Catalog Management Software Market | Rising Affordability of CMS to Boost the Market Growth | Technavio
The global catalog management software market size is poised to grow by USD 423.22 million during 2020-2024, progressing at a CAGR of about 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Catalog Management Software Market 2020-2024 (Graphic: Business Wire)
The affordable pricing and planning offered by providers is boosting the demand for catalog management software. The moderately priced catalog management software allows end-users to manage the huge database of suppliers, contact information, and other details of products and services, enabling automation of the entire process. These end-users include software and services, healthcare, food and retail, and financial services industries. The fees associated with the catalog management marketplace model are upfront and fully transparent. This is a simple monthly per-user subscription fee for buy-side users and no cost for suppliers.
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Increasing Demand for Improved Catalog Management will be a Key Market Trend
Catalog management represents a solution for organizations to consolidate data into a single digital marketplace. It is the best way to consolidate data into a single source of truth for all customers, suppliers, processes, and policies. The increasing demand for improved catalog management is one of the key catalog management software market trends as it is beneficial in matching data, removing duplicates, and ensuring consistency. The real benefit to catalog management is in the utilization of master data. Catalog management software allows end-users to manage all their product data in a single system and update catalogs in multiple formats. The software also helps to simplify the workflow and manage all catalog changes regardless of the channel, platform, or location. It also enables the enrichment of product data and necessitates the change of information.
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Catalog Management Software Market 2020-2024: Key Highlights
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Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Deployment
Drivers, Challenges, and Trends
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