Product Information Management Market

IBM (US) and Informatica (US) are leading players in Product Information Management Market

The global Product Information Management (PIM) market size is expected to grow from USD 7.0 billion in 2019 to USD 11.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. Factors driving the market growth are the growing need to gain real-time visibility into data to reduce Time to Market (TTM) and increasing need for eliminating data inconsistencies across multiple data silos.

The PIM market comprises major solution providers, such as IBM (US), SAP (Germany), Oracle (US), Informatica (US), Stibo Systems (Denmark), EnterWorks (US), Akeneo (France), Riversand (US), Contentserv (Switzerland), inRiver (Sweden), Magnitude Software (US), Salsify (US), Plytix (Denmark), Pimcore (Austria), Mobius (India), Catsy (US), Perfion (Denmark), Profisee (US), censhare (Germany), and Vinculum (India). The study includes an in-depth competitive analysis of the key players in the PIM market, along with their company profiles, recent developments, and key market strategies.

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The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, and partnerships and collaborations have been the most dominating strategies adopted by the major players from 2018 to 2019, which helped them strengthen their offerings and increase their customer base.

Informatica (US) has a strong foothold in the PIM market due to its robust offerings. The company adopted various organic growth strategies and continues to enhance its expertise in the market. For instance, in December 2019, Informatica enhanced its Intelligent Data platform with new updates that include five AI-powered advances: 1) improved data cataloging, 2) improved data governance and privacy capabilities, such as automation and data categorization, 3) expanded integration and data management with advanced functionalities, and data quality support, spark data processing, and data ingestion, 4) advanced analytics, and 5) improved Customer Data Platform (CDP). These updates are expected to enhance Informatica’s solutions across its data management solution portfolio.

IBM (US) is among the leaders in the PIM market, with prominent geographic presence, robust partners, and strong offerings. The company has alliances with many leading companies and adopted various organic growth strategies to maintain a strong foothold in the PIM market. For instance, in June 2019, IBM launched InfoSphere Advanced Data Preparation, a new data preparation solution, which uses ML and predictive models to format, structure, and enrich datasets for analytic processing and standard reporting. The solution features a visualization dashboard to display data preparation processes and progress of tracking data quality and lineage. The dashboard helps users improve their data operation processes.

Related Reports:

Product Information Management Market by Component (Solutions and Services), Deployment Type, Organization Size, Industry Vertical (Consumer Goods and Retail, Manufacturing, and Transportation and Logistics), and Region - Global Forecast to 2024

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Report Code
TC 4280
RI Published ON
2/13/2020
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