PIM Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to pim market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

PIM Market News

in PIM
  • Leading PIM solution vendor Akeneo secured $135 million in Series D funding in February 2024 from Summit Partners. The funds will be utilized towards developing AI-powered product experience solutions and global expansion, particularly in the U.S. and Asia. Akeneo also rolled out new capabilities for real-time collaboration and market- and language-based contextual enrichment of products.
  • Salsify, an American product experience management (PXM) firm, acquired Alkemics, a French digital supplier experience platform, during March 2024. This deal assists in cementing Salsify's position within Europe's retail supply chain through quicker onboarding of supplier content along with seamless product data exchange.
  • Open-source PIM solution provider headquartered in Austria, Pimcore launched Pimcore Enterprise Edition 2024 with augmented AI-driven data modeling, industry-leading DAM (Digital Asset Management) integrations, and workflow automation for big-box manufacturers and retailers. The launch anchors Pimcore in the enterprise space with greater usability and flexibility.
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FAQs

Global PIM Market size was valued at USD 12.3 billion in 2023 and is poised to grow from USD 14.53 billion in 2024 to USD 54.97 billion by 2032, growing at a CAGR of 18.1% during the forecast period (2025-2032).

Market leaders are concentrating on automation, decision-making based on facts, and platform-based innovation in order to compete in the PIM space. Main strategies include the integration of AI and machine learning for enrichment of data, content syndication, and tailored customer support. Cloud-native solutions are the priority based on scalability as well as quick go-live capability. Mergers and acquisitions, and strategic partnerships are also increasing with organizations seeking global long-term coverage and vertical-specialized capacity. 'Oracle (USA)', 'SAP (Germany)', 'IBM (USA)', 'Informatica (USA)', 'Pimcore (Austria)', 'Akeneo (France)', 'inriver (Sweden)', 'Winshuttle (USA)', 'Riversand (USA)', 'Salsify (USA)', 'Aprimo (USA)', 'Stibo Systems (Denmark)', 'Contentserv (Switzerland)', 'Mobius (India)', 'Perfion (Denmark)', 'Profisee (USA)', 'Censhare (Germany)', 'Vinculum (India)', 'Pimworks (USA)', 'TrueCommerce (USA)'

Increasing consumer knowledge of where products are originating, and also safety and sustainability concerns, have created enormous growth in demand for accurate, concise, and richer product information. Organizations are adopting PIM solutions to deliver an enhanced customer experience with richer product attributes such as certification, use instructions, composition, and environmental information. Food and personal care clean-labeling, for example, necessitates that brands utilize PIM solutions with safe and regulatory-approved content on store shelves and on webstores.

Short-Term: AI and automation implementation are transforming product data management within businesses. AI-powered PIM solutions are now the ones that are auto-generating the product content, validating them for errors, and customizing in real-time. These solutions not only reduce the touch of human intervention but also improve the accuracy and consistency of product listings across multiple digital channels—absolutely vital in online business and omnichannel retailing.

Why is North America Leading PIM Market in 2024?

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Global PIM Market
PIM Market

Report ID: SQMIG45F2202

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