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Product Information Management Market Trends

Report ID: GMI9098
Published Date: Apr 2024
Report Format: PDF

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Product Information Management Market Trends

PIM systems are progressively incorporating AI and machine learning technology to automate processes like attribute extraction, product suggestions, and data categorization. These technologies facilitate more individualized product offerings, better user experiences, and higher-quality data.

Cloud-based PIM solutions are growing in popularity because of their affordability, scalability, and flexibility. Cloud-based PIM solutions are becoming increasingly popular among businesses to lower IT infrastructure costs, simplify data management procedures, and provide remote access. PIM systems have adopted an API-first strategy, which enables a smooth connection with external platforms, third-party apps, and other enterprise systems. APIs facilitate improved data interchange and interoperability by allowing enterprises to take full advantage of the PIM system's features throughout their whole ecosystem.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of product information management reached USD 12.2 billion in 2023 and is set to witness 13% CAGR between 2024 and 2032, led by the growing demand for product centralization into a single repository.

The software segment is expected to hold over 76% revenue share by 2032, with maintaining product information becoming crucial as firms grow in reach and product offerings.

North America product information management industry generated USD 4 billion in revenue in 2023, attributed to technological developments, infrastructure expenditures, and changing customer preferences.

SAP, IBM, Oracle, Riversand, Stibo Systems, Akeneo, Contentserv, Inriver, Informatica, Pimcore, Xvise and Salsify.