Product Information Management Market: Overview
Product information management (PIM) is basically a system which helps many companies to store all crucial technological and promotional data associated with a software product. Utilization of product information management, this information is stored and incorporated strongly. Global identification, synchronization, and networking of software product information are assisted with the help of PIM. Making and management of fundamental database systems are also facilitated due to PIM. Using PIM, pulling out of data associated with any product is probable without negotiating on the conformity necessities and data eminence. It also decreases the time-to-market for recently launch products. PIM streamlines the developments for generating, certifying, and spreading the customer-ready product substance.
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Product Information Management Market: Growth Factors
PIM facilitates fast and easy access to the warehouse of information, at the same time strategic information storage methods help in maintaining the information quality. Linking and Indexing indexing helps in dropping the time necessary to complete a variety of processes connected to data storage, rising the operational effectiveness. Marketing and sales of different products are vital processes to produce revenue. In addition, PIM enables demonstration of products to attain consumer centricity and unified consumer view. PIM offers a centralized system for improving the effectiveness of endorsement activities. All the distribution channels are controlled efficiently using product information management PIM solutions. Incorporation of Big Data and business intelligence appliance with cloud storage offers marvelous development prospects to the market. On the other hand, lack of understanding about the product information management PIM is impeding the development of the market. Also, data safety concerns are anticipated to hold back the market development.
Product Information Management Market: Segmentation
The product information management PIM market is divided on the basis of mode of deployment, service type, end-use industry and software type. Based on service type, the product information management PIM market is classified into system integration and training, consulting, support and preservation services. Cloud Cloud-based and on-premise is are the two modes utilized to organize PIM solutions. Single-domain PIM software and Multimulti-domain PIM are accessible in the market. Industries chiefly using PIM solutions which consist of energy and utilities, media and entertainment, retail, manufacturing, healthcare, IT, and banking, financial services and insurance (BFSI), telecom, banking, transportation and logistics, and others.
Product Information Management Market: Regional Analysis
North America has been a tremendously open market for product information management PIM solutions. The crucial need to take full advantage of value from the central master and indication information followed by the continuing demands to achieve consequential insights from this merging master data has positively driven the master data acceptance in North America. In addition, this region has been exceptionally responsive towards accepting the latest technical advancements such as; incorporation of big data and BI tools in product information management solutions. APAC is anticipated to grow at the highest rate for the product information management PIM market in the coming years due to the growing requirement of observance and confirmation and indispensable requisite to have centrally managed information.
Product Information Management Market: Competitive players
The key players for the global Product product Information information Management management Market market are IBM Corporation, Informatica LLC, SAP AG, Riversand Technologies, Inc., Stibo Systems, Oracle Corporation., ADAM Software NV, Agility Multichannel Ltd., InRiverAB and Pimcore GmbH.