Catalog Management Systems Market
Catalog Management Systems Market was around US$ 878.31 Mn in 2018 and is expected to grow at a CAGR of around % in the forecast period of 2019-2026
Catalog management system denotes the maintenance of product information in a structured as well as the organized manner for helping customers as well as channel partners to understand the product benefits. Generally, catalogs are given for providing detailed information of product functionalities, price and are usually available on websites.
A catalog management system helps in designing and editing online catalogs, thus helping to price the products available. Major driving factors for the market include the digital transformation initiatives that have resulted in the boom of retail and the industry vertical, along with improved IT systems for meeting customers’ dynamic requirements. Other than this, it is the manageability, creation of queries to search the catalog over multiple categories together with the creation of easily navigable pages are certain other growth drivers for the catalog management systems market.
Among deployments, it is the cloud deployment type that is expected to gain traction during the current forecast period, as it offers the agility of booth on-demand resource deployment as well as consumption. Organizations prefer the cloud deployment model, also because it offers ease of access along with reduced capital and operational expenses.
The catalog management systems market is segmented by component, organization size, deployment type, type, industry, and region. The small and medium-sized enterprises or SMEs segment is expected to grow at a higher rate during the forecast period because of rising need to reduce operational costs as well as streamline selling processes. These factors, in turn, have driven the adoption rate of catalog management system solution and services.
North America is estimated to hold the largest market size in 2018. It can be attributed to the presence of large manufacturers and companies in the region. The region is also one of the fastest in terms of technology adoption along with IT infrastructure optimization that has further boosted the catalog management systems market globally.
The key players of the Catalog Management Systems market include IBM (US), Oracle (US), SAP SE (Germany), and CA Technologies (US).
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Catalog Management Systems Market scope:-
Catalog Management Systems Market, By Component
Author Signature :
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
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