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Growing Demand from Emerging Asia-Pacific Markets is Likely to Boost Market Growth
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The growing focus of retail companies on enhancing brand equity and improving profitability, coupled with strong demand from the Asia-Pacific region is likely to drive the growth of the global retail PLM market. The high cost of installing retail PLM solutions and the adoption of competitive pricing strategies by major market participants are likely to be the major hindrances that could potentially slow down the rate of expansion retail PLM solutions. With the advent of advanced Information and Communication Technology (ICT) influences, the scope and functionality of retail PLM applications is expected to undergo a wave of innovation in the coming years.
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