Tokyo, May 27, 2022 (GLOBE NEWSWIRE) — The global product information management market size was accounted at US$ 12.88 billion in 2021. Product information management software is utilized to effectively manage all sales channels. The integration of big data analytics, cloud storage, and business intelligence offers the sector tremendous growth potential. The global product information management market’s growth is limited, however, by a lack of understanding about the technology. Growing data security concerns are expected to hamper the global product information management market’s growth throughout the projected period.
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In the global market, product information management systems and software are gaining traction. This is due to the increasing use of product information management in e-commerce platforms and the retail industry. Product information management is assisting offline retail establishments around the world in their growth and development.
Regional Snapshot
Asia-Pacific is the largest segment for product information management market in terms of region. China and India are dominating the product information management market in the Asia-Pacific region. The increased requirement for data storage is driving the expansion of the product information management market in the region. Several foreign corporations are expected to expand in Asia-Pacific due to the vast market potential. Furthermore, the Asia-Pacific product information management market is developing due to rising smartphone and internet usage.
North America region is the fastest growing region in the product information management market. The US holds the highest market share in the North America product information management market. The presence of prominent industry players is driving the product information management market in the region. Furthermore, technological advancements and the use of cutting edge and innovative technologies are driving the regional market growth.
Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 12.88 Billion |
