LONDON–(BUSINESS WIRE)–Mar 30, 2020–
The catalog management software market is expected to grow by USD 423.22 million during 2020-2024, according to the latest market research report by Technavio.
This press release features multimedia. View the full release here:
Technavio has published a latest market research report titled Global Catalog Management Software Market 2020-2024 (Graphic: Business Wire)
Affordability is one of the prime factors fueling the demand for catalog management software. Moderately priced catalog management software enables end-users to manage the huge database of suppliers, contact information, and other details of products and services, allowing automation of the entire process. These end-users include industries such as software and services, healthcare, food and retail, and financial services. Some of the prominent vendors offering catalog management software at affordable prices include the MyBusinessCatalog, which offers software at $179-$389, and Now In Store, which offers software at $9 per month per user. In addition, the fees associated with the catalog management marketplace model are upfront and transparent, i.e. a simple monthly per-user subscription fee for buy-side users and no cost for suppliers.
As per Technavio, the increasing demand for product catalog management by e-commerce merchants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online product catalogs are important for e-commerce retailers. Creating an exhaustive and information-rich experience helps e-commerce businesses build interest among online visitors. E-commerce merchants can no longer afford to forgo product catalog management because of customers’ increasing demands. E-commerce merchants must meet the expectations of customers in order to stay competitive in fierce competition. E-commerce catalog management lays the foundation for the omnichannel strategy of different retailers. Hence, consistent product information across channels makes omnichannel shopping easier. Customers can search and find the same product at any touchpoint. Thus, the increase in demand for product catalog management by e-commerce merchants will drive the growth of the market during the forecast period.
This market research report segments the by deployment (cloud-based and on-premises), end-user (retail, e-commerce, marketing and media, manufacturing, and others), and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the catalog management software market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the rapid increase in data generation across industry verticals such as retail, healthcare, and e-commerce due to increased digital transformation.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:
CONTACT: Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website:www.technavio.com/
KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 03/30/2020 11:30 AM/DISC: 03/30/2020 11:30 AM
COMMENTS
Please let us know if you're having issues with commenting.