The global production information management market is a segmented as component, deployment, organization size, and end-user. The component segment is further bifurcated into software and service. The software segment consists of single domain and multi-domain. The service segment comprises consulting & system integration, training, support and maintenance. The deployment segment is sub-segmented into cloud and on-premise. The organization size segment consists of small & medium enterprises and large enterprises. The vertical segment consists of BFSI, government, retail, healthcare, IT & telecommunications, manufacturing, energy & utilities, healthcare, transportation & logistics and others.
Product information management is a process of gathering illustrative product information and saving it into a central management system, where the product data is managed and grouped. It is estimated that PIM market in the banking, finance & insurance (BFSI) industry is expected to witness high growth during the forecast period.
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Several companies are showing great growth in the global production information management market. These companies are SAP AG (Germany), Oracle Corporation (U.S.), Informatica (U.S.), IBM Corporation (U.S.), Riversand Technologies, Inc. (U.S.), Stibo Systems (Denmark), Pimcore (Austria) and others. MRFR has enlisted these companies for a better understanding of the market trend as their proper profiling would reveal the strategic moves undertaken by them and their purpose. These companies include merger, acquisition, collaboration, product launch, innovation, and other methods as their strategy. This also depends on the demographic changes.
The factors such as rising need for compliance and verification, demand for operational excellence and data quality are other significant factors fuelling the adoption of product information management software.
Production information management (PIM) is a software designed for multiple purpose like storing, standardizing, and managing of the delivery of product data to diverse channels and systems. The system is a centralized software and it is growing rapidly with high surge in the demand for centralized data centers across industries. The global production information management market is all set to acquire 25% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) in their latest report on the same discloses remarkable possibilities for this production information management market’s outstanding expansion.
Several factors like improved data storage system, need for safe & secured access to data, strong security authorization, and others are expected to drive the production information management market forward. Its demand from several industries like BFSI, healthcare, government, retail, manufacturing, IT & telecommunication, healthcare, energy & utilities, transportation & logistics are expected to create strong market potential.
The global production information management market, as per the discussion of MRFR, is segmented into component, deployment, organization size and end-user. This segmentation provides a closer look at the market and helps in the analysis of the coming year of the market.
Based on the component, the production information management market can be segmented into software and service. The software segment includes single domain and multi-domain. Growing diversity in various industries are propelling the inclusion of the multi-domain segment. The service segment can be segmented into training, consulting & system integration, support, and maintenance. The consulting & system integration segment is having remarkable growth.
Based on the deployment, the production information management market can be segmented into cloud and on-premise. The growing digitalization is expected to increase the intake of cloud technology in the coming years.
Based on the organization size, the production information management market can be segmented into small & medium enterprises (SMEs) and large enterprises. High installation cost at the initial stage prohibits SMEs from having its significant benefits. That is why growth is mostly reserved with the large enterprises.
Based on the vertical, the production information management market includes manufacturing, energy & utilities, BFSI, government, retail, healthcare, IT & telecommunication, transportation & logistics, healthcare, and others. The BFSI segment is achieving notably from the market.
Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW) are regions that can be considered for a region-specific analysis of the global production information management market. This segmentation helps in the proper identification of the growth pockets.
North America delivers the maximum punch by accumulating the most amount of revenue for the global production information management market. This is happening in the region due to high integration of the digitalization which has given rise to the demand for centralized master data.
On the other hand, the APAC market is expected to achieve the fastest CAGR during the forecast period. Its growth in the e-commerce and retail industry is also quite substantial. Fast adoption of multi-domain PIM software to gain better performance, quality, and capacity during the forecast period is also expected to boost the regional market.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
Continued. . .
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List of Table:
Table 1 Global Production Information Management Market: By Region, 2017-2023
Table 2 North America Production Information Management Market: By Country, 2017-2023
Table 3 Europe Production Information Management Market: By Country, 2017-2023
Table 4 Asia Pacific Production Information Management Market: By Country, 2017-2023
Table 5 Rest of The World Production Information Management Market: By Country, 2017-2023
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