The Asia Pacific Catalog Management System Market would witness market growth of 14.2% CAGR during the forecast period (2021-2027).
Customers are growing increasingly tech-savvy, preferring to interact with businesses through digital channels like social media, smartphone applications, and websites. As a result, this sector vertical is more customer centric satisfaction, needs, and feedback, as well as the implementation of digital technology. Furthermore, to meet the needs of digitally evolved customers, the eCommerce and retail business vertical is designing customer engagement channels.
As per the Salesforce.com, Inc., the most popular digital shopper channels via which shoppers were contemplating improving their purchases were shopping applications and social media. In a June 2019 poll of customers, 35% stated they planned to increase their purchases through shopping app. With 32 percent of poll respondents planned to utilize these channels more, social media and brand websites came in second.
Asia Pacific has seen rapid and advanced adoption of new technologies, and it is expected to grow at the fastest rate throughout the projection period. Furthermore, IT investment in the region is constantly expanding, which is expected to result in an increase in the use of catalogue management software solutions. In terms of catalogue management software solutions and services, China, Japan, India, New Zealand (ANZ) and Australia are the dominant countries in the area.
While spending on IT solutions has surged in APAC, the recent COVID-19 epidemic has caused a setback. The COVID-19 epidemic makes it even more critical for corporate executives across APAC to accelerate cloud adoption and digital transformation, opening up huge market potential for catalogue management system manufacturers. The present epidemic, on the other hand, has driven the retail sector in APAC to pivot on digital innovation and eCommerce, creating massive market prospects for catalogue management system manufacturers.
The China market dominated the Asia Pacific Catalog Management System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $668.4 million by 2027. The Japan market is anticipated to grow at a CAGR of 13.5% during (2021 - 2027). Additionally, The India market would experience a CAGR of 14.9% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Services Type, the market is segmented into Professional Services and Managed Services. Based on Type, the market is segmented into Product Catalog and Service Catalog. Based on Deployment Type, the market is segmented into Cloud and On-Premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into Retail & eCommerce, BFSI, IT & Telecom, Media & Entertainment, Travel & Hospitality and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Catalog Management System Market is Projected to reach USD 7.9 Billion by 2027, at a CAGR of 12.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Proactis Holdings Limited (Café Bidco Limited), Coupa Software, Inc., IBM Corporation, SAP SE, Broadcom, Inc., Oracle Corporation, Fujitsu Limited, Salsify, Inc., ServiceNow, Inc., and Comarch SA.
By Component
By Type
By Deployment Type
By Organization Size
By Vertical
By Country
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