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Product Information Management (PIM) Market (Deployment Type - On-premise, and Cloud; Offering - Solution, and Services; End-user - Retail, BFSI, Media & Entertainment, Healthcare, and IT & Telecommunication): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : February, 2021

  • Rep Id : ICT00243

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on product information management (PIM) market provides in-depth analysis of segments and sub-segments in the global as well as regional product information management (PIM) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional product information management (PIM) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global product information management (PIM) market. According to the report, the global product information management (PIM) market is projected to grow with a healthy CAGR over the forecast period of 2020-2026.

 

Market Insight

Product information management (PIM) refers to the central depot system of record giving the retailers a single view of the product data. It aids to store, manage, and handle all the data regarding the products to market and sell products across numerous sales channels. Furthermore, it helps the organizations to provide better customer satisfaction as it allows them to view reliable information regarding an extensive range of products at a single location. Product information management also helps in the easy extraction of data regarding a particular product. Using PIM, extraction of data associated with any product is possible without compromising on the compliance requirements and data quality. Moreover, product information management streamlines the processes for generating, validating, and broadcasting the customer-ready product content. Additionally, the current concern over the spread of coronavirus is also expected to have a positive impact on the product information management (PIM) market. The COVID-19 outbreak considerably accelerated the existing trend toward digital marketplaces in the predictable future. As stated by the Flexera 2020 State of the Cloud Report, 93% of enterprises have a multi-cloud strategy, and 87% have a hybrid cloud strategy. In addition, 20% of enterprises spend more than USD 12 million per year on public clouds, and 59% of enterprises expect cloud usage to surpass prior plans, because of the COVID-19 situation. This will give an upsurge in the acceptance of cloud-based product information management offerings, thereby creating enormous opportunities for the vendors.

 

Increasing demand for centralized data storage of information related to products is driving the product information management (PIM) market. Centralized data storage is aiding companies to easily manage and organize all the data associated with their products. Data sources are restructured with a single change in the centralized data storage, saving time, and cost required for data management. Furthermore, compliance and verification requirements are increasing owing to the rising number of threats to information security. Product information management provides safe and secure access to information stored in the centralized database. Access is allowed only after completing authentication of all the security credentials required. All these factors are expected to boost the product information management (PIM) market growth during the forecast period. However, the integration of Big Data and business intelligence applications with cloud storage provides tremendous growth opportunities for the market. On the other hand, a lack of awareness about product information management is hampering the growth of the market. Also, data security concerns are anticipated to restrain market growth in the near future.

 

Among the geographies, the North America region is expected to hold the largest share in the global product information management (PIM) market. The industry is expected to offer huge opportunities for market growth on account of the presence of numerous product information management companies. Furthermore, the Asia Pacific region is expected to witness high growth in the product information management (PIM) market during the forecast period. The intrinsic strength, progressive trade agreements among countries, and recovering global demand are anticipated to provide positive opportunities for the market across the region.

 

Segment Covered

The report on global product information management (PIM) market covers segments such as deployment type, offering, and end-user. On the basis of deployment type, the sub-markets include on-premise, and cloud. On the basis of offering, the sub-markets include solution, and services. On the basis of end-user, the sub-markets include retail, BFSI, media & entertainment, healthcare, and IT & telecommunication.

 

Companies Profiled:

The report provides profiles of the companies in the market such as SAP SE, Salsify Inc., Syndigo LLC, Informatica LLC, Riversand Technologies, Inc., Stibo Systems Inc., Oracle Corporation, Agility Multichannel Limited, IBM Corporation, and PIMcore.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of product information management (PIM) market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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