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Product Information Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

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Product Information Management Market: Overview 

Product information management (PIM) is a system which helps companies to store all vital technological and promotional information related to a software product. Using product information management, this data is stored and integrated securely. Global identification, coordination and networking of software product information is facilitated with the help of PIM. Creation and management of central database systems is also enabled due to PIM. Using PIM, extraction of data related to any product is possible without compromising on the compliance requirements and data quality. It also reduces the time-to-market for newly launched products. PIM streamlines the processes for generating, validating and broadcasting the customer-ready product content.

Product Information Management Market: Drivers

Rising demand for centralized data storage of information related to products is driving the PIM market. Centralized data storage is helping companies to easily manage and organize all the data related to its products. Data sources are updated with a single change in the centralized data storage, saving time and cost required for data management. Also, compliance and verification requirements are increasing due to the growing number of threats to information security. PIM provides safe and secure access to information stored in the centralized database. Access is granted only after completing verification of all the security credentials required.

PIM facilitates quick and easy access to the repository of information, at the same time strategic data storage techniques help in maintaining the data quality. Indexing and linking helps in reducing the time required to complete various processes related to data storage, increasing the operational efficiency. Marketing and sales of products are important processes to generate revenue. Furthermore, PIM enables manifestation of products to achieve client centricity and unified customer view. PIM provides a centralized system for improving the efficiency of promotional activities. All the distribution channels are managed effectively using PIM solutions. Integration of Big Data and business intelligence applications with cloud storage offers tremendous growth opportunities to the market. However, lack of awareness about the PIM is hampering growth of the market. Also, data security concerns are expected to restrain the market growth.

Product Information Management Market: Segmentation

The PIM market is segmented on the basis of service type, mode of deployment, software type and end-use industry. On the basis of service type the PIM market is segmented into consulting, system integration and training, support and maintenance services. Cloud based and on-premise are the two modes used to deploy PIM solutions. Multi-domain PIM and single-domain PIM software are available in the market.

Industries primarily using PIM solutions include retail, healthcare, energy and utilities, manufacturing, IT and telecom, banking, financial services and insurance (BFSI), transportation and logistics, media and entertainment and others. Moreover, on the basis of geography, the global PIM market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.

Product Information Management Market: Key Players

Major players in the PIM market include SAP AG, IBM Corporation, Oracle Corporation., Informatica LLC, Riversand Technologies, Inc., Stibo Systems, ADAM Software NV, Agility Multichannel Ltd., InRiverAB and Pimcore GmbH.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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