Product Information Management Software Market Techniques, Challenges, Opportunities, Top Company Profile- Catsy, Plytix
#3200,SEATTLE, WASHINGTION , UNITED STATES, April 8, 2022 /EINPresswire.com/ — Coherent Market Insights has released a new research study on the “Product Information Management Software (PIM) Market” which aims to provide a thorough examination of the factors influencing global business introduction and outlook. The Global Product Information Management Software (PIM) Market Report’s detailed information and an overview highlighting the most recent trends in various regions. Leading market participants will benefit from the trading insights provided in this report. The Product Information Management Software (PIM) Market research report is an intelligence report that includes precise and valuable data on market size, development countries, market share, and revenue forecasts through 2027. It also provides information on the market’s development and capabilities.
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Akeneo, Salsify Inc., Catsy, Plytix, Syndigo LLC, Pimcore, inRiver, PropelPLM, Inc., Syndigo LLC, EnterWorks and Sales Layer
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The product information management software market is expected to exhibit a CAGR of XX % during the forecast period owing to the increasing adoption of PIM in the retail and the e-commerce industry. For instance, in January 2019, Unbxd, an e-commerce platform, announced the launch an AI-powered PIM solution that enables brands and retailers to get their products to market faster by automating the creation, collaboration, and distribution process and delivering memorable product experiences that convert shoppers.
Among regions, North America and Asia Pacific are expected to witness robust growth in the product information management software (PIM) market due to the increasing internet and smartphone penetration and the rapid growth of the e-commerce industry. For instance, according to the India Brand Equity Foundation (IBEF), the Indian e-commerce market is expected to grow to US$ 200 billion by 2026, from US$ 38.5 billion as of 2017.
Market Overview:
Product information management (PIM) software helps to collect, manage, and enrich product information, create product catalog, and distribute it across sales and e-commerce channels. PIM makes it easy and fast to create and deliver engaging product experiences. Moreover, PIM user let upload, edit, and distribute SKU-level data across e-commerce channels.
Product information management (PIM) software also facilitates the maintenance of consistent and quality product data and information. It is commonly used by suppliers to streamline the delivery process and improve the quality and consistency of product data, as well as to provide a better product experience to the customer. Thus, the implementation of PIM software is also increasing across the globe.
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On the basis of software, the global product information management software market is segmented into
➡ Single Domain Product Information Management Software
➡ Multi Domain Product Information Management Software
On the basis of services, the global product information management software market is segmented into
➡ Managed Services
➡ Professional Services
➡ Training Services
On the basis of deployment, the global product information management software market is segmented into
➡ On-Premises
➡ Cloud
On the basis of end-use industry, the global product information management software market is segmented into
➡ Banking, Financial Services, and Insurance
➡ Healthcare
➡ IT and Telecom
➡ Manufacturing
➡ Retail
➡ Automotive & Transportation
➡ Others
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Rise in demand for product information management solutions and increasing need to offering enhanced customer services is expected to furl the product information management software (PIM) market growth during the forecast period. For instance, in May 2020, Widen launched a PIM solution that enables brands to assemble and distribute marketing copy, specs, and assets with the Widen Collective. The platform will help companies fast-track product launches and ensure the accuracy of their product listings around the web.
Moreover, increase in incorporation of Artificial Intelligence (AI) and Machine Learning (ML) due to favorable government initiatives to encourage the adoption of AI and ML across various industries is expected to accelerate the growth of the product information management software (PIM) market. For instance, in 2019, U.S. President launched American Artificial Intelligence Initiative, the United States’ national strategy for maintaining American leadership in AI. This in turn is expected to boost the PIM software demand.
Mr. Shah
Coherent Market Insights Pvt. Ltd.
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