Overview:
Production information management (PIM) is a software designed for multiple purpose like storing, standardizing, and managing of the delivery of product data to diverse channels and systems. The system is a centralized software and it is growing rapidly with high surge in the demand for centralized data centers across industries. The global production information management market is all set to acquire 25% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) in their latest report on the same discloses remarkable possibilities for this production information management market’s outstanding expansion.
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Several factors like improved data storage system, need for safe & secured access to data, strong security authorization, and others are expected to drive the production information management market forward. Its demand from several industries like BFSI, healthcare, government, retail, manufacturing, IT & telecommunication, healthcare, energy & utilities, transportation & logistics are expected to create strong market potential.
Segmentation:
The global production information management market is segmented into component, deployment, organization size and end-user. The component segment is further bifurcated into software and service. The software segment consists of single domain and multi-domain. The service segment comprises consulting and system integration, training and support and maintenance. The deployment segment is sub-segmented into cloud and on-premise. The organization size segment consists of small & medium enterprises and large enterprises. The vertical segment consists of BFSI, government, retail, healthcare, IT & telecommunications, manufacturing, energy & utilities, healthcare, transportation & logistics, and others.
Regional Analysis:
Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW) are regions that can be considered for a region-specific analysis of the global production information management market. This segmentation helps in the proper identification of the growth pockets.
North America delivers the maximum punch by accumulating the most amount of revenue for the global production information management market. This is happening in the region due to high integration of the digitalization which has given rise to the demand for centralized master data.
On the other hand, the APAC market is expected to achieve the fastest CAGR during the forecast period. Its growth in the e-commerce and retail industry is also quite substantial. Fast adoption of multi-domain PIM software to gain better performance, quality, and capacity during the forecast period is also expected to boost the regional market.
Key Players:
Some of the prominent players in the global production information management market are Oracle Corporation (U.S.), SAP AG (Germany), IBM Corporation (U.S.), Informatica (U.S.), Stibo Systems (Denmark), Riversand Technologies, Inc. (U.S.), Pimcore (Austria) are among others.
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