PIM Market

Product Information Management

The Group of Analysts (TGOA) estimates that the global market for product information management will grow to $63.8 billion by 2030, representing a compound annual growth rate of 21.09 percent. This figure includes both PIM software products and services and reflects the growing importance of correct product data for companies in all industries and countries.

In their recent study of the PIM market, analysts from The Group of Analysts (TGOA) identify five key drivers for the enormous growth of the PIM market:

1. E-Commerce is playing an increasingly important role for companies in a wide range of industries – and so is the product data that needs to be fed out to stores, websites or retailer portals.
2. The role of data for decision-making in companies is becoming increasingly important. Data & analytics tools are in demand like never before, and here, too, the rule is: no comprehensive insights without product data.
3. Growing cost and competitive pressures are forcing organizations to increase their own efficiency and thus conserve resources. PIM systems offer a great deal of potential for increasing efficiency thanks to automation and collaboration functions.
4. The topic of sustainability is becoming increasingly important and is now also being driven forward by legislators. For companies, this means that they must manage and provide sustainability information transparently.
5. Finally, thanks to the continuous expansion of SaaS offerings, the implementation hurdles of PIM systems are also falling. The days when PIM projects cost a lot of time and effort are definitely over.
   

The provider market – anything but clear

PIM vendors differ not only in size and global coverage. There are also different approaches in terms of technology: 11 of the 40 providers focus exclusively on the management of data in the PIM/MDM context, and again 11 listed providers cover (almost) the entire product content life cycle as platform solutions. The remaining 18 providers – including apollon – have a specific focus on product content and thus on data in the area of PIM/MDM and DAM.

3 reasons for OMN from apollon

With our product content management solution OMN, we support numerous companies in the implementation of convincing product experiences on all their channels as well as in the efficient management of product data and media content. Innovative technologies such as numerous AI components for a wide range of tasks optimize internal workflows and increase not only the quality of output but also user satisfaction.

With its Market Performance Wheel (MPW), The Group of Analysts (TGOA) examines software vendors based on four strategic areas: Ability to perform, Market performance, Future viability and Technology. With an extremely high rating of 18, 18, 19 as well as 19 out of 25 maximum achievable points each, apollon convinces in its PIM evaluation of Online Media Net – especially in the following three focal points:

1. Customer Performance
   
   With 22 out of 25 points, apollon achieved a very good result in the area of customer performance. With customer performance, the MPW specifically measures the breadth and depth of a software vendor’s current customer base.
   
   Particularly for industries such as retail, mail order or the automotive industry, there are sometimes very specific requirements that must be taken into account when creating, managing and maintaining product data. Here it is advisable to rely on a manufacturer that already has a lot of experience in these industries.
   
   
2. Customer Experience
   
   Industry expertise is one thing – customer satisfaction is, of course, another key factor. Here, the regular exchange between the manufacturer and the customer company plays a particularly important role.
   
   For us, a strong customer relationship is very important, as OMN’s roadmap depends to a large extent on feedback and emerging requirements from the market. In this way, we can ensure that we continue to develop OMN with our finger on the pulse of the times – and not bypass them. Also scoring 22 out of 25, the MPW confirms our efforts in this area.
   
   
3. Market understanding
   
   Constant change and a continuous exchange with industry partners, consultants and analysts are important elements of a future-driven software strategy. New features and modern technology components such as our numerous AI features, which make data maintenance and use much easier for OMN users, are emblematic of our mission to develop state-of-the-art software that puts product content processes in focus.

For more details, download the full MPW document here: To MPW download