DUBLIN, Dec. 22, 2021 /PRNewswire/ -- The "Global Catalog Management System Market Size, Share & Trends Analysis Report by Type (Product Catalog, Service Catalog), Component (Solution, Service), Deployment Type, Organization Size, Vertical, Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global catalog management system market size is projected to reach USD 9.3 billion by 2028, expanding at a CAGR of 12.5% over the forecast period.
The growing demand from consumers for products such as fashion and apparel and wearable devices, rising internet usage, and increasing smartphone penetration across the globe are some of the factors anticipated to provide lucrative growth opportunities for catalog management solutions over the forecast period.The outbreak of the COVID-19 pandemic has positively impacted the overall market growth owing to digitalization, changing customer preferences, and increased screen time. Small, medium and large enterprises have opted for the work-from-the-home working model to provide a safe working environment for their employees, which has resulted in spending more time on the internet and browsing e-commerce websites. Furthermore, various individuals mainly resort to online purchasing from e-commerce websites, subsequently driving the demand for catalog management systems.Professional services help companies mitigate security gaps and develop security measures for the effective implementation of catalog management systems. The benefits offered by professional services consist of increased profitability, limited administrative expenses, and increased utilization of resources. Furthermore, professional services help boost workforce management by increasing efficiency through better planning, increased collaboration, and integrated knowledge management.The key players in the market for catalog management systems include Oracle Corporation, SAP SE, Fujitsu Limited, Salsify, Coupa Software, International Business Machines Corporation, and Broadcom Inc. These market players are majorly focusing on strategic mergers and acquisitions to enhance their business offerings. For instance, in June 2020, Coupa Software Inc. announced the acquisition of BELLIN Group, a Treasury Management Software (TMS) provider. The acquisition assisted the former company in enhancing its value in payments, treasury, and working capital process and strengthening its position.Catalog Management System Market Report Highlights
For more information about this report visit https://www.researchandmarkets.com/r/eakg6h
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SOURCE Research and Markets
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