Product Information Management (PIM) is a set of processes designed to provide a single repository for storing all outgoing product data. PIM tools are used to centralize and manage e-commerce business product information to ensure a single, central repository system of records with accurate view of product data. PIM gathers data from multiple data sources irreverent of data formats and combines them into a single source of master data. It also possesses capabilities y to identify and fix problematic data and distributes data to all the desired distribution channels. In addition, these PIM tools can be integrated with other software such as business process management, catalog management, and data quality management. The PIM solutions are widely used by stakeholders for easy coordination regarding changing product information across all channels of communication. This ensures a business’s entire ecosystem has consistent and up-to-date information and considered as a major factor propelling the global product information management market growth.
Growing e-commerce trade across the globe has led to the indispensable requirement for centrally managed data throughout the supply chain and considered as a major factor expected to drive the adoption of the global product information management. In addition, rise in demands to meet end-user needs with constant development in product offerings, increase in demand for business transparency, and need of faster communication system from stakeholder to production till distribution channels are some of the major factors driving the growth of the global product information management market. However, data security concerns and diversified data legislations and regulations existing across different regions and verticals are major restraining factors hindering the global product information management market growth.
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The global product information management market is segmented based on component, deployment, enterprise size, industry vertical, and region. Based on component, it is bifurcated into software and service. The software has been further bifurcated into multi-domain product information management and single-domain product information management. On the basis of service type, it is classified into consulting & system integration and training, support, & maintenance. Based on deployment, the market is categorized into on-premise, and cloud. Based on enterprise size, it is classified into large enterprises and SMEs). Based on industry vertical, it is classified into energy & utilities, media & entertainment, retail & e-commerce, government & defense, healthcare & life sciences, IT & telecom, healthcare & life sciences, BFSI, and Others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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This report provides the profiles of the key players in the global product information management market, which include Pimcore, SAP SE, Inriver, Inc., Informatica LLC, IBM Corporation, Oracle Corporation., ADAM Software, Inc., Riversand Technologies, Inc., Stibo Systems (Stibo Group), and Agility Multichannel (Magnitude Software, Inc.) These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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