Global Product Information Management Market Size, Trends, and Analysis - Forecasts to 2026 By Component (Solution [Multi-Domain, Single Domain], Services [Consulting and Implementation, Training, Support and Maintenance]), By Deployment Type (On-premise, Cloud), By Organisation Size (Large Enterprises, Small and Medium Enterprises), By Vertical (BSFL, Consumer Goods and Retail, Manufacturing, IT and Telecom, Transportation and Logistics, Media and Entertainment, Other verticals like Education, and Travel and Hospitality), By Region (North America, Europe, Asia Pacific, MEA, and CSA) and Competitive Landscape
Product Information Management (PIM) Market is a system that helps its end-user to form a centralized location for storing all the essential data regarding software products. It enables the companies to sort and integrate the data in a secure manner. Product Information Management makes it easy for the companies to extract the data without going through complex procedures and deteriorating the quality. PIM also facilitates the companies by providing efficient user-friendly product content. The drivers such as increased demand for centralized storing of databases and information, demand for data storages that are cost-effective as well as time-efficient, tremendous demand from the e-commerce industry, and better data synchronization has resulted in accelerating growth of this market. However, the increasing risk in privacy maintenance and data security is restraining the companies from adopting PIM systems, causing difficulties in growth.
By component analysis, the market is explained into solutions and services. The Solution segment in this market holds the dominant position by the highest growth in 2020. It provides ease in operating and handling product information to the companies and also assures time efficiency and error reduction. However, the training, support, and maintenance segment of the service component are projected to have the fastest growth rate in the forecasted period.
The PIM market is segmented into two deployment modes, namely, On-premise and Cloud. As of 2020, the On-premise deployment modelheld the largest share in the PIM market due to its ability to ensure security in data information handling, However, by 2020 itself the Cloud-based deployment has been showcasing a fast takeover of the market. The cloud-based deployment will register the fastest growth rate between 2021-2026.
Based on organization size analysis,large enterprises willdominate the market and generate huge revenue between the forecast period. It has also been projected that the large enterprises will continue holding the highest share of this market during the forecasted period. PIM market ensures an efficient centralized data storage system, thus, attracting more investments from large enterprises in the market. These large enterprises demand convenient, customer-friendly, and reliable services, leading to high investments and growth of the market.
Based on the vertical analysis, the PIM market is explained and divided into BFSI, Media and Entertainment, Consumer Goods and Retail, Transportation, Manufacturing, and IT and Telecom, among others. The media and entertainment segment will register the highest growth rate between the forecast timeframe. The ability of the PIM market to offer visibility, optimization, and reliability has propelling high demand from Media and Entertainment vertical.
Based on the region, the market is segmented into Asia-Pacific, Europe, Middle East, and Africa, North America, and Central & South America. North America is projected to hold dominance in the market by accounting for the highest growth rate compared to other regions. The increasing number of PIM companies and rising government investments are driving growth in this region. Along with these, the advancements in technology, incorporation of Artificial Intelligence (AI) in countries like the USA and Canada are boosting the growth of this PIM market within the North American region.
Akeneo (France), Aprimo (US), Oracle (US), Mobius (India), Pimcore (Austria), SAP (US), IBM (US), Informatica (US), Inriver (Sweden), Winshuttle (US), Riversand (US), Plytix (Denmark), Salsify (US), Stibo Systems (Denmark), Contentserv (Switzerland), Perfion (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), Pimworks (US), Truecommerce (US), Vimedici (Germany), Magnitude Software (US), and Syndigo (US) among others, are the key players in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, Pimcore announced improvisations and updates in its system, enabling new features and deliverables.
In June 2020, Winshuttle signed a partnership with ABBYY to facilitate companies with digital transformation.
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The Global Product Information Management Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Product Information Management Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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