Global Product Information Management Market

Product Information Management Market Size, Share, Growth Analysis, By Component, By Deployment Type, By Organization Size, By End User Industry, By Region - Industry Forecast 2025-2032

Report ID: SQMIG45B2170 | Region: Global | Published Date: December, 2024
Pages: 188 | Tables: 116 | Figures: 67

Product Information Management Market News

  • 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.
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FAQs

Global Product Information Management Market size was valued at USD 11.49 billion in 2022 and is poised to grow from USD 13.41 billion in 2023 to USD 46.13 billion by 2031, growing at a CAGR of 16.7% during the forecast period (2024-2031).

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. 'Informatica LLC ', 'SAP SE ', 'Salsify Inc. ', 'Syndigo LLC ', 'inRiver AB ', 'Stibo Systems ', 'IBM Corporation ', 'Oracle Corporation ', 'Akeneo ', 'Riversand Technologies, Inc. ', 'Pimcore GmbH ', 'Contentserv ', 'Winshuttle, LLC ', 'Vinculum Solutions Pvt. Ltd. ', 'Profisee Group, Inc. ', 'Agility Multichannel ', 'Censhare AG ', 'ADAM Software NV ', 'Mobius Knowledge Services ', 'Perfion A/S'

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.

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.

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.

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Global Product Information Management Market

Report ID: SQMIG45B2170

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