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Follow on Google News | Product Information Management Market Trends, Report 2021-2027Misapprehensions about data security and privacy risks are acting as a major restraint for the market For instance, recently in October 2020, Pfizer had suffered a data breach due to email addresses, home addresses, full names, and other HIPAA related information from unsecured cloud storage. Another, major reason that company is reluctant to adopt a cloud-based solution is system integration complexities. Hence, security and other compliance have been the organization of the primary concern across the globe are reluctant to adopt new solutions that involve data handling or shifting from one platform to another. PIM involves data collection and transmission from one channel to another. The synchronization and publishing of the data across channels have been also involved with the PIM system. Varied data and government regulations across industries and regions are hampering the market growth Data security concerns have been growing rapidly and it is very crucial to protect individual data. Thus, the government organization and associations have created numerous regulations and guidelines across all industry verticals. Companies across industries and countries have varied regulations with which PIM companies, as well as industry participants, need to comply. For instance, in countries like India, Government e-Marketplace (GeM) controlled by the Ministry of Commerce and Industry mandated for sellers to enter the Country of Origin while registering all new products on GeM. In the US, also medical device manufacturers need to comply with the Global Unique Identification Database a database administered by the Food and Drug Administration for better product assortment and global identification. Sample Copy :https://www.blueweaveconsulting.com/ End
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