Product Information Management Market Size, Share, Growth Analysis, By Organization Size (Large Enterprises, Small & Medium Enterprises), By Deployment (On-Premises, Cloud), By Vertical (IT & Telecom, BFSI), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45B2154 |
Region:
Global |
Published Date: November, 2024
Pages:
188
|Tables:
0
|Figures:
0
Product Information Management Market Insights
Global Product Information Management Market size was valued at USD 11.5 Billion in 2022 and is poised to grow from USD 13.42 billion in 2023 to USD 39.56 billion by 2031, growing at a CAGR of 16.7% during the forecast period (2024-2031).
Rapidly expanding e-commerce industry and growing demand for products from the retail industry are projected to bolster product information management market growth over the coming years. Increasing emphasis on improving data quality and efficiency in multiple organizations to enhance business operations will also promote the demand for product information management in the future. Imposition of new product data standards and regulations necessitating the use of product information management and the increasing complexity of vast product portfolios of different companies are also expected to benefit product information management providers in the long run. Rising use of omnichannel marketing and growing demand for personalization of customer experiences are also expected to create new opportunities for market players going forward. On the contrary, lack of awareness regarding the benefits of product information management, complexity in integration with legacy systems, challenges in data migration, and data privacy and security concerns are expected to impede the overall product information management market development potential through 2031 and beyond.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Product Information Management Market Segmental Analysis
The global product information management market is segmented based on component, deployment, organization size, vertical, and region. In terms of component, the market is bifurcated into solutions and services. Based on deployment, the market is segmented into on-premises and cloud. Based on enterprise size, the market is segmented into small & medium enterprises and large enterprises. Based on vertical, the market is segmented into IT & telecom, BFSI, retail, manufacturing, media & entertainment, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Enterprise Size
Large enterprises are forecasted to account for a major chunk of the global product information management market share. High spending potential of large enterprises and presence of massive product portfolios in the same are expected to make this segment a leading one for all product information management providers. Increasing efforts of large enterprises to expand their product portfolio and the need for better product data management will also create new opportunities for product information management companies in this segment going forward. Rapid globalization of operations of large enterprises will also promote the adoption of product information management solutions and services via this segment going forward.
Meanwhile, the demand for product information management in small and medium enterprises (SMEs) is estimated to rise at a rapid CAGR across the forecast period and beyond. SMEs are realizing the importance of e-commerce and online sales channels for their businesses, which is expected to promote the adoption of product information management in this segment. Growing availability of cloud-based product information management solutions and increasing awareness regarding the benefits of product information management adoption are also expected to play a crucial role in promoting market growth for companies targeting SMEs. India and China are slated to be highly opportune markets owing to the presence of a strong start-up ecosystem in these countries.
Analysis by Deployment
On-premises product information management solutions are projected to bring in the most revenue for all market players. Better control and customization scope offered by on-premises product information management solutions and services are key factors aiding the dominance of this segment in the product information management market forecast. Easy integration and better control over data privacy and security are other benefits that are expected to help this segment bring in more business for market players going forward.
Meanwhile, the demand for cloud-based is projected to increase at a rapid pace in the future. Advancements in cloud technologies and growing acceptance of the same are helping this segment offer new opportunities for product information management companies. Better flexibility, easy access, low costs, and high scalability of cloud-based product information management solutions are projected to generate new business scope for all companies going forward. Small and medium enterprises are projected to lead the adoption of cloud-based product information management as they are more affordable as compared to on-premise counterparts.
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Product Information Management Market Regional Insights
North America is estimated to account for a substantial share of the global product information management market. The presence of a strong retail infrastructure and presence of key e-commerce companies in this region allows it to lead global product information management demand outlook. Quick adoption of advanced technologies and imposition of strict regulations for product data management are also expected to bolster the dominance of this region. Canada and the United States are forecasted to emerge as the key revenue generating companies in North America through 2031 and beyond. Use of omnichannel retail and marketing by organizations in this region will also boost the demand for product information management going forward.
Growing digitization in Asia Pacific is expected to make it the fastest-growing market for product information management companies in the world. The boom in e-commerce activity and increasing emphasis on improving user experience are projected to create new opportunities for product information management companies in the future. Rising demand for personalized customer experiences to keep up with evolving consumer preferences in this region will also generate new opportunities for product information management providers through 2031. India, China, and Japan are slated to emerge as highly rewarding markets in the Asia Pacific region in the long run. Increasing frequency of product launches will also boost the adoption of product information management in the future.
- Largest
- Fastest
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Product Information Management Market Dynamics
Drivers
Increasing Complexity of Product Portfolios
- Expansion of product portfolios is a common trend across multiple organizations, and this has led to the creation of highly complex product portfolios. Managing this complexity manually can lead to errors and delays, impacting operational efficiency and customer satisfaction, which is why product information management solutions are used to manage and keep track of these complex product portfolios.
Boom in e-Commerce and Retail Activity
- Growing disposable income of people around the world and increasing purchasing power have significantly boosted e-commerce and retail industries. These industries require product information management systems to effectively manage product information across multiple platforms. Ensuring consistent product information across multiple channels can be achieved through product information management and this is why e-commerce and retail companies will boost product information management market outlook in the future.
Restraints
Complexity in Integration with Legacy Systems
- Integrating product information management solutions with legacy systems and infrastructure is a challenging task as legacy systems often lack the flexibility and connectivity needed to integrate with modern technologies. This results in the demand for specialized integration services that add up to the costs of implementation and slow down adoption.
Lack of Awareness
- Many companies are still unaware of the benefits of product information management solutions and most consider product information management as an optional solution instead of an essential one. This lack of awareness coupled with misconceptions regarding the complexity and use of product information management solutions are projected to impede product information management industry development in the future.
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Product Information Management Market Competitive Landscape
Product information management providers should focus on developing solutions that can easily be integrated with legacy infrastructure and systems. Product information management companies should target retail and e-commerce organizations to maximize their business scope in the long run. Investing in countries with developed technological and retail infrastructure will offer lucrative returns for product information management providers over the coming years.
Top Player’s Company Profiles
- Oracle
- SAP
- IBM
- Informtica
- Pimcore
- Akeneo
- Winshuttle
- Riversand
- Salsify
- Aprimo
Recent Developments
- In August 2024, GroupBy Inc., a leading product discovery technology company announced the launch of a new data enrichment platform to change the product information management industry. Enrich AI utilizes generative AI and coupled with GroupBy’s expertise in the retail industry to provide advanced data attribution and enhance shopping experience with this product data.
- In September 2024, bimstore, a renowned company known for its BIM expertise announced the launch of a novel product information management platform for manufacturers. Sinc leverages bimstore’s expertise on product data through 15 years of collaboration with manufacturers to enhance product data management and utilization to solve challenges in the industry.
- In February 2021, The Independent Welding Distributors Cooperative (IWDC) announced the launch of its new product information management system. The new solution will provide companies associated with the IWDC with enriched product content to keep up with the evolving digital needs as digital transformation picks up pace globally.
Product Information Management Key Market Trends
- Use of Artificial Intelligence & Machine Learning: Product information management companies should focus on integrating artificial intelligence and machine learning technologies to maximize their business scope in the future. Use of these technologies with product information management solutions can help enhance data quality, automate categorization, and improve product recommendations for organizations in the future.
- Emphasis on B2B Use: Product information management companies have been primarily targeting B2C (business to consumer) organizations but now they can focus on business to business (B2B) organizations to enhance revenue generation. Development of product information management solutions designed for B2B usage will be a major product information management market trend for new as well as established companies around the world.
Product Information Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing complexity of product portfolios and rapid expansion of e-commerce and online retail activity are forecasted to drive up the demand for product information management around the world. However, lack of awareness regarding benefits of product information management and complexity in integration are forecasted to slow down the overall product information management industry in the long run. Cloud-based product information management solutions are projected to gain massive popularity among small and medium enterprises in the future. North America is forecasted to hold sway over global product information management demand outlook owing to the presence of e-commerce companies and strong retail infrastructure. Development of custom product information management solutions for B2B use and integration of artificial intelligence are slated to present new opportunities for companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.5 Billion |
| Market size value in 2031 | USD 39.56 billion |
| Growth Rate | 16.7% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Product Information Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Product Information Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Product Information Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Product Information Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Product Information Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Product Information Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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