The global product information management (PIM) market size is expected to reach USD 36.12 billion by 2030, according to a new study by Polaris Market Research. The report “Product Information Management (PIM) Market Share, Size, Trends, Industry Analysis Report, By Deployment (On-premises and Cloud); By Organization Size; By Verticals; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising digitization and growing access to consumers for product information management through several sources, coupled with the massive increase in e-commerce sector, are major factors favoring the market growth. Moreover, high adoption of advanced PIM solutions across various industries such as retail, banking, healthcare, transportation, and financial services around the globe is further anticipated to propel the growth and demand for the global market over the coming years.
For instance, as per the report published by Flipkart and Bain., the total number of online shoppers in India is projected to grow to around 400 to 450 million by 2027. The Indian e-retail market is estimated to grow by around 25-30% annually over the coming years.
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Continuously rising investments in automation to enable quicker decisions, along with ever-rising competition and high business growth, around the globe to facilitate business operations, equipment, data management, and types of machinery is likely to have a positive impact on the global market at a healthy growth rate in the coming years.
In May 2022, Pimcore, a leading service provider in PIM solutions market introduced their new and more enhanced Pimcore 10.4 with high importance on consumer experience, API improvements, optimizations, and security. With the help of company’s new offering, organizations will be able to preview data or product information from any of their device like laptop, mobile, and tablets.
Product Information Management (PIM) Market Report Highlights
- On-premises segment held the largest market share in 2021 owing to high adoption among various industries, including banking, healthcare, retail, insurance, and life sciences.
- Large enterprises segment accounted for major revenue share due to the rising investment in research & development activities and heavy funding in novel technology.
- Retail sector is expected to hold a significant market share over the forecast period due to the rising prevalence of the e-commerce industry coupled with the enhancing customer experience and adoption of artificial intelligence.
- Asia Pacific region is expected to grow at a high CAGR during the projected period because of the increasing consumer awareness regarding the latest technology development and the rising popularity of online shopping in the region.
- The global PIM market is fairly fragmented owing to the presence of large market players with global presence including IBM Corporation, Oracle Corporation, Salsify Inc., Akeneo, Stibo Systems and others.
Polaris Market Research has segmented the product information management (PIM) market report based on deployment, organization size, verticals, and region:
Product Information Management (PIM), Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
Product Information Management (PIM), Organization Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Large Enterprise
- Small Enterprise
Product Information Management (PIM), Verticals Outlook (Revenue – USD Billion, 2018 – 2030)
- Banking and Financial Services
- IT & Telecom
- Transportation & Logistics
Product Information Management (PIM), Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa