Catalog Management Market Scope
Catalog management, is a strategic process where products are maintained in organized way to ensure its configurability to buyers required format. It is a dynamic process that helps e-commerce to quickly broadcast their products, new price, and releasing of new items as well. The changing consumer preferences, a robust catalog management provides enterprises in presenting consistent information of their products to its customers and also aiming toward positive customer experience
According to AMA, the Global Catalog Management market is expected to see growth rate of 6.9% and may see market size of USD1205.2 Million by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Catalog Management market throughout the predicted period.
SAP SE (Germany), IBM (United States), Oracle (United States), Fujitsu (Japan), CA Technologies (United States), Proactis Holdings (United Kingdom), SellerCloud (United States), Comarch (Poland), Salsify (United States), Sigma Systems (Canada), Coupa Software (United States), eJeeva (United States), SunTec (India), Cellent (Germany) and Amdocs (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Ericsson (Sweden), Zycus (United States), Insite Software (United States), Plytix (Denmark), Vroozi (United States), Mirakl (France), Vinculum (India) and Claritum (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Catalog Management market , by Application (IT and Telecom, Retail and e-Commerce, BFSI, Media and Entertainment, Travel and Hospitality and Others) and Region with country level break-up.
On the basis of geography, the market of Catalog Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In June 2018, Proactis partnered with Halliburton to provide Halliburton with a cloud-based catalog management solution. The solution helped Halliburton reduce its purchase order cost by 75% and In April 2018, ServiceNow made an agreement to acquire Silicon Valley-based AI company, Parlo. The acquisition is aimed at enhancing the functionalities of the Now Platform
In June 2018, SAP launched its new suite of services, SAP C/4HANA. The company aims to disrupt the Customer Relationship Management (CRM) market space by introducing this suite. SAP Hybris, which offers catalog management, is a part of this suite.
- Advancements in areas of Machine Learning (ML), analytics, and Artificial Intelligence (AI)
- Increasing adoption of automation across various manufacturing industry verticals
- Surging digital transformation initiatives in the retail and eCommerce industry across the globe
- Increasing need of centralized systems for improved marketing and selling of products and services
- Rising adoption of catalog management systems by SMEs in both developed and developing economies
- Advancements in areas of Machine Learning, and Artificial Intelligence (AI)
- Security and privacy concerns
- Lack of awareness about catalog management systems and capabilities
- Absence of standardized catalog format among enterprises