DUBLIN–(BUSINESS WIRE)–Feb 22, 2021–
The “Catalog Management System Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Catalog Management System Market is expected to grow at a CAGR of 9% over the forecast period 2021 to 2026.
The requirement to have centrally managed product and service data, increasing customer requirements, expanding the number of digital transformation initiatives in the retail, and eCommerce industry verticals are determinants driving the growth of the catalog management market.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Coupa Software Inc.
- ServiceNow Inc.
- Proactis Holdings Plc
- Fujitsu Limited
- Broadcom Corporation
- Comarch SA
- Zycus Inc
- GEP Worldwide
- Telefonaktiebolaget LM Ericsson
- Salsify Inc.
- Insite Software Solutions, Inc.
- Vroozi, Inc.
- Sellercloud Inc.
- Plytix.com ApS
Key Market Trends
IT & Telecom Vertical to Drive the Market
- With the increasing need for smartphones and other data-hungry devices in the digital era, giving customers the right products at the right time continues to be a challenge for CSPs. It can be challenging for CSPs to create, manage, and monetize data offers efficiently. A centralized product catalog assists seize revenue-generating opportunities, reduce time-to-market (TTM), deliver unparalleled Quality of Experience (QoE), retain a profitable subscriber base, reduce churn, and improve brand loyalty.
- Catalog Management System helps CSPs design, collaborate, organize, and manage offer life cycles with ease, giving them a competitive edge to launch numerous innovative plans and services. The decreased TTM and capacity to respond instantly to customer demands assure customer happiness, redefine the customer experience, boost ARPU and ROI, and lower operating costs.
- For instance, Ericsson Catalog Manager allows customers to rapidly launch and enable new innovative offerings with simple user experience and enterprise product, service & resource catalog capabilities, providing key catalog features such as centralized catalog, graphical designer tool, and scalable run-time access among others.
- Alepo’s next-gen Digital BSS platform, with a built-in product catalog, is designed to increase revenue and customer loyalty by facilitating a rapid TTM for innovative products and services. The centralized Alepo Product Catalog gives CSPs the flexibility to agilely respond in a continuously evolving market across multiple access technologies with fine-grained prepaid, postpaid, and hybrid plans.
- Catalog Management System has led to a catalog drove business processes strategy and the concept of an active/dynamic product catalog in business and IT architecture. According to Infosys Limited, catalog-driven architecture realizes several benefits, such as up to 25% increase in straight-through provisioning, 60-80% reduction of average handling time for order capture, 25-30% reduction of manual handling effort for capturing and executing customer orders, up to 80% improved time-to-market for product enhancements and launches.
Asia Pacific (APAC) to be the Fastest Growing Region of the Market
- APAC is foreseen to be the fastest-growing region in the global catalog management systems market during the forecast period. Rapid economic developments, digitalization, globalization, and the increased adoption of cloud-based technologies are expected to drive the APAC region’s catalog management systems market. According to Minsheng Securities, the cloud computing market in China has increased from CNY 4.2 billion in 2015 and is expected to reach CNY 69.2 billion by 2021.
- The catalog management market in the Asia Pacific is expected to be fueled by an increase in the adoption of catalog management solutions by many SMEs in the region. The growth of the e-commerce sector in the region is also estimated to drive the catalog management market during the forecast period. For instance, as per IBEF & Morgan Stanley, the market value of the e-commerce industry in India was approximately USD 50 billion in 2018. This number was estimated to reach USD 200 billion by 2027.
- According to GSMA, In 2019, the smartphone adoption rate reached 64% and is expected to rise to 81% by 2025. Concurrently, the mobile subscriber penetration rate is expected to reach 60% in the same year. Hence, in the Asia-Pacific region, smartphone penetration is increasing, and increasing disposable income intensifies market growth.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness Porter’s Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Digital Transformation Initiatives
5.1.2 Necessity of Centralized Systems for Improved Marketing and Selling
5.2 Market Restraints
5.2.1 Privacy and Security Concerns
5.3 Industry Value Chain Analysis
5.4 Assessment of Impact of Covid-19 on the Industry
6 MARKET SEGMENTATION
6.1 By Type
6.2 By Deployment Type
6.3 By Industry Vertical
6.4.1 North America
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/czkq1a
View source version on businesswire.com:https://www.businesswire.com/news/home/20210222005453/en/
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INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY TELECOMMUNICATIONS
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 02/22/2021 06:51 AM/DISC: 02/22/2021 06:51 AM
Copyright Business Wire 2021.