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(IT-NEWSWIRE.COM, May 05, 2018 ) Research Cosmos forecast the Product Information Management (PIM) market size to grow from USD 5.11 Billion in 2016 to USD 15.78 Billion by 2021 with a CAGR of 25.3%. Indispensable requirement to have centrally managed data and rising need for compliance and verification are the main drivers of the Product Information Management market.
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Presently, on-premise based deployment of PIM has the larger share than the cloud-based deployment of PIM, but the latter deployment model is expected to surpass during the forecast period due to high adoption rate of cloud technologies. The large enterprises, and Small and Medium Enterprises (SMEs) are showing high interest in the cloud-based PIM software due to its multiple advantages such as low operational expense, easy deployment, scalability, and easy collaboration. Moreover, due to the rise in upgraded technology workforce, major players aim at providing handy and easily accessible PIM software. The ongoing globalization of companies and the continuous rise in content among users have led them to enable the consolidation of content category wise through a single point provided through PIM software. Likewise, with the increasing complexity pertaining to maintaining and managing this master data, organizations are widely considering cloud-based deployments for implementing the central repository.
The consulting and system integration services segment is expected to have the largest market share and highest CAGR during the forecast period. The multi-domain PIM software’s are being increasingly adopted by companies and organizations in various industry verticals such as Banking, Financial Services, & Insurance (BFSI); retail; manufacturing; energy & utilities; healthcare; IT & telecommunication; government; and transportation & logistics among others. BFSI is expected to dominate the PIM industry market, contributing to the largest market share, during the forecast period.
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North America is expected to have the largest market share and would dominate the Product Information Management market from 2015 to 2020. Asia-pacific (APAC) offers potential growth opportunities, as companies in the APAC region are turning toward multi-domain PIM software providers to offer a high degree of services in terms of quality, performance, and capacity.
However, diversified government regulations and policies present across domestic and international borders are restraining the growth of the Product Information Management market. The key players in the PIM market are SAP AG, IBM Corporation, Microsoft Corporation, Oracle Corporation, Informatica, Riversand Technologies, Stibo Systems, Adam Software, Agility Multichannel, Inriver, Inc., and Pimcore among others. These major players also launched new products and offerings to strengthen their product portfolio and to expand their offerings to new clients. These players adopted various strategies, such as mergers & acquisitions, partnerships, collaborations, and business expansion to cater to the needs of the PIM market.
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About Us:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. We’re associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
Research Cosmos
Dani Rodriguez
+1 888 709 8757
dani@researchcosmos.com
Source: EmailWire.Com 
Source: EmailWire.com
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