According to a new report, published by KBV research, The Global Catalog Management System Market size is expected to reach $7.9 billion by 2027, rising at a market growth of 12.4% CAGR during the forecast period.
The Solution segment is generating high revenue in the Global Catalog Management System Market by Component in 2020; thereby, achieving a market value of $4.9 billion by 2027. The growing need for catalogue management systems may be ascribed to the growing demands for these systems among businesses of all sizes, including SMEs and major corporations.
The Service Catalog segment has high growth rate of 13.8% during (2021 - 2027). The upsurge for post-purchase services of tangible products can be linked to the segment's rise. By providing extensive information about service catalogue applications (description, price, delivery, approvals, and delivery) and their application statuses, a service catalogue minimizes administration expenses, increases user self-service capabilities, and improves the user experience.
The Cloud segment acquired maximum revenue share in the Global Catalog Management System Market by Deployment Type in 2020; thereby, achieving a market value of $4.7 billion by 2027. Catalog management solutions deployed in the cloud offer flexibility and allow organizations to personalize services and products on a wide scale.
The Small & Medium Enterprises segment is showcasing a CAGR of 13.7% during (2021 - 2027). The expanding number of small and medium businesses in numerous nations throughout the world, including India, the United States, and China, is responsible for the segment's growth. Because of advantages such as decreased setup costs, SMEs prefer cloud-based catalogue management system solutions. In order to digitize their items, SMEs are turning to cloud-based catalogue management solutions.
The Retail & eCommerce segment is leading the Global Catalog Management System Market by Vertical in 2020, thereby, achieving a market value of $2.3 billion by 2027. The segment's expansion is expected to be fueled by the growing use of sophisticated services and technology as a result of the enormous amount of product data available. The segment's growth is likely to be aided by digital transformation activities implemented in retail and e-commerce to suit client needs.
The North America is fastest growing region in the Global Catalog Management System Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.7 billion by 2027. The Europe market is experiencing a CAGR of 11.6% during (2021 - 2027). Additionally, The Asia Pacific market would witness a CAGR of 14.2% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/catalog-management-system-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Proactis Holdings Limited (Café Bidco Limited), Coupa Software, Inc., IBM Corporation, SAP SE, Broadcom, Inc., Oracle Corporation, Fujitsu Limited, Salsify, Inc., ServiceNow, Inc., and Comarch SA.
By Component
By Type
By Deployment Type
By Organization Size
By Vertical
By Geography
Companies Profiled
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