Product Information Management Market Size & Share, Growth Forecasts 2035

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Product Information Management Market size is slated to cross USD 23 billion by 2035, witnessing around 11% CAGR from 2023 to 2035. In the year 2022, the industry size of lithium hydroxide was USD 10 Billion. Mobilephones and online shopping are creating lucrative opportunities for PIM solutions. To ensure accurate, up-to -date product information is available to customers, businesses need PIM solutions to manage large amounts of product data. Over 2.2 billion people were expected to purchase goods and services online in 2022, as eCommerce sales reached 20% of retail sales worldwide.

Companies are increasingly looking for solutions to store, manage, and distribute product information quickly and efficiently due to the need for accurate and up-to-date product information for marketing, sales, and customer service activities. Product information management solutions provide the necessary infrastructure to help companies meet these demands.

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Product Information Management Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~ 11%
Base Year Market Size (2022)	~ USD 10 Billion
Forecast Year Market Size (2035)	~ USD 23 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Product Information Management Sector: Growth Drivers and Challenges

Growth Drivers

Growth of Data Generation at An Exponential Rate - PIM systems provide a centralized repository for all product-related data, allowing businesses to easily manage and access the data they need to provide a better customer experience. In 2020, there were about 115 zettabytes of data created. By 2025, there will be over 180 zettabytes of data generated. This includes product descriptions, images, and pricing information, as well as other related data. By having all product data in one place, businesses can provide customers with accurate and up-to-date information quickly and efficiently.
Continuously Growing Retail Sector -A total of 28 trillion dollars is expected to be spent on retail in 2023 worldwide. By providing a single platform for retailers and brands to manage their product inventory, PIM frameworks increase efficiency and reduce costs associated with managing product information. Additionally, PIM frameworks can optimize product postings for each sales channel, which further increases both efficiency and sales.
Increasing Demand for Product Data Analysis And Management - Product data is increasingly used by companies to understand customer needs, develop marketing campaigns, create complex attribute models, enhance operational efficiency, and develop multiple product hierarchies. This requires managing and analyzing product data, which drives the need for PIM solutions that automate this process.

Challenges

Risks associated with data security and privacy - As companies move more of their operations on cloud server, they are exposed to potential security and privacy breaches that could lead to significant financial and reputational losses. This has made companies more cautious about investing in product information management solutions.
Lack of awareness about the benefits of product information management solutions
Increasing competition from other software solutions, making it difficult for companies to differentiate their products

Product Information Management Segmentation

Deployment (On-premise, Cloud)

An estimated 54% of the market is set to be captured by the on-premise segment by 2035. There is a growing demand for integrated customer experiences, a growing need for efficient product information management, and an increasing adoption of enterprise-wide solutions for product information management. The need to customize products and services is growing as customers become more informed and demanding. A business's ability to control data and processes is increased with on-premise solutions.

Enterprise Size (Large Enterprises, Small & Medium-Sized Enterprises)

Product information management market from the large enterprises segment is set to gain a significant share of about 53% in the year 2035 benefitting from the increasing trend of digital transformation across the world. Furthermore, enterprises are willing to invest more in PIM solutions due to the growing demand for better customer experience, faster time-to-market, and better operational efficiency. These solutions enable companies to manage their vast amount of product-related data in one central location and ensure that this data is accurate and up to date.

Our in-depth analysis of the market includes the following segments:

Offering	Software Services
Deployment	On-premise Cloud
Enterprise Size	Large Enterprises Small & Medium-Sized Enterprises
End User	BFSI Retail Manufacturing IT & Telecommunication Transportation & Logistics Media & Entertainment

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Global Product Information Management Industry Regional Synopsis

North America Market Forecast

In North America, the product information management market is predicted to grow by 35% by 2035. In the region, there are many well-established companies with highly developed IT infrastructures that invest heavily in PIM technologies. In the United States, private investment in computers & software is estimated to be worth USD 1270 billion. The region also has an increasing demand for digital products such as e-books, software, and web-based applications, and the need to manage product information across multiple channels, driving the demand for PIM solutions.

Asia Pacific Market Analysis

The Asia Pacific product information management sector to register a share of about 27% by 2035. The region continues to focus on digital transformation initiatives and is becoming more aware of the benefits of PMS. In 2022, 16% of Chinese companies made decisive investments in adopting and scaling digital technologies, indicating steady progress in digital transformation. A report predicts that digital transformation spending in India will amount to USD 84 billion by 2026. The increasing use of digital platforms in the region has necessitated the need to store and manage product information. PMS enables companies to easily organize, store, and access product data.

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Top Featured Companies Dominating the Global Product Information Management Market

Akeneo
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Informatica LLC
Riversand Technologies, Inc.
SAP SE
Salsify Inc.
Pimcore
IBM Corporation
Aprimo
Magnitude Software
Inriver

In The News

A new data importer, Pimcore X, was introduced by Pimcore. Several innovative technologies are implemented in Pimcore to enable clients' digital applications to access and update data to be managed in Pimcore with the assistance of many innovative technologies, such as REST or GraphQL.
New cloud-based product information management solution (PIM) SAP Product Content Hub has been announced by SAP SE. SAP Product Content Hub allows companies to integrate their product content across their different departments and channels, streamlining the process of creating, managing, and distributing product information.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the product information management market?

Ans: Growing demand for product information from customers, and the increasing adoption of digital technologies are the major factors driving the market growth.

2) What would be the CAGR of the product information management market over the forecast period?

Ans: The market size of product information management is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2023 â€“ 2035.

3) Who are the major players dominating the product information management market?

Ans: The major players in the market are Akeneo, Informatica LLC, Riversand Technologies, Inc., SAP SE, Salsify Inc., Pimcore, and others.

4) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

5) What are the segments in the product information management market?

Ans: The market is segmented by offering, deployment, enterprise size, end user, and by region.

6) Which segment captures the largest market size in the deployment segment in the product information management market?

Ans: The on-premise segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

7) What are the challenges affecting the market growth?

Ans: Increasing competition from other software solutions, makes it difficult for companies to differentiate their products.

8) Which region will provide more business opportunities for the growth of the product information management market in the future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.