The global product information management market size is anticipated to reach at USD 11 billion by 2025. The growing need for eradicating data inconsistencies through various data silos along with increasing need to enable real-time visibility into data to decrease Time to Market (TTM) is expected to fuel the growth of the industry over the forecast period.
Product information management enables organizations to store all the essential promotional and technological information related to a software product. With the help of PIM, this data is integrated and stored securely.
The global market for the Product Information Management (PIM) is anticipated to develop at a compound annual growth rate (CAGR) of 20.33% throughout the course of the forecast, to reach US$ 68.1 billion by 2030.
PIM enables global identification, networking, and coordination of software product information to the businesses. Moreover, it also facilitates generating as well as management of central database systems. Product information management also provides the extraction of data for any product without compromising on the data quality and compliance requirement.
Product Information Management (PIM) Market Scope
|Revenue forecast in 2030
|US$ 68.1 billion
|CAGR of 20.33% during 2020-2030
|By Component, By Deployment, By Enterprise Size, By End Use, By Operating System, Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Oracle, SAP, IBM, Informatica, Pimcore, Akeneo, Inriver, Winshuttle, Riversand, Salsify
Key Segment Of The Product Information Management (PIM) Market
By Component (USD Billion)
• Single Domain
• Consulting and Implementation
• Training, Support and Maintenance
By Deployment, (USD Billion)
By Enterprise Size, (USD Billion)
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By End Use, (USD Billion)
• Telecom and IT
• Transportation and logistics
• Media and entertainment
By Operating System, (USD Billion)
Regional Overview, (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Rising e-commerce trade throughout the world has given rise to the indispensable necessity for centrally managed data across the supply chain and thus, responsible for the adoption of product information solutions. Furthermore, growing demand for business transparency, increase in demands to meet end-user requirements with continuous advancements in product offerings, along with the need for quick communication system across different entities of the value chain of the business are some of the key factors fueling the growth of product information management market. However, diversified data regulations and legislations and data security concerns across different industry verticals and regions are likely to hinder the global product information management industry growth.
The global product information management market contains both solutions and services segments. The solutions segment of the product information management component has a maximum revenue share within the global product information management market in 2019. However, the services segment is anticipated to grow at a considerable rate over the forecast period.
Organization Size Segment
Based on the organization size segment, the market is segmented into small & medium, and large enterprises. The market for a large enterprise to possess the largest market share in 2019 since enterprises today is predominantly developing to match their user needs. However, the product information management for small & medium enterprises is expected to experience a significant CAGR from 2020 to 2025.
Based on the deployment segment, the market is bifurcated into two sub-segments that are cloud, and on-premise. In 2019, the on-premise segment gathered the largest market revenue and it is anticipated to govern the product information management market throughout the forecast period. However, the cloud product information management segment is anticipated to grow at a substantial growth rate over the forecast period.
Based on the application, the market is segmented into BFSI, retail, manufacturing, IT & telecom, media & entertainment, healthcare, transportation & logistics, travel & hospitality, and others. The market for retail is anticipated to possess the largest market share in 2019 since the retail & e-commerce companies today are predominantly developing to match their user needs. However, the manufacturing segment is anticipated to grow at a substantial CAGR over the forecast period.
The global product information management market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the product information management applications, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the product information management market in North America.
The major players of the global product information management market are IBM Corporation, SAP AG, Oracle Corporation., InRiverAB, Riversand Technologies, Informatica LLC, Inc., ADAM Software NV, Stibo Systems, Agility Multichannel Ltd., Pimcore GmbH, and more. The product information management market is fragmented with the existence of well-known global and domestic players across the globe.