According to the new market research report global PIM Market size is expected to grow from USD 9.0 billion in 2020 to USD 16.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period. The major factors driving the growth of the PIM industry include exponential growth in the eCommerce industry and incorporation of advanced technologies in PIM solutions.
Major PIM vendors include Oracle (US), IBM (US), SAP (Germany), Informatica (US), Winshuttle (US), Stibo Systems (Denmark), Akeneo (France), Aprimo (US), Riversand (US), Contentserv (Switzerland), inRiver (Sweden), Magnitude Software (US), Salsify (US), Plytix (Denmark), Pimcore (Austria), Mobius (India), Perfion (Denmark), Profisee (US), censhare (Germany), Viamedici (Germany), TrueCommerce (US), Syndigo (US), PIMworks (US), and Vinculum (India). These market players have adopted various growth strategies, such as partnerships, agreements & collaborations, and new product enhancements to expand their presence in the PIM market. Product enhancements and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
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SAP is one of the leading players in the PIM market. Currently, SAP is working toward enhancing its market share and presence with inorganic and organic growth strategies, such as partnerships, acquisition and product enhancements. For instance, in August 2019, SAP launched the SAP Product Content Hub PIM solution. It is a cloud-based PIM solution. Its capabilities include product data management, product data model management, users and workflows, and data feed management. This new product offers master product data for customer-facing systems, including the SAP Commerce Cloud Solution, and its user interface allows business users to effectively create and manage high quality product data across marketing channels.
Akeneo is a growing player in the PIM market. The company focuses on organic and inorganic growth strategies to improve its position in the PIM industry. For instance, in July 2019, Akeneo launched Akeneo Connector for Magento 2, an Akeneo PIM-powered extension that helps users export product information from Akeneo PIM to Magento eCommerce platform. Built on PIMGento 2 API developed by Agence Dn’D, the new extension is fully compatible with latest version of both Akeneo PIM Enterprise Edition and Magento 2.
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According to a new market research report "Product Information Management Market by Component (Solutions and Services), Deployment Type, Organization Size, Industry Vertical (Consumer Goods and Retail, Manufacturing, and Transportation and Logistics), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global PIM market size is expected to grow from USD 7.0 billion in 2019 to USD 11.4 billion by 2024, at a CAGR of 10.2% during the forecast period.Key factors driving the PIM market include the growing need to gain real-time visibility into data to reduce Time to Market (TTM) and growing need for eliminating data inconsistencies across multiple data silos.Browse and in-depth TOC on “Product Information Management Market” 114 - Tables26 - Figures 162 - Pages Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=661489Large enterprises segment to hold a larger market size during the forecast periodThe adoption of PIM solutions is high among large enterprises, due to distributed systems, extensive product portfolio, and economies of scale.
Data inconsistencies and poor data syndication may lead to the loss of customers.
These factors are responsible for the high adoption of PIM solutions among large enterprises.Media and entertainment industry vertical to grow at the highest CAGR during the forecast periodThe growing need for high-performance technologies to improve synchronization and publication of information about product attributes, such as media clips, sound recording, images, and text files, is responsible for the highest CAGR of the media and entertainment segment.
PIM solutions can manage both digital as well as non-digital information for better syndication to improve overall customer experience and customer satisfaction which is highly beneficial for enterprises across the media and entertainment industry vertical.Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=661489North America to account for the highest market share during the forecast periodNorth America has always been at the forefront of adopting advanced technologies and has depicted a high adoption of data management technologies.
With this, many companies in North America are increasingly adopting PIM solutions to achieve better collection, cleansing, and enrichment of product content for quickly informing customers and suppliers about new products and product changes.
The direct presence of many major PIM vendors in North America has further added to the high adoption of PIM solutions in North America.The global Product Information Management Market comprises major solution providers, such as IBM (US), SAP (Germany), Oracle (US), Informatica (US), Stibo Systems (Denmark), EnterWorks (US), Akeneo (France), Riversand (US), Contentserv (Switzerland), inRiver (Sweden), Magnitude Software (US), Salsify (US), Plytix (Denmark), Pimcore (Austria), Mobius (India), Catsy (US), Perfion (Denmark), Profisee (US), censhare (Germany), and Vinculum (India).
According to a research report "Product Information Management Market by Component (Solutions and Services), Deployment Type, Organization Size, Industry Vertical (Consumer Goods and Retail, Manufacturing, and Transportation and Logistics), and Region - Global Forecast to 2024", published by MarketsandMarkets, the global PIM market size is expected to grow from USD 7.0 billion in 2019 to USD 11.4 billion by 2024, at a CAGR of 10.2% during the forecast period.
Key factors driving the PIM market include the growing need to gain real-time visibility into data to reduce Time to Market (TTM) and growing need for eliminating data inconsistencies across multiple data silos.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=661489Browse 114 market data Tables and 26 Figures spread through 162 Pages and in-depth TOC on "Product Information Management Market - Global Forecast to 2024"Large enterprises segment to hold a larger market size during the forecast periodThe adoption of PIM solutions is high among large enterprises, due to distributed systems, extensive product portfolio, and economies of scale.
Data inconsistencies and poor data syndication may lead to the loss of customers.
These factors are responsible for the high adoption of PIM solutions among large enterprises.Media and entertainment industry vertical to grow at the highest CAGR during the forecast periodThe growing need for high-performance technologies to improve synchronization and publication of information about product attributes, such as media clips, sound recording, images, and text files, is responsible for the highest CAGR of the media and entertainment segment.
With this, many companies in North America are increasingly adopting PIM solutions to achieve better collection, cleansing, and enrichment of product content for quickly informing customers and suppliers about new products and product changes.
The study includes an in-depth competitive analysis of the key players in the PIM market, along with their company profiles, recent developments, and key market strategies.About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
