021 and is expected to reach USD 14,809.81 million by 2027, growing at a CAGR of 6.89% from 2022 to 2027.
The process of handling all the data that is required to market and sell the products is referred to as product information management, also known as PIM. The motto of implementing PIM, within organizations, is to create quality data both for internal use and distribution channels. The application of PIM also encourages the count of sales channels, offers a wide array of products with an accurate description, and determines numerous requirements. The elevating demand for centralized data management tools is expected to offer a steady growth to the market
Market Drivers
Major driving factors for the product information management Market are the adoption of product information management (PIM) in the retail and e-commerce industry due to the growing focus on enhancing customer experience and the adoption of artificial intelligence and retail analytics tools in the retail and e-commerce sector.
Also, due to digitization, customers have the power to access product information through numerous sources.
Challenges
The increase in number of cyber-attacks is consequential in growing concerns regarding data security. Cyber-attacks are among the top 5 risks to global stability according to the World Economic Forum, as of 2019.
Furthermore, the growing data breaches is another factor predicted to hamper market growth.
Market Segmentation
Product Information Management market is segmented into component such as Solution and Services. Further, market is segmented into vertical such as Consumer Goods and Retail, IT& Telecom, BFSI, Healthcare & Life Sciences, and Others.Also, Product Information Management Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Regional Analysis
North America is anticipated to dominate the market because of the rising adoption of advanced technologies to decrease manual tasks and streamline workflows among the region's enterprises. The development in e-commerce also contributes to the market's growth.
Asia-Pacific region likely to register substantial growth in product information management market due to the increasing need for data storage and security. Also, the massive market potential in Asia-Pacific is expected to entice several foreign companies to grow there.
Market Key Players
Various key players are discussed in this report such as SAP, IBM, Informatica, Oracle, Akeneo, Pimcore, Salsify, inRiver, Stibo Systems, and Contentserv
Industry development
May 2021 - Amazon, the largest online retailer, opened its groundbreaking Amazon Go concept store to the public in Seattle in the United States. The increase in these types of innovation would directly grow the demand for the product information management market.
June 2021 - Walmart Inc. announced plans to expand its online grocery delivery option to more than 40% of the United States households by the year's end. These trends are expected to be instrumental in driving the PIM market in the retail sector.
Market Tacxonomy
By Component
- Solution
- Services
- Consumer Goods and Retail
- IT& Telecom
- BFSI
- Healthcare & Life Sciences
- Others
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- What are the Key Opportunities in Global Product Information Management Market?
- What will be the growth rate from 2022 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
- What are the strategies adopted by key players?
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Product Information Management Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Product Information Management Market, By Component
- 5.1 Y-o-Y Growth Comparison, By Component
- 5.2 Global Product Information Management Market Share Analysis, By Component
- 5.3 Global Product Information Management Market Size and Forecast, By Component
- 5.3.1 Services
- 5.3.2 Solution
- 6 lobal Product Information Management Market, By Vertical
- 6.1.Y-o-Y Growth Comparison, By Vertical
- 6.2 Global Product Information Management Market Share Analysis, By Vertical
- 6.3 Global Product Information Management Market Size and Forecast, By Vertical
- 6.3.1 Consumer Goods & Retail
- 6.3.2 IT & Telecom
- 6.3.3 BFSI
- 6.3.4 Healthcare & Life Sciences
- 6.3.5Others
- 7 Global Product Information Management Market, By Region
- 7.1 Global Product Information Management Market Share Analysis, By Region
- 7.2 Global Product Information Management Market Share Analysis, By Region
- 7.3 Global Product Information Management Market Size and Forecast, By Region
- 8North America Product Information Management Market Analysis and Forecast (2022 – 2027)
- 8.1 Introduction
- 8.2 North America Product Information Management Market Share Analysis, By Component
- 8.3 North America Product Information Management Market Size and Forecast, By Vertical
- 8.4 North America Product Information Management Market Size and Forecast, By Country
- 8.4.1 U.S
- 8.4.2 Canada
- 8.4.3 Mexico
- 9Europe Product Information Management Market Analysis and Forecast (2022 – 2027)
- 9.1 Introduction
- 9.2 Europe Product Information Management Market Share Analysis, By Component
- 9.3 Europe Product Information Management Market Size and Forecast, By Vertical
- 9.4 Europe Product Information Management Market Size and Forecast, By Country
- 9.4.1 Germany
- 9.4.2 France
- 9.4.3 UK
- 9.4.4. Rest of Europe
- 10Asia Pacific Product Information Management Market Analysis and Forecast (2022 – 2027)
- 10.1 Introduction
- 10.2 Asia Pacific Product Information Management Market Share Analysis, By Component
- 10.3 Asia Pacific Product Information Management Market Size and Forecast, By Vertical
- 10.4 Asia Pacific Product Information Management Market Size and Forecast, By Country
- 10.4.1 China
- 10.4.2 Japan
- 10.4.3 India
- 10.4.4. Rest of Asia Pacific
- 11Latin America Product Information Management Market Analysis and Forecast (2022 – 2027)
- 11.1 Introduction
- 11.2 Latin America Product Information Management Market Share Analysis, By Component
- 11.3 Latin America Product Information Management Market Size and Forecast, By Vertical
- 11.4 Latin America Product Information Management Market Size and Forecast, By Country
- 11.5.1 Brazil
- 11.5.2 Rest of Latin America
- 12Middle East Product Information Management Market Analysis and Forecast (2022 – 2027)
- 12.1 Introduction
- 12.2 Middle East Product Information Management Market Share Analysis, By Component
- 12.3 Middle East Product Information Management Market Size and Forecast, By Vertical
- 12.4 Middle East Product Information Management Market Size and Forecast, By Country
- 12.5.1. Saudi Arabia
- 12.5.2. UAE
- 12.5.3. Egypt
- 12.5.4. Kuwait
- 12.5.5. South Africa
- 13Competitive Analysis
- 13.1 Competition Dashboard
- 13.2 Market share Analysis of Top Vendors
- 13.3 Key Development Strategies
- 14Company Profiles
- 15.1 SAP
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 IBM
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Informatica
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 Oracle
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Akeneo
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 Pimcore
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 Salsify
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 inRiver
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 Stibo Systems
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
- 15.10 Contentserv
- 15.10.1 Overview
- 15.10.2 Offerings
- 15.10.3 Key Financials
- 15.10.4 Business Segment & Geographic Overview
- 15.10.5 Key Market Developments
- 15.10.6 Key Strategies
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