Analyzing Data Segment to Dominate APAC Product Analytics Market during 2020–2028      

According to a new market research study on “APAC Product Analytics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Deployment, Mode, and Vertical” is expected to reach US$ 84,377.57 million by 2028 from 1,246.01 US$ million in 2021. The market is estimated to grow at a CAGR of 19.7% from 2021 to 2028. The report provides trends prevailing in the APAC product analytics market along with the drivers and restraints pertaining to the market growth. Significant role of product analytics and intelligence tools in post-pandemic era is the major factor driving the growth of the APAC product analytics market. However, issues associated with rising concerns over data privacy and security hinders the growth of APAC product analytics market.

 APAC product analytics market is segmented into component, deployment, mode, vertical and country. Based on component, the APAC product analytics market can be bifurcated into solutions and services. The solutions segment held the largest market share in 2020. Based on deployment type, the APAC product analytics is categorized into on premise, and cloud-based. The cloud-based segment led the APAC product analytics with a larger market share. Based on mode, the product analytics can be categorized into tracking data, and analyzing data. Analyzing data segment held the largest market share in 2020. Based on vertical, the product analytics market is segmented into retail and consumer goods, food and beverages, healthcare and pharmaceuticals, energy, and utilities, automotive, manufacturing, and others. The retail and consumer goods segment led the APAC product analytics with a market with larger market share. Based on country, the APAC product analytics market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.

The COVID-19 pandemic has not only disrupted the overall economy in APAC but has also changed the buyers’ attitude toward the various industry verticals. A rise in consumer demand for expensive features in products and services and a “new normal” way of living persuaded brands to start investing in online marketplaces to drive store visits. As a result, the businesses are adjusting their strategies, according to the changes in consumer behavior and many are going through a digital and e-commerce transformation. The market rebound in the last few months is encouraging the growth of product analytics solutions. Countries in the APAC region are anticipated to harness the potential of AI, IoT technologies, and digitalization. Southeast Asian nations such as Indonesia launched a capacity-building programmed to expedite digitization among micro, small, and medium enterprises. A customer’s interaction with a company in times of crisis can trigger an immediate effect on the sense of trust and loyalty. Thus, product analytics leaders are focusing to cater to the longer-term shifts in consumer behavior that result from this crisis. Demands for real-time monitoring and analysis of changing customer preferences are anticipated to boost the APAC market in the post-pandemic era. Access to real-time data is important for the e-commerce businesses in the APAC region to accelerate their sales, promotions, and orders in the post-pandemic era.   

Amplitude, Inc.; Gainsight; IBM Corporation; Mixpanel; and Pendo.io, Inc. are among the leading companies in the APAC product analytics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Heap will use the funds to expand its global operations and speed up research and development of the industry’s most comprehensive digital analytics platform for product builders, growth marketers, and fast-moving analytics teams. Heap’s quick product creation will be aided by the latest funding, which will see the firm release Illuminate, a data-science-powered solution that solves the difficulties of legacy solutions that are ill-equipped to respond to the increasing complexity of the modern customer journey, in 2021.

APAC Product Analytics Market, By Country, 2020 and 2028 (%)

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