The need for creating a central repository in a business to manage important information about products is boosting up demand for product information management software market. Product information management software is helpful in keeping the stakeholders and customers updated about any change in the product. Product information management software coordinates the change in product information across all channels of communication. This helps in keeping a consistent and up-to-date information across business’s entire ecosystem.  

Product Information Management Market: Drivers and Restraints

Rapid growth of e-commerce is one of the important drivers for product information management market. E-commerce industry has given rise to multichannel retailing, where different channels require different versions of product information. Here, product information management becomes the single source of information management which helps in maintaining and syndicating product information to different sales channels as per the requirements.

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One of the major challenges in product information management market is high initial investment. A product information management requires a significant amount of investment of the organization’s financial and human resources because of which there could be reduced ROI. Further, diversified regulations pertaining to data across the globe can also hider the market.

 A technological trend which has been noticed in the market is shifting of product information management to cloud in order to reduce infrastructure and operational cost. Movement to cloud also increases scalability. Companies such as Oracle and Informatica are providing cloud-based product information management software.

Global Product Information Management Market: Market Segmentation

Global Product Information Management Market can be divided into two segments, based on deployment type and end-users.

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Segmentation on basis of deployment type in Product Information Management market:

The segments in Product Information Management market by deployment type include:

• Cloud

• On-premises

Segmentation on basis of end-users for Product Information Management Market:

The major segments of Product Information Management market on basis of end-users include:

• BFSI

• Healthcare

• IT & Telecom

• Logistics

• Manufacturing

• Retail

• Others

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Global Product Information Management Competitive Landscape

Some of the prominent players in the Product Information Management market include IBM Corporation, Informatica, Oracle Corporation, Pimcore, Riversand Technologies, SAP AG and Stibo among others.