The product information management market size is projected to reach US$ 35.71 billion by 2031 from US$ 12.79 billion in 2023. The market is expected to register a CAGR of 13.70% in 2023–2031. The increasing need for effective data management and enhancing the value of the customer's experience are likely to fuel the market growth.
The market for product information management has experienced notable growth in recent years, largely driven by the increased adoption of digital commerce and digital transformation in various industries. As e-commerce companies expand, the task of regularly updating a growing list of stock-keeping units (SKUs) is becoming more challenging. As new products are added, the list of prices, labels, and product descriptions has grown. Product data tends to become unmanageable rapidly. For instance, if a company aims to reach different demographics or explore new communication platforms, it typically needs to adjust its product messaging and pricing. When new suppliers join, they also refresh product catalogs and descriptions. Arranging product information by hand is a time-consuming and costly task. Not having a standardized system to manage data sharing among various teams leads to several difficulties, such as the potential of providing consumers with inaccurate or outdated information. Therefore, many e-commerce companies are embracing these tools in order to provide a smooth experience for both customers and employees.
Product information management solution is compatible with many e-commerce platforms, ERP software, and CRM systems, allowing for easy access to current product information within all departments of a company. Moreover, they are essential for e-commerce businesses that have constantly changing sales tactics, product offerings, and marketing communications.
Every day, several products are offered through e-commerce sites, and efficient product information management is critical to success. This solution has various features that are extremely beneficial to e-commerce websites. The key benefit of these solutions is the ability to centralize all product information into a single repository. Thus, details such as photos, product descriptions, pricing, and specs, among others, are saved in a single location. Furthermore, this solution ensures that information is consistent across all networks, including websites, social media platforms, and markets. Any updates or modifications made to the system are automatically mirrored, resulting in a more consistent brand image and better customer experience.
PIM solutions provide customers with constant access to detailed and relevant product information. As a result, the frequency of product returns and complaints has decreased. It also reduces the number of abandoned shopping carts. It enables the instant introduction of new products to customers. Customers can also view how much stock is available in case they wish to buy something. Business representatives can also improve their customer service by using the information they have access to. Customers can perform research before moving to the checkout section to complete the purchase of their desired goods.
Using reliable product information management software can help you save money on operational and supply chain expenses. Correct information decreases management risks and helps you avoid the costs that come with wrong product data. Companies can restore out-of-stock items before customers file a formal complaint. Aside from that, suppliers use PIM data to audit and optimize their delivery procedures.
Key segments that contributed to the derivation of the product information management market analysis are component, deployment, organization size, and vertical.
The geographic scope of the product information management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific is expected to experience the fastest growth rate over the projection period. The region is experiencing rapid population expansion, as well as increased Internet usage and digital commerce. Furthermore, rural areas in numerous developing countries are seeing increased penetration of network access and 5G. The region is undergoing a digital change, with numerous countries launching smart city initiatives. Such tendencies immediately promote Internet use and digital commerce in the region.
Furthermore, in populous nations such as India and China, a number of e-commerce firms are joining the retail sector to meet the growing demand for digital commerce. China is considered to have the world's largest e-commerce market, accounting for over half of all transactions. Domestic e-commerce platforms such as Alibaba's Taobao and Tmall, JD.com, Pinduoduo, Kaola, Xiaohongshu, Dianping, Suning, Gome, Yihaodian, Vipshop, Dangdang, Mogujie, and JuMei all contribute significantly to the sector's growth. Similarly, India has Flipkart, Amazon, Nykaa, Myntra, Ajio, and Lenskart. The region's thriving e-commerce sector is creating demand for a variety of product information management solutions.
The regional trends and factors influencing the Product Information Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Product Information Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 14.54 Billion |
| Market Size by 2031 | US$ 35.71 Billion |
| Global CAGR (2025 - 2031) | 13.70% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Product Information Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Product Information Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The product information management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: inriver, Press Release, 2023)
(Source: Pimly, Company Website, 2023)
The “Product Information Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: