Global Product Information Management (PIM) Software Market Overview:
Product information management software is a tool or set of tools that helps e-commerce retailers produce and manage product content required for various digital channels. PIM software is a specific type of information management system used to track business product details and data. It is a one-stop shop for product information such as technical data, usage specifications, product stories, media files and cataloging details. The growing demand for advanced analytics and artificial intelligence in PIM software presents lucrative opportunities in the market. Furthermore, the increasing number of SMEs/E-commerce across the globe is one of the driving factors for the global product information management software market.
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Increasing Adoption of Cloud-Based PIM Software
Market Growth Drivers:
Increasing Number of Small and Medium Enterprises / E-Commerce across the Globe and Rising Demand for efficient Product Information Management
Rising Concerns about Data Security and Thefts
High Cost Associated with Implementation of PIM Software
Rising Demand for Advanced Analytical and Artificial Intelligence in PIM Software
Product information management (PIM) software market is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Some of the key players profiled in the report are Akeneo (France), Pimcore (Austria), Inriver AB (Sweden), Syndigo LLC (United States), Acquia, Inc. (United States), Informatica Inc. (United States), Bluestone PIM (United States), Oracle (United States), Stibo Systems (Denmark) and Censhare (Germany). Considering Market by , the sub-segment i.e. will boost the Product Information Management (PIM) Software market.
Latest Market Insights:
In February 2022, Akeneo, a global leader in product experience management (PXM), offered a 14-day free trial of its flagship solution, Akeneo PIM. This initiative allows both potential buyers looking for a best-in-class product information management (PIM) solution and existing users of Akeneo's open source Community Edition to experience the features available in the Growth Edition and preview the Enterprise Edition for free. And you don't even need to contact a salesperson first.
In February 2022, Syndigo, a leading provider of SaaS master data management (MDM) and product information management (PIM) solutions, announced a new strategic partnership with Ariser, a leading implementer of enterprise PIM, MDM, and ERP solutions. This partnership helped Ariser customers enhance their enterprise data management capabilities with technology solutions that lead to business growth.
What Can be Explored with the Product Information Management (PIM) Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Product Information Management (PIM) Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Product Information Management (PIM) Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Product Information Management (PIM) Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Product Information Management (PIM) Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Product information management (PIM) software Companies, Potential Investors, Government Institutes, Regulatory Authorities, Research and Development Institutes, Market Research & Consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.