08-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Product Information Management (PIM) Market By Deployment Type (Cloud-Based and On-Premise), By Operating System (iOS, Android, and Windows), and By Verticals (Retail, Healthcare, Manufacturing, Energy, and Logistics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global product information management (PIM) market was valued at approximately USD 8,125 million in 2018 and is expected to reach a value of around USD 61,263 million by 2027, at a CAGR of around 25.1 % between 2019 and 2027.
Product information management (PIM) refers to the handling of information to promote and sell the products through sales channels. Moreover, the product data can be utilized to either share or receive information about the product with the ERP systems, website, print media, and PLM systems. The product information management systems support many geographic sites, multilingual information, maintenance or modification of product data in the centralized directory.
Browse the full “Product Information Management (PIM) Market By Deployment Type (Cloud-Based and On-Premise), By Operating System (iOS, Android, and Windows), and By Verticals (Retail, Healthcare, Manufacturing, Energy, and Logistics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/product-information-management-pim-market-by-deployment-type-155
Thriving eCommerce sector to steer the market growth
The rapid increase in the eCommerce activities across the globe is anticipated to drive the expansion of the product information management (PIM) industry over the forecast timeline. Moreover, an increase in the online retail and multichannel commerce activities is anticipated to result in the lucrative increase in the product data, thereby raising complicatedness for handling it. This, in turn, has elevated the acceptance of product information management services for handling product data across various sales channels and sites.
Moreover, escalating demand for centralized data management tools is further projected to drive the market growth during the period from 2019 to 2027. Product information management services aid firms in effectively handling a wide array of data and facilitates easy accessibility via centralization. Apart from this, the massive use of business intelligence systems by the small & medium enterprises is projected to further accelerate the market demand over the forecast timeline. Nonetheless, a low level of awareness about PIM software & PIM services can decimate business growth during the period from 2019 to 2027. Apart from this, data security concerns will further impede the market scope over the forecast period.
Cloud-based segment to record highest CAGR over the forecast timeline
The cloud-based segment is likely to register the highest growth rate of over 20% during the forecast period. The growth of the cloud-based segment is attributed to high investments in cloud software including PIM for bringing favorable changes in business and increases its efficiency. Apparently, the allocation of funds for developing cloud technology is approximately seven times more than the total IT expenditure.
Retail segment to dominate the verticals landscape over the forecast timeline
The growth of the segment is due to the high acceptance of product information management solutions in shopping activities as well as online retailing activities. Apart from this, a bulge in the usage of PIM in eCommerce sites like Amazon and Flipkart are likely to lucratively influence the segmental growth over the forecast timeline.
North America to contribute a major chunk of the overall market revenue share by 2027
The regional market growth is due to humungous demand for gaining new insights from combined centralized master data in the North American region. Apart from this, the region has been adopting new technologies such as big data analytics and business intelligence coming under PIM services. This, in turn, is set to further leverage the growth of the product information management (PIM) market in North America. The U.S. is slated to be the major regional revenue contributor over the forecast timeline.
The key players included in this market are ADAM Software, InRiver, Agility Multichannel, SAP, Informatica, Oracle, Rivers and Technologies, Stibo Systems, IBM Corporation, and Pimcore.
This report segments the product information management (PIM) market as follows:
Global Product Information Management (PIM) Market: By Deployment Type Segment Analysis
Global Product Information Management (PIM) Market: By Operating System Segment Analysis
Global Product Information Management (PIM) Market: By Verticals Segment Analysis
Global Product Information Management (PIM) Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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