Key Players of Product Information Management Market are IBM Corporation, SAP SE, Informatica LLC. , Magnitude Software, Contentserv, Plytix Limited, Salsify Inc. , Riversand Technologies Inc. , Pimcore USA, Akeneo SAS, Stibo System, EnterWorks Acquisition Inc.
New York, Sept. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Product Information Management Global Market Report 2022” – https://www.reportlinker.com/p06316992/?utm_source=GNW
Agility Multichannel Limited, Mobius, Profisee, Censhare, Vinculum, Truecommerce and Vimedici.
The global product information management market is expected to grow from $10.33 billion in 2021 to $12.21 billion in 2022 at a compound annual growth rate (CAGR) of 18.1%. The product information management market is expected to reach $24.82 billion in 2026 with a CAGR of 19.4%.
The product information management market includes sales of product information management software solutions by entities (organizations, individual merchants, and partnerships) that refer to the process of managing and improving product information and relevant digital content across many teams to deliver an engaging customer experience and sell products successfully across many sales and marketing channels. Product information management ensures that the entire commerce ecosystem has consistent and up-to-date information.
The main types of product information management are software and services. Software refers to the programs and other operating information used by a computer.
Product information management can be deployed on-premises, in the cloud by the organization of sizes such as large enterprises and small to medium sized businesses used by consumer goods and retail, banking, financial services and insurance (BFSI), telecommunications and IT, manufacturing, transport and logistics, media and entertainment, other end users.
North America was the largest region in the product information management market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Product Information Management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Product Information Management Market research report is part of a series of new reports that provide statistics on the Product Information Management market, including the global market size of Product Information Management industry, regional shares, competitors holding Product Information Management market share, detailed segments of the Product Information Management market. , market trends and opportunities, and any other data you may need to thrive in the product information management industry. This Product Information Management Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The demand for product information management software from the booming e-commerce industry across the globe is contributing to the growth of the market. Product information management systems enable companies to properly assess, structure and validate their brand and product data before sharing it with all supply chain partners. in the appropriate formats and at the appropriate time.
E-commerce companies regularly experiment with new digital technologies and integrate them into their business processes to meet 100% of their customers’ demands as well as the pace of e-commerce development. For example, e-commerce has been expanding rapidly due to rapid digitalization and an ever-increasing number of online shoppers has fueled the growth of global e-commerce, with sales jumping to $26.7 trillion in 2019, up 4% from 2018. Thus, the growing demand for product information management software from the booming e-commerce industry is expected to propel the market growth shortly.
The integration of artificial intelligence and machine learning capabilities to improve information management and customer experience is driving the product information management market forward. Artificial intelligence (AI) and machine learning have quickly become one of the hottest trends in the industry, and many companies are eager to use these technologies to improve their digital experiences.
Businesses can deliver more efficient, intuitive, and meaningful consumer shopping experiences with updated product data on the commerce website by integrating AI into PIM systems. For example, in 2019, Akeneo, a technology company based in France, launched Akeneo PIM 3.0 to connect to its AI-powered Franklin library of 50 million products, which uses AI to automatically update descriptions and product information. Therefore, the integration of artificial intelligence and machine learning capabilities to improve information management and customer experience helps the market grow more efficiently.
In January 2021, inRiver, a Swedish product information management company, acquired Detail online for an undisclosed amount. The acquisition contributes to the only digital PIMMM solution that accelerates time to market and improves shopping experiences by leveraging the data needed to improve content performance and fix failing channels or products in real time.
Detail online is a Swedish AI-powered analytics solution to help brands monitor product information across multiple online channels.
The countries covered in the Product Information Management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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