Product Information Management Market To Reach $32.84 Billion By 2030

Product Information Management Market Growth & Trends

The global product information management market size is anticipated to reach USD 32.84 billion by 2030 and it is projected to grow at a CAGR of 16.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The globalization of markets drives the demand for product information management (PIM) solutions. As businesses grow into new regions and target international customers, they encounter diverse languages, currencies, and regulatory requirements. PIM solutions offer the flexibility to customize and localize product information for different markets while ensuring compliance with local regulations and maintaining consistency across channels, thus fueling market growth.

The accelerated shift to online shopping during lockdowns and social distancing measures increased demand for PIM solutions during the pandemic. With more businesses embracing e-commerce to reach customers and maintain sales, there was a growing need for robust PIM platforms to manage and distribute product information across digital channels. This surge in e-commerce activity drove the adoption of PIM solutions as businesses seek to enhance their online presence and deliver convincing product experiences to consumers.

The market trends include the increasing demand for enhanced integration and interoperability of PIM solutions with other business systems and technologies. As businesses seek to streamline their operations and improve efficiency, there is a growing demand for PIM platforms that integrate seamlessly with enterprise resource planning (ERP) systems, customer relationship management (CRM) software, e-commerce platforms, and other applications. Integrated PIM solutions enable businesses to synchronize product data across various systems, automate data workflows, and leverage data insights more effectively, driving productivity and competitiveness.

Moreover, the increasing importance of omnichannel commerce fuels the adoption of PIM solutions. With customers expecting a seamless shopping experience across multiple channels, including websites, mobile apps, social media platforms, and brick-and-mortar stores, businesses need to ensure consistency and coherence in product information across all touchpoints. PIM platforms enable enterprises to centralize and synchronize product data, facilitating seamless integration and coordination across different channels and delivering a cohesive omnichannel experience to their customers.

 Request a free sample copy or view report summary: Product Information Management Market Report

Product Information Management Market Report Highlights

• Based on components, the solution segment led the market with the largest revenue share of 56.8% in 2023 and is expected to grow at the fastest CAGR over the forecast period. The increasing need to deliver personalized customer experiences is driving the market growth of solutions in the global market

• Based on organization size, the large enterprises segment dominated the market in 2023 and is expected to grow at a significant CAGR over the forecast period. The emphasis on data quality and governance is fueling the market growth in large enterprises

• Based on deployment type, the on-premises segment accounted for the maximum revenue share in 2023. The need for unique integration and customization fuels the growth of on-premises product information management solutions

• Based on industry verticals, the retail industry accounted for the largest revenue share in 2023. The increasing complexity and diversity of products retailers offer necessitate the adoption of product information management solutions

• In February 2023, Pimply launched the Product Cloud, a salesforce-based product information management platform. The platform allows the partners, customers, employees, and prospects to become experts on product information. It solves the problem of data silos and delivers accurate product information to all company stakeholders

Product Information Management Market Segmentation

Grand View Research has segmented the global product information management market report based on component, organization size, deployment type, and industry vertical and region:

Product Information Management (PIM) Component Outlook (Revenue, USD Million, 2018 - 2030)

• Service

• Solution

Product Information Management (PIM) Organization Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises

• Small & Medium Enterprises (SMEs)

Product Information Management (PIM) Deployment Type Outlook (Revenue, USD Million, 2018 - 2030)

• On-premises

• Cloud

Product Information Management (PIM) Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI

• Retail

• Manufacturing

• Telecom & IT

• Media & Entertainment

• Others

Product Information Management (PIM) Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Italy

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Product Information Management (PIM) Market

• Oracle

• SAP

• IBM

• Informtica

• Pimcore

• Akeneo

• Winshuttle

• Riversand

• Salsify

• Aprimo