- January 2021 |
- Information and Communication Technology (ICT) / Other
Global Product Information Management (PIM) Market, By Component (Solution and Services); By Deployment Type (On-Premises and Cloud); By Region (North America, Europe, Asia Pacific, and Rest of the World); Trend Analysis, Competitive Market Share & Forecast, 2021-2027
Global Product Information Management (PIM) Market size- Industry Trends & Forecast Report 2027.
The global product information management (PIM) market worth USD 8.5 billion in 2020, and is further projected to reach USD 17.9 billion by 2027, growing at a CAGR of 11.2% during 2021-2027 (forecast period). The Product Information Management (PIM) market is likely to grow in the forecast timeframe due to the rising demand for PIM solutions from the flourishing e-commerce industry and the increasing need to offering enhanced customer services. Furthermore, rising digitalization, along with the growing demand for centralized data management tools across industries are the key factors driving the growth of the market.
Source: BlueWeave Consulting
GlobalProduct Information Management (PIM)Market Overview:
Product Information Management (PIM) is defined as a collection of systems that are particularly used for managing and centralizing product information. It is usually used by e-commerce organizations to maintain product catalogs with consistent and accurate information. This product information management system can be combined with catalog management along with the business process management and data quality to identify and sort problematic data and forward it to the desired distribution channels. It is also used in finds extensive applications across various industries, including banking, financial services, and insurance (BFSI), retail, manufacturing, healthcare, and IT & telecom.
Product Information Management (PIM) Market Forecast and Trends
Rising demand for PIM solution from flourishing eCommerce industry
The e-commerce industry has been booming at a tremendous pace across the globe, owing to the rising consumer demand for products, rising Internet access, and the rising penetration of smartphones. Online sales have also been raised to almost 18% every year. In countries such as Mexico, India, the Philippines, and China, the e-commerce industry is growing at a rate...