Production Information Management Market Trends

Production Information Management Market Overview

Production Information Management Market size is projected to grow from USD 10.67 Billion in 2024 to USD 23.72 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.50% during the forecast period (2024 - 2032). Additionally, the market size for production information management (PIM) market was valued at USD 9.52 Billion in 2023.

Rising demand for PIM solutions from flourishing ecommerce industry and increasing need to offer enhanced customer services are the key market drivers enhancing the market growth.

Figure 1: Production Information Management Market Size, 2024-2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

 Production Information Management (PIM) Market Trends

Rising demand for PIM solutions from flourishing ecommerce industry is driving the market growth

The consumers have access to a plethora of information about products and services, and they expect accurate and detailed information about the products they want to buy. PIM solutions provide eCommerce companies with a centralized platform to manage and distribute product information across all channels, including websites, mobile applications, marketplaces, and social media platforms. With the increasing demand for eCommerce products and services, the PIM market is expected to grow significantly during the forecast period.

Thus, the rising demand for PIM solutions from the flourishing eCommerce industry is driving the growth of the PIM market by providing a centralized platform for managing and distributing product information across all channels, improving data quality, reducing time-to-market, increasing sales, and enhancing the customer experience. Due to the PIM software's expanding use in the retail and e-commerce sectors, it experienced significant growth. It is enabling innovative concepts, like Amazon Go, in utilizing customer data to construct their product and helping offline retailers expand online. PIM system use is increasing as a result of the growth of retail and e-commerce firms and the expanding volume of product data that must be maintained. According to India Brand Equity Foundation, in 2020, the Indian E-commerce market was valued USD 46.2 billion, and the market is anticipated to reach USD 188 billion by 2025.

However, Omnichannel syndication is the integration of all possible channels within a company, not the use of multiple channels at once. A growing trend in the industrial and retail sectors is seamless omnichannel syndication, which enables customers to contact with brands whenever and wherever it is most convenient for them. Organizations are choosing omnichannel syndication because omnichannel customers spend more on each transaction, produce more overall profit, and are worth more in the end than single-channel customers. Businesses are, however, being impacted by the lack of precise product information across numerous platforms. In order to guarantee that product information is accessible for omnichannel across all channels, PIM can work with product syndication platforms like Productsup. Additionally, it is expected to accelerate market expansion during the anticipated time.

Moreover, Companies from a variety of industries recognize the need for an appropriate solution that can simplify the storage and curation of product data. This is explained by the fact that businesses want to get a competitive edge in the ever-changing digital market. Companies are shifting towards investing in PIM as a result of the marketplace's rapid change and competitors' introduction of cutting-edge capabilities, which is fueling the expansion of the production information management (PIM) market revenue.

Production Information Management (PIM) Market Segment Insights

Production Information Management (PIM) Deployment Insights

The production information management (PIM) market segmentation, based on deployment includes Hardware, Software. In terms of market size, the software sector is anticipated to dominate product information management. This is attributed to the benefits of product information management systems, which include standardized the increasingly complex requirements for product content, serving as a multichannel marketing tool, tracking all catalogue and inventory data of a company in real time, increasing conversion rates, and coordinating images, videos, and product descriptions from all of the channels the brand uses.

Production Information Management (PIM) Deployment Insights

The production information management (PIM) market segmentation, based on deployment, includes Cloud, On-Premise. With the largest market share and the highest projected CAGR during the projection period, the cloud category is likely to grow fastest. A huge network of providers is managed by the cloud-based PIM software, which also requires to handle the volume of content for products that is always changing. It allows faster launch times, lower costs, and greater scalability for digital product information management. The PIM process becomes more expensive and complex when on-premise product information software is installed on one or more devices. As a result, the market share of on-premise software installation substantially fell.

Production Information Management (PIM) Vertical Insights

The production information management (PIM) market segmentation, based on Vertical, includes BFSI, Government, Retail. The retail sector held the largest market share for product information management due to the ization of the distribution and supply networks for the retail industry. Companies are using PIM software as a result to effectively supply product information across all distribution channels and boost sales.

Figure 2: Production Information Management (PIM) Market, by Vertical, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Production Information Management (PIM) Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American PIM market area will dominate this market, owing to an increase in e-commerce traffic, and growing adopting this solution in the retail & e-commerce industry helps enhanced e-commerce sales in countries such as the U.S. and Canada across North America. In addition, the growing number of establishing health clubs and fitness facilities will boost market growth in this region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: PRODUCTION INFORMATION MANAGEMENT MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe production information management (PIM) market accounts for the second-largest market share due growing government efforts to spur growth in the retail, e-commerce, and manufacturing sectors. Further, the German production information management (PIM) market held the largest market share, and the UK production information management (PIM) market was the fastest growing market in the European region

The Asia-Pacific Production Information Management (PIM) Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because more people are shopping online and more nations in the region are utilizing high-speed broadband and the internet. There is a high need for this software in the e-commerce sector because to the expanding presence of international e-commerce companies in India and China, including Amazon, Alibaba, Snapdeal, Flipkart, and many more. Moreover, China’s production information management (PIM) market held the largest market share, and the Indian production information management (PIM) market was the fastest growing market in the Asia-Pacific region.

Production Information Management (PIM) Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the production information management (PIM) market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, production information management (PIM) industry must offer cost-effective items.

Services and solution providers are investing in R&D is one of the key business tactics used by services provider in the production information management (PIM) industry to benefit clients and increase the market sector. In recent years, the production information management (PIM) industry has offered some of the most significant advantages. Major players in the production information management (PIM) market, including SAP (US), Oracle, IBM (US), Informatica (US) and others, are attempting to increase market demand by investing in research and development operations.

SAP SE provides enterprise software to manage business operations and customer relations. SAP's software products are used by more than 440,000 customers in over 180 countries, and the company has more than 103,000 employees worldwide. SAP's core product is SAP ERP (Enterprise Resource Planning) software, which helps businesses manage their day-to-day operations, including financials, human resources, procurement, supply chain, and customer service. SAP has expanded its offerings to include solutions for business intelligence, analytics, mobile applications, cloud computing, and database management.

In Oct. 2021, Enterprise leader in process management and business process intelligence, Signavio, was bought by SAP SE. Through venture capital funds, SAP also assists business owners who want to create market-leading companies. The company offers SAP.io Fund, which focuses on strategic early-stage investments in enterprise software entrepreneurs and commits to investing up to 40% of investable cash. It is currently managed by Sapphire Ventures.

Oracle Corporation is a multinational technology company headquartered in Redwood City, California, USA. Oracle has over 135,000 employees and operates in more than 175 countries. Oracle's flagship product is the Oracle Database, which is a relational database management system widely used in businesses of all sizes. The company also provides a range of enterprise software applications for managing business operations, including financial management, supply chain management, and human capital management. Additionally, Oracle offers a suite of cloud-based applications and services, including software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS).

For Instance, in June 2020, Version 12.1 of the Oracle Product Information Management Implementation Guide has been launched by Oracle Corporation to allow users to build and maintain item catalogues and report templates that specify the responsibilities of users and customers.

Key Companies in the production information management (PIM) market include

• 
  

  Oracle

  
  


• 
  

  IBM (US)

  
  


• 
  

  Informatica (US)

  
  


• 
  

  Akeneo (France)

  
  


• 
  

  Inriver (Sweden)

  
  


• 
  

  Winshuttle (USA)

  
  


• 
  

  Winshuttle (US)

  
  


• 
  

  Riversand (US)

  
  


• 
  

  SAP (US)

  
  


• 
  

  Stibo Systems (US)

  
  


• 
  

  Contentserv (Switzerland)

  
  


• 
  

  Mobius (India)

  
  


• 
  

  Perfium (Denmark)

  
  


• 
  

  Profishee (U.S.)

  
  


• 
  

  Censhare (USA)

  
  


• 
  

  Vinculum (US)

  
  


• 
  

  Truecommerce (US)

  
  


• 
  

  Vimedici (Germany)

  
  

Production Information Management (PIM) Industry Developments

Product Experience Management (PXM) platform Salsify launched Salsify PXM Advance, an upgrade of its PXM platform, in February 2024. This release brings improvements in artificial intelligence and automation, syndication and governance efficiency, as well as better content features for improved conversion rates. It also launched the Salsify PXM App Center, that acts as a central location for all PXM innovations from Salsify and partners around the world.

Image Relay, however, took a different approach when they introduced Marketing Delivery in April 2023. It is an all-in-one product information source and digital assets solution. The new cloud-based systems take up where DAM left off by integrating and expanding on product information management within one user interface. Organizations can now easily organize, connect, control, and communicate all their digital assets and product pieces of information at ease.

Propel Software put this strategy into practice in November 2022 when it decided to use its proprietary product information management (PIM) technology to solve some problems among its clients. On the other hand, what has been achieved is a solution that provides accurate customer-specific product information through every sales channel by connecting production with marketing teams using the same reliable database of goods. In addition to this gap filling capacity propels enables companies to capitalise on emerging market opportunities very quickly or any new product releases.

Akeneo announced its Akeneo App Store in March 2022, offering many categories like syndication, data enrichment and product catalog publishing as part of new features provided by the company’s latest release scheduled for spring 2022 release. The firm went ahead to enhance Akeneo PMX Studio and develop additional capabilities such as shared catalog improvements, more products ready-to-publish onboard, launch of its latest community edition.

One example occurred when Walmart declared its plan to deliver groceries online across approximately thirty million American households starting January 2022. Walmart’s expansion would see the hiring of more than three thousand delivery partners this year. This is expected to fuel the demand and growth of the PIM market in the retail sector.

Moreover, in July 2021, Pimcore released its advanced data importer, Pimcore X. It makes it possible for digital apps to access and update data in EDP through several innovative technologies like REST or GraphQL.

Production Information Management (PIM) Market Segmentation

Production Information Management (PIM) Component Outlook

• 
  

  Hardware

  
  


• 
  

  Software

  
  

Production Information Management (PIM) Deployment Outlook

• 
  

  Cloud

  
  


• 
  

  On-Premise

  
  

Production Information Management (PIM) Vertical Outlook

• 
  

  BFSI

  
  


• 
  

  Government

  
  


• 
  

  Retail

  
  

Production Information Management (PIM) Regional Outlook