Japan, Japan, Mar, 12 Apr 2022 02:51:56 / Comserve Inc. / – The size of the global catalog management system market is expected to grow from USD 846.6 million in 2018 to USD 1,190.0 million in 2023, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.
The indispensable requirement to have centrally managed product and service data will be a major driver of market growth. With constantly changing customer requirements, a robust catalog management system helps businesses in displaying consistent product information to its customers and aims to provide a positive customer experience.
Another factor driving the growth of the catalog management market is the increasing number of digital innovation initiatives in the vertical and eCommerce industry. However, existing data security concerns and lack of awareness about the functions and benefits associated with catalog management systems may hinder the growth of the catalog management system market.
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The solution segment to have a larger market size during the forecast period
The solution segment is estimated to have a larger market size in 2018. The solution to catalog management systems helps businesses save time and money when it comes to organizing and managing product information. The rising need to streamline sales processes will drive the adoption of catalog management solutions across industry verticals. However, the services segment will grow at a higher CAGR, as organizations are committed to reducing operating costs and providing a positive customer experience.
This type of cloud deployment will grow at a higher CAGR during the forecast period
In the catalog management systems market, the cloud deployment model will grow at a higher CAGR during the forecast period. Key factors include enhanced security features, interactive dashboards, ease of flexibility, and better scalability that can encourage businesses around the world to use cloud deployment. Moreover, the cloud-based deployment model offers higher agility than the on-premises deployment model.
Asia Pacific (APAC) was the fastest growing region during the forecast period
APAC is expected to be the fastest growing region in the global market of catalog management systems during the forecast period. Rapid economic development, globalization, digitalization, and the increased use of cloud-based technologies are expected to drive the market of catalog management systems in the APAC region. The growing need for cost optimization and effective use of IT infrastructures is expected to drive the demand for solutions in catalog management systems and its associated services.
In the process of defining and verifying the overall market size, several segments and subsegmentes were gathered through secondary research and extensive keynote interviews were conducted with key people.
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The breakdown of the profiles of the main participants is as follows:
• By Company: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Assignment: C-level-35%, Director level-25%, and Others-40%
• By Region: North America – 40%, Europe – 28%, APAC – 25%, RoW – 7%
Ang catalog management systems The ecosystem consists of service and solution providers, such as IBM (US), SAP SE (Germany), Oracle (US), CA Technologies (US), Coupa Software (US), ServiceNow (US), Proactis (UK), Fujitsu (Japan), Comarch (Poland), Zycus (US), GEP (US), Insite Software (US), Plytix (Denmark), Vroozi (US), Salsify (US), Mirakl (France), Ericsson (Sweden) , SellerCloud (US), Sigma Systems (Canada), Vinculum (India), Claritum (US), eJeeva (US), SunTec (India), cellent (Germany), and Amdocs (US).
Scope of Research
The report includes an in-depth competitive analysis of the major market players of catalog management systems, along with their company profiles, recent developments, and key market strategies. The research report segments the market of catalog management systems by segment, type of deployment, organizational size, industry vertical, and region.
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