Catalog Management Systems Market

Catalog Management Systems Market registered a revenue of USD 1.5 billion in 2021 and is projected to reach USD 3.0 billion in 2029, growing at a CAGR of 9.1% during the forecast period from 2022-2029

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Major Catalog Management Systems Market Drivers

Increasing demand for enhanced catalog management from diverse industrial verticals to minimize operational costs and streamline selling processes are major factors expected to drive the growth of the global catalog management systems market. For instance, in 2018, according to NTT Data Corporation, 88.3% of organizations worldwide revealed that they perceive customer experience (CX) as a competitive differentiator. Whereas in insurance financial services, 96.1% of respondents expressed that customer experience is a competitive differentiator for their organizations. In addition, increasing technological advancements in IT systems to fulfill the dynamic demands of the customers is another vital factor expected to support the growth of the global market. Furthermore, the growing affordability of catalog management software is expected to drive the growth of the global catalog management systems market.

Restraint in the Catalog Management Systems Market

However, prevailing data security apprehensions of the product and service data stored in catalog management systems is a major restraining factor which is hindering the growth of the global Catalog Management Systems market.

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Organization Size – Segment Analysis

Based on the Organization Size, the Small & Medium Enterprises segment is expected to grow at a higher CAGR during the forecast period. This segment has a low marketing budget and often lacks the resources and capabilities for effective marketing balance. This segment faces greater challenges of the limited budget than large enterprises and needs better methods to resolve complexities for enhancing the cost optimization of their business processes. Cloud-based software and services offer benefits like reliability, scalability, user-friendly capabilities, easy integration, increased agility, and high efficiency, which are expected to encourage Small & Medium Enterprises to adopt cloud-based catalog management system solutions and services rapidly.

Vertical – Segment Analysis

Based on the Organization Size, the Retail and e-commerce segment is expected to grow at a higher CAGR during the forecast period. This is the fastest-growing segment in terms of the adoption of advanced technologies and services due to the huge volume of product data. Digital evolution has led to the boom in the retail and eCommerce sector to meet customers’ dynamic requirements. Nowadays, customers demand rich and consistent product information; therefore, the catalog manager ensures product data quality across all the sales channels. This includes how merchants organize, standardize, and publish their product data with each sales channel. Hence, whether the product data is created in-house or is from third parties like suppliers, organizations need to maintain its accuracy.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. The IT spending across the companies in the region is gradually rising, which is projected to boost the adoption of the catalog management systems market. Asian countries like China, India, and Japan are the leading countries in terms of the adoption of catalog management systems and services in the region. While the expenditure on technology solutions in this region has increased, a setback is witnessed due to the recent COVID-19 pandemic. The COVID-19 outbreak makes it more urgent for business leaders across Asia-Pacific to increase their rate of cloud adoption and digital transformation, thereby creating great market opportunities for the vendors across the region. Moreover, the current pandemic has forced the retail vertical across Asia-Pacific to shift toward digital innovation and eCommerce, resulting in huge market opportunities for catalog management system vendors.

Top Market Players

Various notable players operating in the market include IBM Corporation, SAP SE, Oracle, Salsify, Coupa Software Inc., ServiceNow, Proactis Holdings Plc., Broadcom, FUJITSU, Comarch SA, among others. 

Key Developments:

• • In 2020, Salsify collaborated with e-Comas, an Amazon consulting, account management, and content optimization firm. The partnership focuses on providing Amazon digital shelf excellence to brand manufacturers in Europe, Middle East, and Africa (EMEA) by using Salsify’s solutions.
  • In 2020, Oracle announced the implementation guide for Oracle Product Information Management version 12.1. This new version provides users to efficiently define responsibilities, users, suppliers, customers, setting up item catalogs and categories, item templates, and manage item statuses, among others.
  • In 2019, SAP released its Product Content Hub, which is a cloud-based PIM solution. This new product provides master product data for customer-facing systems, including the SAP Commerce Cloud System, and its user interface allows business-users to efficiently create and manage high-quality product data across marketing channels.

Segments covered in the Report:

The global Catalog Management Systems market has been segmented on the basis of Type, Component, Deployment Type, Organization Size, Vertical and regions. Based on Type, the market is segmented into Product Catalogs and Service Catalogs. Based on Component, the market is segmented into Solutions and Services. The Services segment is further categorized into Managed Services and Professional Services. Based on Deployment Type, the market is segmented into On-premises and Cloud. Based on Organization Size the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, Retail and eCommerce, Telecom, IT, Media and Entertainment, Travel and Hospitality and Others. 

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Market Segmentation

Global Catalog Management Systems Market by Type

• • Product Catalogs
  • Service Catalogs

Global Catalog Management Systems Market by Component

• • Solutions
  • Services
    • Managed Services
    • Professional Services

Global Catalog Management Systems Market by Deployment Type

• • On-premises
  • Cloud

Global Catalog Management Systems Market by Organization Size

• • Large Enterprises
  • Small & Medium Enterprises

Global Catalog Management Systems Market by Vertical

• • BFSI
  • Retail and eCommerce
  • Telecom
  • IT
  • Media and Entertainment
  • Travel and Hospitality
  • Others

Global Catalog Management Systems Market by Region

• • North America Catalog Management Systems Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up

  • Europe Catalog Management Systems Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Catalog Management Systems Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Catalog Management Systems Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Catalog Management Systems (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • SAP SE
  • Oracle
  • Salsify
  • Coupa Software Inc.
  • ServiceNow
  • Proactis Holdings Plc.
  • Broadcom
  • FUJITSU
  • Comarch SA