Organizations employ catalog management systems for maintaining product and service information in an organized manner to enable channel partners and customers to keep up with information, pricing, and updates related to products or services. The catalog management system market is gaining immense popularity with digital transformation initiatives in e-commerce as well as in the retail sector.
The catalog management systems market is anticipated to grow in the forecast period owing to driving factors such as digital transformation across industries for improvising marketing and selling activities. However, the catalog management systems market may get negatively affected due to the associated privacy and security concerns. Nonetheless, the small and medium enterprises offer lucrative opportunities for players operating in the catalog management systems market during the forecast period.
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Top Key Players:
As leading companies in Catalog Management Systems market continues to broaden their addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications and markets, all the prominent players faces an increasing level of competition, both from start-ups as well the leading global technology and industrial companies in the world. Various companies in the value chain are acquiring other local players and operating through joint ventures with retailers in the market to maintain their position in market and provide efficient solutions to its customers.
The global catalog management systems market is segmented on the basis of type, component, deployment mode, enterprise size, and end-use industry. Based on type, the market is segmented as product catalogs and service catalogs. On the basis of the component, the market is segmented as solutions and services. By deployment mode, the market is segmented into cloud and on-premises. Based on enterprise size, the market is segmented as large enterprises and SMEs. The market on the basis of the end-use industry is classified as BFSI, IT & telecommunications, e-commerce & retail, media & entertainment, travel & hospitality, and others.
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