Future Market Insights recently released a new research report titled "Product Information Management Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)" that includes a number of market statistics as well as an analysis of the current situation, historical data, and prospective market insights. Every aspect of the product information management market is examined through a thorough market segmentation, providing a comprehensive view of the market.

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Global Product Information Management Market: Segmental Snapshot

The global product information management market is segmented by component, by deployment, by industry, by enterprise type and by region.

• By component, the software segment is expected to dominate the global market in terms of market share and is estimated to reach a value of more than US$ 1 Bn by the end of the assessment year
• By deployment type, the on-premise segment is likely to lead the market with a higher market valuation. However, the software-as-a-service (SaaS) segment is projected to grow at the highest pace to register an exponential CAGR of 24.2% throughout the period of forecast
• By industry, the retail segment is poised to reach a value of about US$ 2,812.5 Mn by the end of 2027. This is the largest segment reflecting higher revenue generation during the assessment period. On the other hand, the transportation and logistics segment is expected to grow at a comparatively faster rate in the years to follow
• By enterprise type, the large enterprises segment is poised to reach a valuation higher than the small and medium enterprises segment thus dominating the market. The small and medium enterprises segment is anticipated to grow at a much faster rate to reflect a CAGR of 22.7% during the period of assessment, 2017-2027
• By region, North America is the largest regional market for product information management, presenting a high market attractiveness. The product information management market in North America is expected to reach US$ 3120.1 Mn by 2027 end

Regional Outlook on Industry Segments 

Key global regions are witnessing explosive growth in the product information management industry. The largest industry in North America is retail, which is followed by manufacturing, which is expected to surpass US$ 580 million by the conclusion of the evaluation year. The healthcare industry segment is anticipated to increase at the fastest rate in the Western Europe area during the projection period, followed by the manufacturing industry section.

In the years to come, the manufacturing sector is anticipated to be the biggest and most profitable in the Asia Pacific excluding Japan (APEJ) area. It is anticipated to increase at a rapid CAGR of 25.0% throughout the forecast period, reaching an estimated value of over US$ 675 Mn by the end of the assessment year.

Global Product Information Management Market: Future Projections

The global product information management market, which was estimated to be worth around US$ 1.8 Bn in 2017, is predicted to develop at a very high CAGR of 21.0% over the course of the forecast year, reaching a value above US$ 12 Bn by the conclusion of the assessment period.

Global Product Information Management Market: Growth Influencing Factors

In this research report, a number of factors driving the development of the worldwide product information management market are examined. A number of factors, including an increase in the number of products and the growing importance of reducing errors in product information, an increase in the demand for centralised data, an increase in the adoption of product information management solutions in the retail sector, the emergence of digital asset management, an increase in the requirements for data verification and authenticity, and an increase in consumer demand for advanced technology. Additionally, advantages like assistance with customer tracking and handling intricate product data are also boosting the growth of the global product information management market. However, a number of factors, including a lack of awareness, interoperability problems, high deployment running costs, lengthy implementation times, and difficulties integrating data, are creating barriers to the expansion of the global market's revenue.