during the forecast period. PIM has enabled organizations to securely manage unstructured product information including product name, title, description, SKU, cost, and pricing. It enables organizations to eradicate ad hoc processes by ensuring compliance with key security and regulatory standards.
New York, July 8 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Product Information Management Market by Component, Solution, Deployment Type, Organization Size, Vertical, and Region – Global Forecast to 2027” – https : //www.reportlinker.com/p03827286/?utm_source=GNW
According to Services, Training, Support and Maintenance Services segment to grow at the highest CAGR during the forecast period
Training services involve the support provided to PIM solutions to help users gain detailed knowledge and systematic training on various automation processes. They also help familiarize users with the skills needed to effectively operate newly integrated solutions.
Training programs enable organizations to fill knowledge gaps by providing up-to-date information to data management representatives on current technology advancements and product updates. Additionally, support and maintenance services help organizations understand changing business conditions, customer information, market trends, or service inconveniences.
Support and maintenance services include 24/7 troubleshooting assistance, upgrade of existing platform, repair or replacement of damaged components, emergency response management, software maintenance, proactive services, technical support by technicians and test case management. These services can be offered remotely using telephones, web conferencing and ticketing frameworks or by providing on-site assistance.
Based on regions, Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
By region, Asia-Pacific is estimated to hold the highest compound annual growth rate (CAGR) of 21.1% in the PIM market. The high growth rate in the Asia-Pacific region can be attributed to the proliferation of innovative technologies, combined with growing business needs and the increase in the number of organizations adopting PIM solutions. APAC is expected to experience vast growth opportunities in the coming years due to high internet penetration, high consumer spending, and increasing adoption of advanced technologies, such as automation and cloud. Additionally, in 2020, APAC internet traffic was 53%. Therefore, in multi-domain PIM solutions, Wi-Fi statistics can play a major role in gaining insights into customer behavior by leveraging real-time and historical customer data, which can then be used to improve product information across all channels. For this reason, many organizations in APAC are implementing PIM platforms to improve the orchestration of product information across multiple silos and data sources, such as supplier portals, supplier databases, ERP systems and the web; enrich product information, improve customer engagement and experience, and attract new customers.
By component, solutions to grow at the highest CAGR during the forecast period
Based on components, solutions are estimated to hold the highest compound annual growth rate (CAGR) in the PIM market. The solutions segment of the PIM includes multiple domains and a single domain.
Solution providers offer tailor-made solutions to businesses based on business needs. PIM is an evolving technology that addresses critical business issues related to product information management with unprecedented efficiency.
PIM solutions collect and combine product information such as product attributes, specifications and taxonomies from multiple sources including data silos, web portals, e-catalogs, supplier databases , ERP systems, social media websites and e-commerce websites. solutions as a stand-alone platform or complete multi-domain solutions.
These solutions help end users easily manage product information and improve overall operational performance. PIM solutions also enable companies to create, update and manage product information to optimize synchronization and release of product data, ensure faster TTM, increase brand awareness, drive online traffic and sales and improve customer experience and satisfaction. The rise of digitalization and cloud computing over the past few years has led to an increased demand for PIM solutions worldwide. The emergence of domestic and international e-commerce has further boosted the growth of the solutions segment.
Distribution of primaries
In-depth interviews were conducted with CEOs, chief innovation and technology officers, system integrators, and executives from various key organizations operating in the PIM market.
• By company: Level I: 18%, Level II: 44% and Level III: 38%
• By designation: C-level executives: 32%, D-level executives: 36% and managers: 32%
• By region: APAC: 18%, Europe: 26%, North America: 38%, MEA: 10%, Latin America: 8%
The report includes the study of key players offering PIM solutions and services. It profiles the major vendors of the PIM market.
Some of the major vendors in the PIM market are Oracle (US), SAP (US), IBM (US), Informatica (US), Pimcore (Austria), Akeneo (France), inriver (Sweden) , Winshuttle (US), Riversand (US), Salsify (US), Aprimo (US), Stibo Systems (Denmark), Contentserv (Switzerland), Mobius (India), Perfion (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), PIMworks (US), Truecommerce (US), Vimedici (Germany), Magnitude Software (US), Plytix (Denmark) and Syndigo (United States).
The market study covers the PIM market across all segments. It aims to estimate the market size and the growth potential of this market across various segments, such as component, deployment type, organization size, vertical, and region.
It includes an in-depth competitive analysis of major market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Purchasing the Report
The report would provide market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall PIM market and its sub-segments. It would help stakeholders understand the competitive landscape and acquire more information to better position their business and plan appropriate go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with insights on key market drivers, restraints, challenges, and opportunities.
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