North America Product Information Management (PIM) Market By Component (Solution and Services), By Deployment Type (On-premise and Cloud), By Organization size (Large Enterprises and Small & Medium-sized Enterprises), By End User (Consumer Goods & Retail, BFSI, Telecom & IT, Manufacturing, Transportation & logistics, Media & Entertainment and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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The North America Product Information Management (PIM) Market would witness market growth of 9.8% CAGR during the forecast period (2020-2026). The PIM systems help in getting quicker and easier access to the stored information and along with that, the strategic data storage approaches assist in maintaining the quality of data. The operational efficiency has increased due to indexing and linking which reduces the time needed to complete different processes of data storage. Moreover, PIM allows the demonstration of the products to accomplish client centricity and united customer view.
The PIM systems offer a centralized system for enhancing the efficiency of promotional activities. PIM helps in effectively managing all the distribution channels. The incorporation of big data and business intelligence applications with cloud storage is providing many growth opportunities to the market. Although, unawareness about PIM and the data security threats related to the stored data is estimated to restrict the growth of the market.
There are many platforms and procurement systems like online marketplaces, which are based on electronic catalogs. The product information systems help in including product description information in the form of content into a catalog management solution, in which the products are organized and classified for certain target markets. The banking, financial, and insurance sector among the several end-user segments of the PIM market, is expected to register a high growth rate over the forecast period.
The increasing demand for centralized data storage of information regarding products is boosting the demand for the Product Information Management system. The centralized data storage systems enable firms to store information about the products in a secured and organized manner. Updating the data sources in centralized data storage systems is easier and can be done with a single possibility, which further reduces the time and cost involved in the data management. Apart from that, the increasing threats in information security are also contributing to the rising need for compliance and verification process. The PIM systems offer secure access to all stored information in the centralized database because a user needs to fulfil the security credentials in order to get the access.
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated across Multi Domain and Single Domain. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on End User, the market is segmented into Consumer Goods & Retail, BFSI, Telecom & IT, Manufacturing, Transportation & logistics, Media & Entertainment and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Oracle Corporation, Informatica, LLC, Salsify, Inc., Syndigo, LLC, inRiver AB, Akeneo SAS, Plytix Limited, and Stibo Systems, Inc. (The Stibo Group)
Scope of the Study
Market Segments Covered in the Report:
- Multi Domain
- Single Domain
By Deployment Type
By Organization size
- Large Enterprises
- Small & Medium-sized Enterprises
By End User
- Consumer Goods & Retail
- Telecom & IT
- Transportation & logistics
- Media & Entertainment
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- SAP SE
- Oracle Corporation
- Informatica, LLC
- Salsify, Inc.
- Syndigo, LLC
- inRiver AB
- Akeneo SAS
- Plytix Limited
- Stibo Systems, Inc. (The Stibo Group)
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