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Product Information Management (PIM) Market worth $16.0 billion by 2025 - Exclusive Report by MarketsandMarkets Product Information Management (PIM) Market by Component (Solutions and Services), Solution (Multi-mode, and Single-mode), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025 , published by MarketsandMarkets, the Product Information Management Market is expected to grow from USD 9.0 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 12.2% during the forecast period. The major factors driving the growth of the PIM industry include rising demand for PIM solutions from the flourishing eCommerce industry and an increasing need to offering enhanced customer services.
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The large enterprise segment to hold the largest market size during the forecast period
The adoption of PIM solutions and services is higher in large enterprises, and the trend is expected to continue during the forecast period. PIM systems offer a single centralized system, to manage products information across the sectors. Hence, large enterprises heavily invest in advanced technologies to increase their overall productivity and efficiency. The demand for flexible, scalable, and convenient services by large enterprises is expected to encourage the market players to come up with newer technologies and innovative solutions.
Media and Entertainment to record the fastest growth rate during the forecast period