Latest News- Product Information Management Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Product Information Management Market is being driven by Thriving e-commerce industry is driving up demand for PIM solutions

The Product Information Management Market is expected to grow at a CAGR of 11.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 9601 million. In today's competitive business landscape, companies across industries such as healthcare, retail, and BFSI are investing in advanced technologies like artificial intelligence (AI) and machine learning (ML) to enhance their Product Information Management (PIM) systems. AI-driven PIM solutions offer numerous benefits, including automatic product classification, anomaly detection, data enrichment through reputable sources, product grading, and contextual suggestions. These features enable businesses to gain valuable insights into their product data, streamline processes, and improve consumer experience through AI-enabled chatbots. By automating data analysis and offering integrated data insights, AI-powered PIM solutions can lead to increased efficiency, enhanced consumer satisfaction, and ultimately, greater sales and profitability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud
• End-user
  • Large enterprises
  • SMEs
• Application
  • Product data publishing
  • Digital asset management
  • Data syndication
  • Data modelling
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Thriving e-commerce industry is driving up demand for PIM solutions
• Rising developments by companies
• Stringent government regulations to make cloud safer

However, the market also witnesses some limitations, which are as follows:

• Concerns about data security and privacy threats
• Rise in bandwidths and performance costs
• Complications of network latency in cloud

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Market Scope in Product Information Management Market Research Report

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Research Analysis Overview

The Product Information Management (PIM) market encompasses solutions that help businesses manage and improve product data quality through rules, implementation of PIM systems, localization, version control, collaboration tools, governance, automated updates, and data cleansing processes. Additionally, PIM systems offer data mapping techniques, business process automation, marketing and sales content integration, customer experience management, product data translation, technical documentation management, regulatory compliance management, multi-language support, data governance framework, product content lifecycle management, pricing data management, inventory data integration, image management systems, video management systems, data lineage tracking, data audit trails, and data lifecycle management.

Market Research Overview

The Product Information Management (PIM) market is a segment of the larger IT software industry, focusing on the development and implementation of solutions for effective product data management. This involves product data syndication, master data management, data governance policies, and data quality metrics. Technavio's market analysis encompasses companies offering PIM solutions, which contribute to the IT software market's combined revenue. These businesses provide software designed to streamline and enhance the management of product data across various channels and systems, ensuring data accuracy, consistency, and availability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/