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Rising need for providing enhanced consumer experience and managing increasing volumes of product data are some key factors driving market revenue growth

VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ -- The global product information management market size is expected to reach USD 24.39 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for providing enhanced consumer experience. In addition, increasing pressure on distributors to provide more informative and functional B2B online customer experience that includes high-quality product information is expected to continue to drive adoption of product information management systems going ahead.

Product information management in business applications help to address challenges posed by proliferation of product information, increasing buyer demand, necessity of managing inventory levels, sales orders, and customer returns. With the help of product information management, distributors can ensure better accuracy of the information provided by their manufacturers and internal Enterprise Resource Planning (ERP) and inventory management systems. Rising need to manage increasing volumes of product data owing to steady growth in e-Commerce and retail businesses has resulted in rising adoption of product information management systems.

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Product Information Management market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years.

Some major players in the global market include

Oracle, SAP, IBM, Informatica, Winshuttle, Pimcore, Akeneo, Riversand Technologies, Inc., Salsify Inc., and Aprimo.

Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Product Information Management market

Sales revenue by key players and new entrants

Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight into recent trends and opportunities

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Emergen Research has segmented the global product information management market on the basis of offering, deployment, end-use, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)

Services

Solution

Deployment Outlook (Revenue, USD Billion; 2018–2028)

On-premise

Cloud

End-use Outlook (Revenue, USD Billion; 2018–2028)

Media & Entertainment

BFSI

Healthcare

Retail

IT and Telecommunication

Energy Utilities

Transportation and Logistics

Others

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Highlights from the Report

In June 2020, Winshuttle, which is the leader in data management and process automation software, announced a partnership with ABBY, which is the leader in Intelligent Document Processing. The partnership is expected to help enterprises transform their strategic processes to digital and deliver “Inbox to SAP.”

Services segment accounted for largest revenue share in 2020. Companies offering product information management systems are providing support, training, and maintenance services to assist in-house staff in understanding product information management systems, which is driving growth of the services segment.

Cloud segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing demand for a cloud-based solutions in information storage is expected to drive growth of the product information management market during the forecast period.

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