New York, NY, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Product Information Management Market By Deployment Type (On-Premises and Cloud-Based), By Operating System (iOS, Windows, Android, and Others), and By Vertical (Retail, Manufacturing, Logistics, Energy, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global product information management market was approximately USD 8,125 million in 2018 and is expected to generate around USD 61,263 million by 2027, at a CAGR of around 25.1% between 2019 and 2027.

Product information management (PIM) is a business applications category that manages product information for its usage across an entire organization, i.e., from supply chain to commerce to customers. A PIM solution provides a one-stop solution to collect, manage, and enrich product information, create product catalogs, and distribute information to sales and e-commerce channels. Information technology has become an essential part of almost all organizations globally. Product information management facilitates easy access to the information and helps in strategic data storage techniques while maintaining data quality. Digitization has increased the speed and volumes of data, which has created the need for additional levels of data security and storage. PIM provides organizations with a centralized system to improve the effectiveness of their promotional activities along with efficiently managing their various distribution channels. The integration of business intelligence and big data analytics cloud storage is generating new growth opportunities for the product information management market.

Browse through 54 Tables & 30 Figures spread over 126 Pages and in-depth TOC on “Global Product Information Management Market Size 2018: Industry Share, Growth, Analysis, and Forecast Up to 2027”.

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Based on the deployment type, the market for product information management is divided into on-premises and cloud-based. The on-premises segment held a major market share in 2018. Additionally, the cloud-based segment is likely to register the highest CAGR in the future, as cloud-based systems provide companies with services that can be used on a pay-per-use basis. Furthermore, cloud-based deployment offers low dependency on in-house IT personnel, the limited requirement for hardware infrastructure, no licensing costs, and low maintenance costs enables companies to focus more on their core competencies.

By operating system, the product information management market is fragmented into android, iOS, windows, and others. The android segment accounted for the major share of the global product information management market in 2018, as the android segment is cost-effective and has standardized operating system platforms along with being easy to handle interface. This, in turn, provides a consistent user interface across devices from different hardware manufacturers.

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Based on vertical, the market comprises manufacturing, retail, logistics, healthcare, energy, and others. The retail segment is anticipated to dominate the global market, due to the growing PIM adoption for online shopping and increasing use of PIM in shopping sites like Flipkart, Amazon, etc. 

North America dominated the global product information management market in 2018, due to excellent and supportive healthcare coverage and advancements in technology. The U.S. leads the market for product information management in North America, owing to the growing demand for reference and centralized master data and gain meaningful insights from this master data. The U.S. is rapidly adopting this technological innovation, i.e., the integration of business intelligence tools and big data under PIM solutions, which is further propelling the North American market.

Browse the full “Product Information Management Market By Deployment Type (On-Premises and Cloud-Based), By Operating System (iOS, Windows, Android, and Others), and By Vertical (Retail, Manufacturing, Logistics, Energy, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027” Report at https://www.zionmarketresearch.com/report/product-information-management-market

Europe is the second leading regional market and is expected to show significant growth in the years to come. There has been a clear difference regarding the penetration rate of spending on software’s purchased based on the business department size in this region. The region’s e-commerce sector is gaining traction. Additionally, the introduction of new and advanced technologies is also propelling market growth.

The Asia Pacific product information management market is likely to register the highest CAGR. This can be attributed to the emergence of countries like China, Singapore, and India as preferred destinations for faster adoption of multi-domain product information management software, which offers better services in terms of performance, quality, and capacity. Additionally, the presence of a large number of medium- and small-sized businesses springing up is fueling the region’s economic growth along with increased investments witnessed in data management and cloud-based technologies, which is also driving this regional market.

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Latin American and the Middle Eastern and African regions are likely to grow moderately over the forecast time period. The growing use of PIM in retail and logistics, the introduction of advanced technologies, rising adoption of PIM in large enterprises and businesses, and growing awareness are some factors driving the growth of the product information management market in the Middle East and Africa. Additionally, the growing number of SME’s in Latin America, majorly in Brazil, Mexico, Colombia, and Peru, is boosting the Latin American market.

Some leading players operating in the global product information management market are the SAP, Informatica, Oracle, Riversand Technologies, Stibo Systems, Agility Multichannel, IBM Corporation, ADAM Software, InRiver, and Pimcore.

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This report segments the global product information management market into:

Global Product Information Management Market: Deployment Type Analysis

• On-Premises
• Cloud-Based

Global Product Information Management Market: Operating System Analysis

• iOS
• Windows
• Android
• Others

Global Product Information Management Market: Vertical Analysis

• Retail
• Manufacturing
• Logistics
• Energy
• Healthcare
• Others

Global Product Information Management Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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