Product Information Management Market
According to a new market research report “Product Information Management (PIM) Market by Component (Solutions & Services), Solution (Multimode & Singlemode), Deployment Type (On-premises & Cloud), Device Size ‘Organization, Vertical, and Region – Global Forecast to 2025’ published by MarketsandMarkets™, the market size is expected to grow from USD 9.0 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 12.2 % over the forecast period. Major factors driving the growth of the PIM industry include the increasing demand for PIM solutions from the booming e-commerce industry and the growing need to offer enhanced customer services.
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The large enterprise segment will hold the largest market size during the forecast period
The adoption of PIM solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period. PIM systems provide a single centralized system for managing product information across industries. Therefore, large companies are investing heavily in advanced technologies to increase their overall productivity and efficiency. The demand for flexible, scalable and convenient services by large enterprises is expected to encourage market players to come up with newer technologies and innovative solutions.
Media and entertainment will register the fastest growth rate during the forecast period
As most of the population stays at home, the use of media and entertainment has increased with double digit growth. Moreover, PIM offers high visibility, scalability, and service optimization that can meet the challenges that have arisen due to the sudden increase in demand in the media and entertainment industry vertical.
APAC is expected to be the fastest growing region over the forecast period
The PIM Market in APAC is expected to grow at the highest growth rate during the forecast period. Intrinsic strength, progressive trade agreements between countries and recovering global demand are driving the PIM market in this region. This growth is evident with the acceptance of new cloud-based PIM solutions, services and platforms by developing countries in this region. APAC is experiencing strong growth due to growing global competition and an exponential increase in e-commerce penetration. Strong economic growth in developing countries, such as India, China, and Vietnam, has led to an increase in the use of online retail and media content.
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Some prominent players in all types of services profiled in the PIM Market study include Oracle (US), SAP (US), IBM (US), Informatica (US), Pimcore ( Austria), Akeneo (France), Inriver (Sweden), Winshuttle (USA), Riversand (USA), Salsify (USA), Aprimo (USA), Stibo Systems (Denmark), Contentserv (Switzerland ), Mobius (India), Perfion (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), Pimworks (US), Truecommerce (US), Vimedici (Germany), Magnitude Software (USA), Plytix (Denmark) and Syndigo (USA).
Mr. Aashish Mehra
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