PUNE, India, May 5, 2016 /PRNewswire/ --
According to a new market research report, "Product Information Management Market by Software (Single Domain, Multi-Domain), Service Type (Consulting and System Integration, Training, Support and Maintenance), Deployment, User Type, Industry, Region - Global Forecast to 2021, published by MarketsandMarkets, the global market is estimated to grow from USD 5.11 Billion in 2016 to USD 15.78 Billion by 2021, at an estimated CAGR of 25.3% from 2016 to 2021.
Browse 64 market data Tables and 53 Figures spread through 163 Pages and in-depth TOC on "Product Information Management Market"
Early buyers will receive 10% customization on this report.
The new business avenues include better customer relationship, reduction in IT infrastructure maintenance cost, improved time-to-market, and symbiotically analyzed business segments within the organizations present across the globe. The rising demand compliance and verification and need for operational excellence and data quality are driving the PIM Market.
The biggest challenge for PIM is the diversified governmental regulations and policies present across domestic and international borders, which continually are subjected to variation. The vendors in the PIM Market are continuously innovating and remodeling their present revenue model and technology to develop more proficient and advanced software.
Increase demands for cloud-based deployment of PIM solution
With the increasing complexity pertaining to maintaining and managing this data, organizations are widely considering cloud-based deployments for implementing the central repository for their master data. Since master data and its sub-set reference master data are extremely crucial for ensuring business continuity among organizations, the large enterprises and SMBs are deploying cloud-based PIM solutions chiefly for the flexibility and freedom in usage it offers.
With cloud-based PIM solutions, organizations can easily minimize their upfront costs, manage data quality, increase their Return on Investment (RoI), and elevate their customer base. Hence, large enterprises are gradually shifting to cloud-based PIM solutions.
Request for Sample @ http://www.marketsandmarkets.com/requestsample.asp?id=661489
The North American region is expected to dominate the Product Information Management market during the forecast period (2016-2021)
North America has been an extremely open market towards PIM solutions. The indispensable need to maximize value from the centralized master and reference data followed by the ongoing demands to gain meaningful insights from this consolidated master data has categorically driven the master data adoptions in North America. Furthermore, this region has been extremely responsive towards adopting the latest technological advancements such as integration of big data and BI tools within PIM solutions.
Some of the key players of the PIM Market are Oracle Corporation, SAP AG, IBM Corporation, Informatica, Stibo Systems, Riversand Technologies, Inc., and Pimcore among others.
Product Information Management Market has been segmented into following types. Software type of PIM includes single domain and multi-domain. Deployment models of PIM are segmented into cloud and on-premises. Service type of PIM includes consulting & system Integration and training, support, and maintenance. User types are segmented into Small and Medium Enterprises (SMEs), and large enterprises. Industries are further classified into Banking, Financial Services and Insurance (BFSI); media and entertainment; healthcare; it and telecommunication; retail; manufacturing; government; transportation and logistics and others. Furthermore, the report classifies the market according to the regions of North America, Europe, APAC, MEA, and Latin America.
Browse Related Reports:-
Master Data Management Market by Application (Customer Data, Product Data, Supplier Data, Site, Others), by Service Type (Consulting, Implementation, Training & Support), by Deployment, by User Type, by Industry, by Region - Global Forecast to 2020
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra -411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets