LONDON--(BUSINESS WIRE)--The global catalog management software market size is poised to grow by USD 423.22 million during 2020-2024, progressing at a CAGR of about 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The affordable pricing and planning offered by providers is boosting the demand for catalog management software. The moderately priced catalog management software allows end-users to manage the huge database of suppliers, contact information, and other details of products and services, enabling automation of the entire process. These end-users include software and services, healthcare, food and retail, and financial services industries. The fees associated with the catalog management marketplace model are upfront and fully transparent. This is a simple monthly per-user subscription fee for buy-side users and no cost for suppliers.
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- The major catalog management software market growth came from the cloud-based deployment segment. The cloud-based catalog management software is highly preferred as it is faster and more cost-effective than other software solutions. Moreover, cloud-based catalog management software does not require any additional software installation as the data is maintained at the vendor’s data center. Additionally, the end-users can access this data from the data center on a subscription basis.
- North America accounted for the largest catalog management software market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rapid increase in data generation across industry verticals such as retail, healthcare, and e-commerce due to increased digital transformation will significantly influence catalog management software market growth in this region.
- The global catalog management software market is fragmented. Claritum Ltd., Coupa Software Inc., DCatalog Inc., eJeeva.com, Fujitsu Ltd., G2.com Inc., International Business Machines Corp., Oracle Corp., OXATIS SA, PLM Group Aps, and SAP SE. are some of the major market participants. To help clients improve their market position, this catalog management software market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the catalog management software market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we re-evaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/catalog-management-software-market-industry-analysis
Increasing Demand for Improved Catalog Management will be a Key Market Trend
Catalog management represents a solution for organizations to consolidate data into a single digital marketplace. It is the best way to consolidate data into a single source of truth for all customers, suppliers, processes, and policies. The increasing demand for improved catalog management is one of the key catalog management software market trends as it is beneficial in matching data, removing duplicates, and ensuring consistency. The real benefit to catalog management is in the utilization of master data. Catalog management software allows end-users to manage all their product data in a single system and update catalogs in multiple formats. The software also helps to simplify the workflow and manage all catalog changes regardless of the channel, platform, or location. It also enables the enrichment of product data and necessitates the change of information.
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Catalog Management Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist catalog management software market growth during the next five years
- Estimation of the catalog management software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the catalog management software market
- Analysis of the market competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of catalog management software market vendors
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- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Retail - Market size and forecast 2019-2024
- e-commerce - Market size and forecast 2019-2024
- Marketing and media - Market size and forecast 2019-2024
- Manufacturing - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment placement
- Cloud-based - Market size and forecast 2019-2024
- On-premise - Market size and forecast 2019-2024
- Market opportunity by Deployment
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Claritum Ltd.
- Coupa Software Inc.
- Fujitsu Ltd.
- International Business Machines Corp.
- Oracle Corp.
- OXATIS SA
- Proactis Holdings Plc
- Salsify Inc.
- SAP SE
- VINIEO LLC
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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