The market size of the global catalog management system is US $ 1.1 billion in 2021. The global catalog management system market is estimated to grow to US $ 2.6 billion by 2030 by registering a compound annual growth rate (CAGR) which is 10.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
- Catalog management services assist employers in managing and providing proper operation of product information. The growing deployment of ML and AI to improve the consumer experience will boost the growth of the global catalog management system market.
- The growing adoption of smartphones is expected to boost industry expansion as it enhances the use of mobile apps, social media, and online platforms.
- Customer satisfaction is one of the necessary goals of every business. Thus, it will contribute to the growth of the global catalog management system market.
- The widespread application of catalog management systems across healthcare, retail, and BFSI will propel the market forward.
- AI-enabled catalog management performs various operations, such as automatic product sorting, outlier detection, product marking, contextual suggestions, etc. Thus, the beneficial applications of the catalog management system will boost the growth of the worldwide market.
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, digital transformation has been intensified in various industries, such as healthcare, media, entertainment, telecom, e-commerce, retail, etc. Industries have considered the importance of digital technology, which is expected to benefit the catalog management system market even after the pandemic. These systems automatically perform various services, such as retrieving and uploading data, taking a quick snapshot of services and products, mapping data to meet customer needs, etc. . As a result, it has become useful for the global catalog management system market.
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Regional Analysis
North America is expected to dominate the global catalog management system market in terms of revenue. Market growth is attributed to the presence of significant manufacturers and companies in the region. Moreover, the increasing shift towards digitalized infrastructure in various industry verticals will contribute to the growth of the catalog management system market.
Europe is expected to hold the second largest share of the market after North America, due to the rising demand for sharing extensive and reliable product information. Moreover, the Asia-Pacific market for catalog management systems is estimated to record exponential growth. This is associated with rapid economic growth, digitalization, and growing use of cloud-based platforms in the region.
Market competitors
- Amdoc
- Broadcom
- Claritum
- Comarch SA
- Coupa Software Inc.
- Fujitsu
- GEP
- IBM
- Oracle
- Proactis Holdings Limited
- Salsify
- SAP
- Service Today
- Other Prominent Players
Market Segmentation
The market segmentation of the global catalog management system is focused on Type, Part, Deployment, Vertical, and Region.
By Type
By Component
- Solutions
- Services
- Managed services
- Professional service
By Deployment
By Vertical
- BFSI
- Retail and eCommerce
- Telecom
- IT
- Media and Entertainment
- Travel and Hospitality
- The others
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By Region
- North America
- The United States
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Other parts of Western Europe
- Eastern Europe
- Poland
- Russia
- Other parts of Eastern Europe
- Asia-Pacific
- China
- India
- Japanese
- Australia and New Zealand
- ASEAN
- Other parts of Asia Pacific
- Middle East and Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- The rest of the MEA
- South America
- Brazil
- Argentina
- Other parts of South America
What is the purpose of the report?
- The market report shows the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market dimensions.
- During the forecast period, the report evaluates the growth rate, market size, and market appreciation.
- The report presents current industry trends and the potential future of the North American, Asia Pacific, Europe, Latin America, and Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic coverage, market segmentation, and financial performance of major players.
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