Production Information Management Market is expected to be valued around US$ 23.72 billion by 2032 | MRFR
Research Reports
Sep 29, 2023
Production Information Management (PIM) Market Overview
The global production information management market size is expected to grow from USD 8.5 billion in 2022 to USD 23.72 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.08% during the forecast period. The market growth is driven by the need for centralized data, the growing demand for PIM solutions in the retail and manufacturing sectors, and the emergence of cloud-based PIM solutions.
Production information management software centralizes product data and enables manufacturers to organize, enrich, manage, and share product information seamlessly across business processes and systems. PIM ensures consistent, accurate, and timely product data across online and offline sales and marketing channels.
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Production Information Management Market Key Companies:
The key players in the PIM market include
- SAP
- Oracle
- IBM
- Informatica
- Pimcore
- Akeneo
- inRiver
- Stibo Systems
- Riversand
- Salsify
- Censhare
- OpusCapita
- Plytix
- SalesLayer
- Propel
- EnterWorks
- Agility Multichannel
- Syndigo
These vendors offer PIM solutions to help businesses improve the quality of product data, achieve real-time data synchronization, and enable omnichannel sales experiences. They are adopting technologies like AI and ML to deliver more intelligent PIM capabilities.
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Production Information Management Market Segmentation:
By component, the production information management market is segmented into solutions and services. The solution segment is further categorized into single-domain and multi-domain PIM solutions. The services segment is divided into consulting, implementation, training support, and maintenance services.
Based on deployment mode, the market is bifurcated into on-premises and cloud-based PIM solutions.
On the basis of organization size, the market is segmented into large enterprises and small & medium enterprises (SMEs).
The key end-user industries are retail, manufacturing, logistics, energy, and healthcare. The retail segment accounts for the largest market share.
The key regions covered are North America, Asia Pacific, Europe, MEA, and Latin America.
Detailed Regional Analysis:
The regional review of the production information management market is segmented into regions such as North America, Europe, Asia Pacific, and other important regional markets. The regional market in North America is credited for the uppermost segment in the global market. The growing industry demand to develop value from the central principal data and advance meaningful visions from this combined master data enhances the production information management market development in the region. The Asia Pacific market is projected to be the fastest mounting region due to the rising progress in the e-commerce and retail industry.
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Latest Industry News:
- In January 2022, Akeneo acquired Rhoikos to expand its PIM solutions for B2B enterprises. This strengthens Akeneo’s focus on delivering an improved B2B customer experience.
- In September 2021, Salsify acquired Cincom CPQ to integrate CPQ capabilities into its PIM platform and enable seamless commerce experiences.
- In June 2021, Syndigo announced the launch of its new SaaS-based PIM solution to offer improved product content management and syndication capabilities.
- In May 2021, Riversand raised USD 50 million in a funding round led by CVC Capital Partners to drive enrichment capabilities of its PIM platform.
The PIM market is expected to witness significant growth as brands increasingly invest in improving product experiences across touchpoints. The demand for cloud-based and AI-enabled PIM solutions is likely to increase in the coming years. Market players are focusing on enhancing PIM capabilities through organic and inorganic strategies.
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