Farmington, May 02, 2023 (GLOBE NEWSWIRE) -- The Global Catalog Management Systems Market size was valued at USD 1.15 Billion in 2022 and is projected to reach USD 8.72 Billion by 2030, growing at a CAGR of 7.6% from 2023 to 2030. Catalog management is the process of organizing goods so that data is consistent and of high quality across all sales platforms. Different catalogs must be set up based on many different factors for catalog management to work. These publications should be easy to read and consistent. Managing an online catalog means keeping track of product names, descriptions, categories, prices, and other important information. Details like color, style, design, and fit are part of this, and they must be right for buyers to be sent to the right product. People can make and change catalogs with the help of a catalog management system, which helps them figure out how much to charge for the things they sell.
It is used to keep information about goods in a structured and organized way. This helps customers and business partners understand what the benefits of the products are. At the moment, brands sell a wide range of new, short-lived goods through many different channels. Brands are finding it hard to make sure that the information about their products is right on all platforms and channels. Businesses need catalogs because they list the items for sale and tell customers how to get them and when they will be available. Based on how its parts work, catalog management can be broken down into tools and services.
Request Sample Copy of Report “Catalog Management Systems Market Size, Share & Trends Estimation Reports By Type Outlook (Cloud, On-Premises), By Component Outlook (Solution, Service), By Application Outlook (IT & Telecom, Retail & eCommerce, BFSI, Others), By Organization Size Outlook (Small and Medium-Sized Enterprises, Large Enterprises), By Region and Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
By Category:
- Cloud
As businesses in many parts of the world quickly adopt cloud for digital transformation, the cloud segment hopes to get a bigger share of the catalog management systems market.
- On-Premises
Large companies use the on-premises model because they have more money to install catalog management software goods and services in their equipment than small and medium-sized businesses (SMEs).
Regional Analysis:
In 2020, North America held a market share of more than 45.0%, making it the dominant region. In this region, the growth of the market is anticipated to be driven by the expanding presence of industry leaders such as Oracle Corporation, Salsify, SAP SE, and Amdocs, as well as the increasing number of small and medium-sized enterprises.
The Asia-Pacific market for catalog management systems is anticipated to expand at a 15.4% CAGR between 2021 and 2028. The rising demand for technologically advanced solutions among businesses in Asia-Pacific nations such as India and China can be credited with the expansion of the regional market. In addition, rising IT expenditures in the region are anticipated to contribute to the growing adoption of catalog management systems, thereby supporting the expansion of the regional market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.6% from 2023 to 2030. |
| Revenue Forecast by 2030 | $ 8.72 Billion |
| By Type |
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| By Component |
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| By Application |
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| By Organization Size |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Drivers: Growing customer desire for products, the use of ML and AI to improve the customer experience.
Increasing customer demand for products, the use of machine learning and artificial intelligence to enhance the customer experience, more people having access to the internet, and more people having smartphones are all expected to drive industry growth and propel e-commerce businesses toward catalog management systems. Mobile has made it simpler for businesses to utilize mobile apps, social media, and online platforms, resulting in an increase in retail and online shopping through these channels. Customer satisfaction has become an essential objective for businesses.
It is anticipated that newer technologies, such as artificial intelligence (AI), will significantly enhance the capabilities of these systems, allowing the market for catalog management systems to expand rapidly. According to the GSMA, mobile device penetration will reach 81% in 2025, up from 64% in 2019. Simultaneously, it is anticipated that by the end of the year, 60 percent of individuals will own a mobile phone. As a consequence, more people in the Asia-Pacific region are purchasing smartphones, which contributes to the expansion of the industry. Also, according to the ITU, approximately 59% of the world's population will use the internet in 2019.
Key Segments Covered:
Top Market Players:
- IBM
- SAP
- Oracle
- Salsify
- Coupa Software
- ServiceNow
- Proactis
- Broadcom
- Fujitsu
- Comarch
- Zycus
- GEP
- Ericsson
- Amdocs
- Episerver
- SunTec
By Type:
- Cloud
- On-Premises
By Component:
- Solution
- Service
By Application:
- IT & Telecom
- Retail & eCommerce
- BFSI
- Others
By Organization Size:
- Small and Medium-Sized Enterprises
- Large Enterprises
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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