Catalog Management System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Catalog Management System Market Analysis
The Catalog Management System Market is expected to grow at a CAGR of 9% over the forecast period. The requirement to have centrally managed product and service data, increasing customer requirements, and expanding the number of digital transformation initiatives in the retail and eCommerce industry verticals are determinants driving the growth of the catalog management market.
- Catalog management systems enable companies to manage their product data in a single system, resulting in vast catalogs with optimum layout and design. Catalog management systems streamline workflow and manage catalog modifications across all channels, locations, and platforms. Catalog management makes it easier to create tailored and seasonal catalogs for many industries, resulting in new business Opportunities.
- The cloud deployment model would grow tremendously in the catalog management systems market. Significant factors include interactive dashboards, ease of flexibility, enhanced security features, and better scalability that could promote businesses to utilize cloud deployment. In addition, SMEs prefer the cloud-deployed catalog management system because of its economic benefits, driving the global market.
- Customers worldwide are becoming tech-savvy and prefer to engage with businesses via digital channels, such as social media, mobile apps, and websites. Hence, nowadays, this industry vertical is wholly focused on customer satisfaction, requirements, and feedback and is adopting digital technologies. Moreover, the eCommerce and retail industry verticals strategize customer engagement channels to fulfill the need of technologically advanced consumers. For example, Vue.ai use AI to enhance product data, control content, create graphics, and assist retailers in creating organized Catalogs.
- Data collection and transmission from one channel to another are involved in catalog management. Catal catalog management systems also include data synchronization and publication across channels. Many businesses believe that catalog management systems could result in data breaches in their highly abstracted data sets because they lack sufficient information about security frameworks and how to implement them. The main barriers limiting the adoption of catalog management solutions are concerns regarding data security.
- The market for catalog management solutions has benefited from the COVID-19 pandemic. Several industries, including retail and eCommerce, telecom, media, and entertainment, have undergone a digital transformation because of COVID-19. In addition to capturing and uploading data and mapping it to consumer demands, these systems offer a fast overview of the products in a channel. They also assist in real-time data validation, enrichment, and augmentation. They automate the production of catalog information utilizing data from many sources to enhance product assortment and accomplish quicker product data syndication across channels. After the pandemic, the market is growing rapidly with the increased digital transformation activities in various sectors.
Catalog Management System Market Trends
Growing Digital Transformation Initiatives Drives the Market Growth
- Growing digital transformation initiatives in the retail and e-commerce sector are driving the catalog management system market. Customers throughout the globe are growing more tech-savvy, preferring to interact with businesses through digital channels such as social media, smartphone applications, and websites. This industrial vertical is very concerned with customer satisfaction, requirements, and feedback, and it is progressively embracing digital technology. Furthermore, the retail and e-commerce sector vertical is designing customer interaction methods to meet the global need for digitally sophisticated customers.
- With the increasing need for smartphones and other data-hungry devices in the digital era, giving customers the right products at the right time continues to challenge CSPs. It can be challenging for CSPs to create, manage, and monetize data offers efficiently. A centralized product catalog assists in seizing revenue-generating opportunities, reducing time-to-market (TTM), delivering unparalleled Quality of Experience (QoE), retaining a profitable subscriber base, reducing churn, and improving brand loyalty.
- Furthermore, the increasing affordability of catalog management software is likely to propel the catalog management system market forward. Furthermore, the growing desire for centralized systems for better marketing and selling products and services is driving global demand. Small and medium-sized businesses and huge corporations use advanced software and services to centrally handle offers/discounts, product data, payment systems, and inventories. The newest technologies, such as artificial intelligence, are likely to improve the capabilities of catalog management solutions substantially, providing great growth potential to the catalog management systems market.
- To develop and improve their company operations, industries such as BFSI, retail, and healthcare have invested in and adopted new technologies such as Artificial Intelligence (AI) and Machine Learning (ML). By picking data from reliable sources, contextual suggestions, and product rankings, AI-enabled catalog management delivers enrichment procedures, anomaly detection, and automatic classification of items. AI-powered catalog management system solutions may generate automatic perceptions of data problems and aid in the creation of a unified perspective of the data.
- According to IBM, It reports a considerable boost in supply chain business efficiency for organizations that use artificial intelligence. Companies that used AI claimed increased efficiency and lower structural costs. Across the globe, approximately 95% of reported organizations stated the increasing efficiency in resolving persistent challenges by using artificial intelligence.
Asia Pacific is Expected to be the Fastest Growing Market
- APAC is foreseen to be the fastest-growing region in the global catalog management systems market during the forecast period. Rapid economic developments, digitalization, globalization, and the increased adoption of cloud-based technologies are expected to drive the APAC region's catalog management systems market.
- The catalog management market in the Asia Pacific is expected to be fueled by an increase in the adoption of catalog management solutions by many SMEs in the region. The growth of the e-commerce sector in the region is also estimated to drive the catalog management market during the forecast period. According to India Brand Equity Foundation, the Indian e-commerce sector is expected to grow by 21.5% and reach USD 74.8 billion in the previous year. By 2030, it is anticipated that India's e-commerce business would be worth USD 350 billion.
- In addition, the surge in internet and smartphone usage has spurred the industry's growth in the country. According to TRAI, the total number of internet connections in India reached 834.29 million in the previous year. As a result, connectivity has nearly quadrupled since 2015, with 302.33 million connections. Although around 70% of India's population lives in rural regions, the number of connections in urban areas remains more significant than in rural ones. In 2022, there would be 497.69 million urban connections and 336.6 million rural connections, fuelling the e-commerce business in the country and simultaneously driving the catalog management system market in the country and the region.
- The GSMA community has swiftly expanded to over 2,000 members from over 60 countries, with more growth expected in the current year, with inaugural members including AIS, Axiata, depa, DHL, Globe, Huawei, Kominfo, Maxis, MDEC, Schneider Electric, Telkomsel, and Viettel. The ecosystem was created to facilitate collaboration on Sector 4.0 and digital transformation built on 5G networks, edge-cloud services, enterprise IoT, and AI for all players in the 5G industry, including government agencies, industry groups, and mobile network providers. This shows the growth potential of digital transformation of businesses in the region and driving the market in APAC.
- The need for cost optimization and effective utilization of IT & Telecom infrastructures is expected to propel the demand for catalog management systems solutions and associated services.
Catalog Management System Industry Overview
The Catalog Management System Market is moderately competitive, with many local and international companies. Vendors working in the market are giving affordable solutions to gain market share. An improvement in the digital transformation in retail and e-commerce sectors creates a way to enter new players into the market. Players in the market are adopting strategies such as partnerships, innovations, mergers, investments, and acquisitions to enhance their offerings and gain sustainable competitive advantage.
- September 2022 - Amberoon's Statum KPI SaaS application has been made available for purchase on the IBM Cloud Catalog, according to the company, which creates compliance, performance enhancement, and privacy management solutions for banks and credit unions. They have been made available as integrated billing services through IBM Cloud Catalog, which enables users to set up a service instance. IBM allowed financial service providers from all over the nation to investigate this solution in its catalog and offered the service catalog platform to Amberoon Statum.
- March 2022 - For the Open Digital Architecture (ODA) transformation, stc has chosen Ericsson's Catalog Management solutions to replace the customer order management features of the current Customer Relationship Management (CRM) & Order Management system. The company's services focus on 5G and IoT, and a consolidated catalog and order management system become essential, along with generating new revenue sources and reducing continuing costs. The partnership with Ericsson would help the company to improve its digital infrastructure and move more quickly toward a digital transformation.
Catalog Management System Market Leaders
IBM Corporation
Oracle Corporation
SAP SE
Coupa Software Inc.
ServiceNow Inc.
*Disclaimer: Major Players sorted in no particular order
Catalog Management System Market News
- September 2022 - New features for Acquia DAM, Channel Portals, were released by Acquia. They make it simple for organizations to create and share safe, branded content. With each partner separately, current digital product catalogs are used to boost sales and guarantee that the products are appropriately shown in the market. Current product content is necessary for website content, in-store displays, sales interactions, and email marketing. With the help of Channel Portals, a business user may quickly filter a product catalog to get the details and materials that each group requires in order to promote and sell the products.
- September 2022 - Transact, a specialized e-commerce practice of Omnicom Group Inc. OMC, has been introduced. In addition to eCommerce consulting and e-retail execution services, Transact provides retail media and analytics, content optimization, catalog management, and account management. Transact has been funded by Omni Commerce. It would improve Omnicom's e-commerce capabilities by assisting customers with cross-channel expenditure allocation, operational adjustments to inventory and sales systems, and the coupling of strategic choices with marketing messaging.
- April 2022 - Edgistify, an eCommerce fulfillment platform, and Eunimart, an eCommerce enabler, have partnered to provide businesses with simple hyper-local delivery PAN India. To give merchants access to hyper-local delivery, Eunimart would integrate with Edgistify's warehouses and leverage their extensive network. A smooth eCommerce experience for retailers would result from this agreement between Eunimart and Edgistify. They would have access to everything from last-mile delivery to procurement, catalog management, inventory management, and warehousing.
Catalog Management System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers/Consumers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain/Supply Chain Analysis
4.4 Assessment of Impact of Covid-19 on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Digital Transformation Initiatives
5.1.2 Necessity of Centralized Systems for Improved Marketing and Selling
5.2 Market Restraints
5.2.1 Privacy and Security Concerns
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Service Catalogs
6.1.2 Product Catalogs
6.2 By Deployment Type
6.2.1 Cloud
6.2.2 On-Premises
6.3 By Industry Vertical
6.3.1 IT & Telecom
6.3.2 Retail & e-Commerce
6.3.3 BFSI
6.3.4 Media & Entertainment
6.3.5 Travel & Hospitality
6.3.6 Other Industry Verticals
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Oracle Corporation
7.1.3 SAP SE
7.1.4 Coupa Software Inc.
7.1.5 ServiceNow Inc.
7.1.6 Proactis Holdings Plc
7.1.7 Fujitsu Limited
7.1.8 Broadcom Corporation
7.1.9 Comarch SA
7.1.10 Zycus Inc
7.1.11 GEP Worldwide
7.1.12 Telefonaktiebolaget LM Ericsson
7.1.13 Salsify Inc.
7.1.14 Insite Software Solutions, Inc.
7.1.15 Amdocs
7.1.16 Vroozi, Inc.
7.1.17 Sellercloud Inc.
7.1.18 Plytix.com ApS
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Catalog Management System Industry Segmentation
Catalog management solutions enable companies to manage their products or services data in an individual system, ending in large catalogs with optimized arrangement and design. Catalog management solutions simplify workflow and manage catalog changes regardless of the location, channel, or platform. Catalog management expedites the making of personalized and periodical catalogs for diverse sectors, thereby generating growth possibilities. It allows businesses to manage information about names, descriptions, pricing, and supplier details of products or services.
The Catalog Management System Market is segmented by Type (Service Catalogs, Product Catalogs), Deployment Type (Cloud, On-Premises), Industry Vertical (IT & Telecom, Retail & eCommerce, BFSI, Media & Entertainment, Travel & Hospitality), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).
The market sizes and forecasts are provided in terms of value in USD million for all the above segments.
| By Type | |
| Service Catalogs | |
| Product Catalogs |
| By Deployment Type | |
| Cloud | |
| On-Premises |
| By Industry Vertical | |
| IT & Telecom | |
| Retail & e-Commerce | |
| BFSI | |
| Media & Entertainment | |
| Travel & Hospitality | |
| Other Industry Verticals |
| Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Catalog Management System Market Research FAQs
What is the current Catalog Management System Market size?
The Catalog Management System Market is projected to register a CAGR of 9% during the forecast period (2024-2029)
Who are the key players in Catalog Management System Market?
IBM Corporation, Oracle Corporation, SAP SE, Coupa Software Inc. and ServiceNow Inc. are the major companies operating in the Catalog Management System Market.
Which is the fastest growing region in Catalog Management System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Catalog Management System Market?
In 2024, the North America accounts for the largest market share in Catalog Management System Market.
What years does this Catalog Management System Market cover?
The report covers the Catalog Management System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Catalog Management System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Catalog Management System Industry Report
Statistics for the 2024 Catalog Management System market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Catalog Management System analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
