CATEGORY MANAGEMENT SOFTWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Lack of IT expertise can hamper adoption of category management software. Category management is a strategic, IT-driven approach that requires proficiency and experience with advanced technologies. However, many organizations, especially small and medium enterprises, continue to struggle with limited in-house technical know-how and trained professionals.

Deploying category management software involves a rigorous implementation process including system integration, data migration, customized configurations and ongoing maintenance that requires high level of coding, analytics and troubleshooting expertise. Without a dedicated team of skilled IT personnel, companies find it extremely challenging to fully leverage the automated data-driven capabilities of this software. These companies often grapple with basic installation, setup issues and interface challenges, which negatively impact user experience and return on investment.

Market Opportunities: Emergence of big data analytics

Emergence of big data analytics can offer opportunity for global category management software market growth. Category management software tools that are equipped with advanced big data analytics capabilities allow companies to gain deeper consumer insights and make smarter decisions.

With the abundance of consumer data now available from various online and offline sources, category management software powered by big data analytics can collect, organize and analyze large volumes of both structured and unstructured data from diverse sources like purchase transactions, loyalty programs, social media, websites and others. This vast and variety of consumer data when fed into sophisticated analytics models can provide invaluable insights into customer preferences, purchase behaviors, trends over time and across regions.