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Catalog Management Systems Market - Global Forecast to 2023: Opportunities in Advancements in Areas of Machine Learning (ML), Analytics, and Artificial Intelligence (AI)DUBLIN, Aug 14, 2018 /PRNewswire/ -- The "Catalog Management Systems Market by Component, Deployment Type, Organization Size, Industry Vertical (IT and Telecom, Retail and eCommerce, BFSI, Media and Entertainment, Travel and Hospitality), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The global catalog management systems market size is expected to grow from USD 846.6 million in 2018 to USD 1,190.0 million by 2023, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. Major growth factors for the market include the digital transformation initiatives that have led to the boom of retail and eCommerce industry vertical, and improved IT systems to meet customers' dynamic requirements. Major growth industry verticals in the market include Banking, Financial Services, and Insurance (BFSI); retail and eCommerce; and Information Technology (IT) and telecom. The report segments the catalog management systems market by component, deployment type, organization size, industry vertical, and region. The solution segment is estimated to dominate the market in 2018, while the services segment is expected to grow at a higher CAGR during the forecast period. Catalog management solution and services are gaining popularity, as they empower enterprises to meet their cataloging requirements in a cost-effective manner. Among deployments, the cloud deployment type is expected to gain traction during the forecast period, as it offers the agility of on-demand resource deployment and consumption. Organizations prefer the cloud deployment model, as it offers ease of access along with reduced capital and operational expenses. The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.The growing need to reduce operational costs and streamline selling processes would drive the adoption rate of catalog management solution and services. Industry verticals, such as BFSI, IT and telecom, retail and eCommerce, media and entertainment, travel and hospitality, and others (government, healthcare, and energy and utilities) are rapidly adopting catalog management solution and services to optimize their selling processes. The IT and telecom industry vertical is expected to hold the largest market size during the forecast period, while the retail and eCommerce industry vertical would present prospective opportunities for catalog management systems vendors during the forecast period. The 5 major geographic regions in the catalog management systems market are North America, Europe, Asia Pacific (APAC), Middle East and Catalog management systems help organizations in their cataloging and selling processes. Some of the organizations are still unaware of their functionalities, and end up buying catalog management systems not meant for them. There are prevailing data security apprehensions, as product and service data is stored in catalog management systems. These could be restraining factors for the growth of catalog management systems market. Key Topics Covered: 1 Introduction 4.1 Attractive Market Opportunities in the Catalog Management Systems Market 5.1 Introduction 6.1 Introduction 7 Market By Component 7.1 Introduction 8.1 Introduction 9.1 Introduction 10.1 Introduction 11.1 Introduction 12.1 Overview 13.1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/62z35j/catalog?w=5 Media Contact: Research and Markets
SOURCE Research and Markets |