Product Information Management (PIM) Market is expected to grow at a significant rate during the forecast period 2019-2025. Digital transformation across the globe has increased both the volume and speed of data generation and consumption many times over in a relatively small span of time. In this age of this rapid digital transformation, the organizations that are able to store and manage all the generated data efficiently and securely are expected to have a clear competitive advantage over other market players. PIM refers to a group of tools and processes that are utilized to store, manage, and deliver product data including descriptions, Stock Keeping Unit (SKU) numbers, pricing, images, and more to a variety of different channels.

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The growing demand for better customer service delivery across the globe is a major factor that contributes to the growth of the PIM market. PIM is being adopted in a variety of verticals ranging from retail to manufacturing, energy and utilities, healthcare, IT, telecommunication, government, transportation and logistics, and more to deliver better customer experience. The cloud-based PIM is more popular among organizations that prefer the ease of deployment and collaboration, affordability, and ability to scale. The support and maintenance service offered by the PIM platform facilitates organizations to meet different business needs as per the changing market conditions to reduce system failure and costs associated with it to improve overall business efficiency.

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The PIM supports omnichannel transactions which are the topmost requirements of retailers and manufacturers to remain competitive. The PIM platform integrates all the information related to the products and enables managers to constantly tweak the pricing, add new product descriptions, and to make numerous necessary updates to optimize the sales by offering better customer services. The PIM enables organizations to push content, data, product categories, product assets, and other information to the distributors and share updated product information with suppliers for better delivery of the products to the customer. PIM also enables organizations to build their brand image. PIM solutions with smart catalog features empower the organization’s brands to craft the information in a careful manner which they share with resellers and distributors, therefore, enabling organizations to correct and format the information every time.

Current Market trends covered in the Market Report

North America holds a significant market share.
Product Analytics, automation, and big data are the major technological trends.
Cloud-based PIM solutions to hold major market share.
Security concerns and lack of skilled professionals hindering the market growth.

Product Information Management (PIM) Market Segmentation

By Deployment Model

Cloud-Based
On-Premises

By Vertical

Healthcare
Retail
Banking, Financial Services and Insurance (BFSI)
IT & Telecom
Manufacturing
Others

Product Information Management (PIM) Market – Segment by Region

North America

United States
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Latin America
Middle-East Africa

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