Product Information Management Market

Global Product Information Management Market Size (2024 to 2032)

The global product information management market was worth USD 10.10 billion in 2023. The global market is predicted to reach USD 11.33 billion in 2024 and USD 28.46 billion by 2032, growing at a CAGR of 12.2% during the forecast period.

The market value of product information and management is supposed to increase with the surge in investments by SMEs.

MARKET DRIVERS

One of the major driving factors that helps the growth of the global Product Information Management market is the rising demand for PIM solutions and the flourishing e-commerce industry.

Increasing need to offer enhanced customer services is another major growth promoting factor of Product Information Management market. Huge investments by the major key players contributed to the innovation of advanced technologies, which also resulted in an increase in the revenue of the Product Information Management business.

MARKET RESTRAINTS

Privacy risks are one of the major challenges affecting the growth of the global Product Information Management market. Another major restraint hindering the expansion of the market is misapprehensions about data security. Strict government regulations are also a growth controlling factor of this business around the world.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Product Information Management Market Analysis By Component

Among these, the training, support and maintenance segment holds the major share of the product information and management market as these services provide a cost-effective way to ensure the performance at the highest level of in-house staff.

REGIONAL ANALYSIS

Among these regions, North America holds the major share of the market, attributed to the presence of lPIM vendors and technologically advanced countries such as the United States and Canada. The North American region is also expected to dominate the market during the conjecture period.

The Asia Pacific region is expected to have the second-largest share of the market because of the increasing need to offer enhanced customer services to users in local provinces like India, China, Japan, etc., and foreign nations.

The Europe region also has a good market share following the Asia Pacific and North American markets due to the huge investments by companies in research and development to implement novel technologies in this field.

KEY PLAYERS IN THE GLOBAL PRODUCT INFORMATION MANAGEMENT MARKET

Some of the key players of the global Product Information Management market are: Magnitude Software (US), Plytix (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), Pimworks (US), Truecommerce (US), Pimcore (Austria), Akeneo (France),  Inriver (Sweden), Winshuttle (US), Riversand (US), Salsify (US), Oracle (US), SAP (US), IBM (US), Informatica (US), Aprimo (US), Stibo Systems (Denmark), Contentserv (Switzerland), Mobius (India), Perfion (Denmark), Vimedici (Germany) and Syndigo (US).

RECENT HAPPENINGSIN THE GLOBAL PRODUCT INFORMATION MANAGEMENT MARKET

• In October 2020, Pimcore introduced new features and improvements, such as an editable dialog box, improved cache performance, and tree sorting.
• In June 2020, Winshuttle collaborated with ABBYY, an intelligence company, to help organizations and businesses with digital transformation, which involves extracting data from physical documents and automatically loading it into SAP.

DETAILED SEGMENTATION OF THE GLOBAL PRODUCT INFORMATION MANAGEMENT MARKET INCLUDED IN THIS REPORT

This research report on the global product information management market has been segmented and sub-segmented based on the component, deployment type, organization type, vertical, and region. 

By Component

• Solutions
  • Multi Domain
  • Single Domain
• Services
  • Consulting & Implementation
  • Training
  • Support and Maintenance

By Deployment Type

• On-Premises
• Cloud

By Organization Size

• Large Enterprises
• Small and Medium Sized Enterprises (SMEs)

By Verticals

• Banking
• Financial Services and Insurance (BFSI)
• Consumer Goods and Retail
• Manufacturing
• IT and Telecom
• Transportation and Logistics
• Media and Entertainment
• Education
• Travel and hospitality

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa