Reliable Data You Can Trust
Reliable Data You Can Trust
A
recent report published by Infinium Global Research on product information
management (PIM) market provides in-depth analysis of segments and sub-segments
in the global as well as regional product information management (PIM) market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional product information management (PIM)
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global product
information management (PIM) market. According to the report, the global
product information management (PIM) market is projected to grow with a healthy
CAGR over the forecast period of 2020-2026.
Product
information management (PIM) refers to the central depot system of record
giving the retailers a single view of the product data. It aids to store,
manage, and handle all the data regarding the products to market and sell
products across numerous sales channels. Furthermore, it helps the
organizations to provide better customer satisfaction as it allows them to view
reliable information regarding an extensive range of products at a single
location. Product information management also helps in the easy extraction of
data regarding a particular product. Using PIM, extraction of data associated
with any product is possible without compromising on the compliance
requirements and data quality. Moreover, product information management
streamlines the processes for generating, validating, and broadcasting the
customer-ready product content. Additionally, the current concern over the
spread of coronavirus is also expected to have a positive impact on the product
information management (PIM) market. The COVID-19 outbreak considerably
accelerated the existing trend toward digital marketplaces in the predictable
future. As stated by the Flexera 2020 State of the Cloud Report, 93% of
enterprises have a multi-cloud strategy, and 87% have a hybrid cloud strategy.
In addition, 20% of enterprises spend more than USD 12 million per year on
public clouds, and 59% of enterprises expect cloud usage to surpass prior
plans, because of the COVID-19 situation. This will give an upsurge in the
acceptance of cloud-based product information management offerings, thereby
creating enormous opportunities for the vendors.
Increasing
demand for centralized data storage of information related to products is
driving the product information management (PIM) market. Centralized data
storage is aiding companies to easily manage and organize all the data
associated with their products. Data sources are restructured with a single
change in the centralized data storage, saving time, and cost required for data
management. Furthermore, compliance and verification requirements are
increasing owing to the rising number of threats to information security.
Product information management provides safe and secure access to information
stored in the centralized database. Access is allowed only after completing
authentication of all the security credentials required. All these factors are
expected to boost the product information management (PIM) market growth during
the forecast period. However, the integration of Big Data and business
intelligence applications with cloud storage provides tremendous growth
opportunities for the market. On the other hand, a lack of awareness about
product information management is hampering the growth of the market. Also,
data security concerns are anticipated to restrain market growth in the near
future.
Among
the geographies, the North America region is expected to hold the largest share
in the global product information management (PIM) market. The industry is
expected to offer huge opportunities for market growth on account of the
presence of numerous product information management companies. Furthermore, the
Asia Pacific region is expected to witness high growth in the product
information management (PIM) market during the forecast period. The intrinsic
strength, progressive trade agreements among countries, and recovering global
demand are anticipated to provide positive opportunities for the market across
the region.
The
report on global product information management (PIM) market covers segments
such as deployment type, offering, and end-user. On the basis of deployment
type, the sub-markets include on-premise, and cloud. On the basis of offering,
the sub-markets include solution, and services. On the basis of end-user, the sub-markets
include retail, BFSI, media & entertainment, healthcare, and IT &
telecommunication.
The
report provides profiles of the companies in the market such as SAP SE, Salsify
Inc., Syndigo LLC, Informatica LLC, Riversand Technologies, Inc., Stibo Systems
Inc., Oracle Corporation, Agility Multichannel Limited, IBM Corporation, and PIMcore.
The
report provides deep insights into the demand forecasts, market trends, and
micro and macro indicators. In addition, this report provides insights into the
factors that are driving and restraining the growth in this market. Moreover,
The IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of product information management (PIM)
market. Moreover, the study highlights current market trends and provides
forecast from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.