Product Information Management Market Trends

Growth Drivers

Growth of Data Generation at An Exponential Rate - PIM systems provide a centralized repository for all product-related data, allowing businesses to easily manage and access the data they need to provide a better customer experience. In 2020, there were about 115 zettabytes of data created. By 2025, there will be over 180 zettabytes of data generated. This includes product descriptions, images, and pricing information, as well as other related data. By having all product data in one place, businesses can provide customers with accurate and up-to-date information quickly and efficiently.
Continuously Growing Retail Sector -A total of 28 trillion dollars is expected to be spent on retail in 2023 worldwide. By providing a single platform for retailers and brands to manage their product inventory, PIM frameworks increase efficiency and reduce costs associated with managing product information. Additionally, PIM frameworks can optimize product postings for each sales channel, which further increases both efficiency and sales.
Increasing Demand for Product Data Analysis And Management - Product data is increasingly used by companies to understand customer needs, develop marketing campaigns, create complex attribute models, enhance operational efficiency, and develop multiple product hierarchies. This requires managing and analyzing product data, which drives the need for PIM solutions that automate this process.

Challenges

Risks associated with data security and privacy - As companies move more of their operations on cloud server, they are exposed to potential security and privacy breaches that could lead to significant financial and reputational losses. This has made companies more cautious about investing in product information management solutions.
Lack of awareness about the benefits of product information management solutions
Increasing competition from other software solutions, making it difficult for companies to differentiate their products

Product Information Management Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	11.5%
Base Year Market Size (2024)	USD 12.45 billion
Forecast Year Market Size (2037)	USD 51.83 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of product information management is estimated at USD 13.61 billion.

The product information management market size was over USD 12.45 billion in 2024 and is projected to cross USD 51.83 billion by the end of 2037, growing at more than 11.5% CAGR during the forecast period i.e., between 2025-2037. Growing demand for product information from customers, and the increasing adoption of digital technologies will boost the market growth.

Asia Pacific industry is set to register a share of about 27% by 2037, impelled by rising focus on digital transformation initiatives in the region.

The major players in the market include AkeneoInformatica LLCRiversand Technologies, Inc.SAP SESalsify Inc.PimcoreIBM CorporationAprimoMagnitude SoftwareInriver.

Product Information Management Market Trends