Product Information Management (PIM) Market Witness the Growth of $16.0 billion by 2025

(IT-NEWSWIRE.COM, October 12, 2021 ) According to the new market research report global PIM Market size is expected to grow from USD 9.0 billion in 2020 to USD 16.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period. The major factors driving the growth of the PIM industry include exponential growth in the eCommerce industry and incorporation of advanced technologies in PIM solutions.

Major PIM vendors include Oracle (US), IBM (US), SAP (Germany), Informatica (US), Winshuttle (US), Stibo Systems (Denmark), Akeneo (France), Aprimo (US), Riversand (US), Contentserv (Switzerland), inRiver (Sweden), Magnitude Software (US), Salsify (US), Plytix (Denmark), Pimcore (Austria), Mobius (India), Perfion (Denmark), Profisee (US), censhare (Germany), Viamedici (Germany), TrueCommerce (US), Syndigo (US), PIMworks (US), and Vinculum (India). These market players have adopted various growth strategies, such as partnerships, agreements & collaborations, and new product enhancements to expand their presence in the PIM market. Product enhancements and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.

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SAP is one of the leading players in the PIM market. Currently, SAP is working toward enhancing its market share and presence with inorganic and organic growth strategies, such as partnerships, acquisition and product enhancements. For instance, in August 2019, SAP launched the SAP Product Content Hub PIM solution. It is a cloud-based PIM solution. Its capabilities include product data management, product data model management, users and workflows, and data feed management. This new product offers master product data for customer-facing systems, including the SAP Commerce Cloud Solution, and its user interface allows business users to effectively create and manage high quality product data across marketing channels.

Akeneo is a growing player in the PIM market. The company focuses on organic and inorganic growth strategies to improve its position in the PIM industry. For instance, in July 2019, Akeneo launched Akeneo Connector for Magento 2, an Akeneo PIM-powered extension that helps users export product information from Akeneo PIM to Magento eCommerce platform. Built on PIMGento 2 API developed by Agence Dn’D, the new extension is fully compatible with latest version of both Akeneo PIM Enterprise Edition and Magento 2.

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Product Information Management (PIM) Market Witness the Growth of $16.0 billion by 2025