Product Information Management Market: Overview
Product information management (PIM) is a system which helps
companies to store all vital technological and promotional information related
to a software product. Using product information management, this data is
stored and integrated securely. Global identification, coordination and
networking of software product information is facilitated with the help of PIM.
Creation and management of central database systems is also enabled due to PIM.
Using PIM, extraction of data related to any product is possible without
compromising on the compliance requirements and data quality. It also reduces
the time-to-market for newly launched products. PIM streamlines the processes
for generating, validating and broadcasting the customer-ready product content.
Product
Information Management Market: Drivers
Rising demand for centralized data storage of information
related to products is driving the PIM market. Centralized data storage is
helping companies to easily manage and organize all the data related to its
products. Data sources are updated with a single change in the centralized data
storage, saving time and cost required for data management. Also, compliance
and verification requirements are increasing due to the growing number of
threats to information security. PIM provides safe and secure access to
information stored in the centralized database. Access is granted only after
completing verification of all the security credentials required.
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PIM facilitates quick and easy access to the repository of
information, at the same time strategic data storage techniques help in
maintaining the data quality. Indexing and linking helps in reducing the time
required to complete various processes related to data storage, increasing the
operational efficiency. Marketing and sales of products are important processes
to generate revenue. Furthermore, PIM enables manifestation of products to achieve
client centricity and unified customer view. PIM provides a centralized system
for improving the efficiency of promotional activities. All the distribution
channels are managed effectively using PIM solutions. Integration of Big Data
and business intelligence applications with cloud storage offers tremendous
growth opportunities to the market. However, lack of awareness about the PIM is
hampering growth of the market. Also, data security concerns are expected to
restrain the market growth.
Product Information Management Market: Segmentation
The PIM market is segmented on the basis of service type,
mode of deployment, software type and end-use industry. On the basis of service
type the PIM market is segmented into consulting, system integration and
training, support and maintenance services. Cloud based and on-premise are the
two modes used to deploy PIM solutions. Multi-domain PIM and single-domain PIM
software are available in the market.
Industries primarily using PIM solutions include retail,
healthcare, energy and utilities, manufacturing, IT and telecom, banking,
financial services and insurance (BFSI), transportation and logistics, media
and entertainment and others. Moreover, on the basis of geography, the global
PIM market is segmented into Europe, North America, Asia Pacific, Latin
America, and the Middle East and Africa.
Product Information Management Market: Key Players
Major players in the PIM market include SAP AG, IBM
Corporation, Oracle Corporation., Informatica LLC, Riversand Technologies, Inc.,
Stibo Systems, ADAM Software NV, Agility Multichannel Ltd., InRiverAB and
Pimcore GmbH.
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The regional analysis covers:
- North
America (U.S. and Canada)
- Latin
America (Mexico, Brazil, Peru, Chile, and others)
- Western
Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium,
Netherlands, Luxembourg)
- Eastern
Europe (Poland, Russia)
- Asia
Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle
East and Africa (GCC, Southern Africa, North Africa)
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