Product Information Management Market Scope
Product information management (PIM) is a set of business practices and a group of business applications which is mainly focused on managing product information for use across an organization from the supply chain to commerce to customers. A PIM solution offers a single place to collect, manage, and enrich the product information, create product catalogs, and distribute information to sales and E- commerce channels. Using PIM, marketers can dramatically increase product data quality, accuracy, and completeness while simplifying and accelerating product catalogs management. As a result, organizations who use a PIM solution can more easily and rapidly create and provide the compelling product experiences needed to drive good customer experiences, reach more markets, improve sales conversion rates, and take benefit of new sales channels.
According to AMA, the Global Product Information Management market is expected to see growth rate of 25.2%
The key players in product information management market are primarily focusing on strategic partnerships and new service launch to improve their products and services. They are more focusing on increasing their consumer base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Product Information Management market throughout the predicted period.
SAP SE (Germany), IBM Corporation (United States), Oracle Corporation (United States), Akeneo SAS (France), Agility Multichannel Limited (United States), Catsy (United States), inRiver AB (Sweden), Pimcore GmbH (Austria), Riversand Technologies Incorporation (United States) and Stibo Systems Incorporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are edgenet Inc. (United States), Informatica LLC (United States) and Salsify Incorporation (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Product Information Management market , by Application (Small & Medium Enterprises and Large Enterprises) and Region with country level break-up.
On the basis of geography, the market of Product Information Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On May 21, 2019 – Informatica, the enterprise cloud data management leader, has announced its strategic partnership with Google Cloud with broader and deeper connectivity across the Informatica Intelligent Data Platform, enabling enterprises to accelerate their data-driven digital transformation initiatives on the Google Cloud Platform.
Market Trend
- Increase in Demand for Cloud-Based Solutions Worldwide
- Appearance of Unified Customer View and Client Centricity
Market Drivers
- Rising Need for Centralized Data Storage
- Making New Business Avenues in Organizations
Opportunities
- High Potential Growth in E-Commerce Sector
Restraints
- Concerns Regarding Data Security
- Lack of Awareness about the PIM Software and Services
Challenges
- Flexibility Issue of Expensive PIM Solutions
Key Target Audience
PIM Software Developers, Software Solution Providers, Service Providers, Automotive Industry, Healthcare Industry, Governmental Bodies and Research Firms