The APAC lead generation solution market is expected to grow from US$ 743.29 million in 2021 to US$ 2,436.54 million by 2028; it is estimated to grow at a CAGR of 18.5% from 2021 to 2028.
China, India, Japan, South Korea, and Australia are major economies in APAC. Rapid growth of finance and insurance sector is expected to fuel the market growth in coming years. In APAC region, the finance and insurance sector is growing rapidly on a large scale. Rising per capita disposable income has led to increase in impulsive buying. As income has increased, various banks as well as nonbanking financial institutes and finance firms are willing to give loans for various purposes. Vehicle loan, education loan, personal loan, home loan, agriculture loan, gold loan, etc., are the types of loans offered to customers. Along with this, health insurance, vehicle insurance, term insurance, travel insurance, property insurance, etc., are the insurance types offered by insurance companies. Companies and firms can make use of lead generation software and services for approaching relevant customers with high conversion probability. The lead generation software and services help in collecting and generating leads based on parameters such as past loan history, credit score, salary, income, and assets. Based on various statistics and figures, companies can structure innovative plans and schemes for respective new segment of customers. For example, Hubspot’s Marketing Software helps in running successful campaigns, converting visitors to customers, and attracting only potential leads, thereby saving time wasted on every single visitor. So the growing use of lead generations solutions in finance and insurance sector is expected to drive the APAC lead generation solution market.
In case of COVID-19, APAC is highly affected especially India. APAC experienced a notable decline in several economic activities as the government authorities imposed strict lockdowns, travel bans, and business shutdown. Many countries in Asia are in a developing state. Owing to layoffs and salary cuts, buying capacity of majority of consumers was affected drastically. Expenditure on nonessentials was avoided as much as possible. Reduced purchasing power resulted in weak demand from various sectors. Many small and medium sized enterprises (SMEs) were closed permanently. Automobiles, restaurants, transport, and textile are some of worst-affected businesses in the APAC region. Thus, lead generation solution companies serving the mentioned businesses suffered negatively owing to lesser demand. Since schools and colleges were closed, scope for online education has grown to a large extent. In order to avoid infection and adhere to several precautionary measures, schools, colleges, and coaching institutes continued their schedule from remote places, wherever possible. Also, online platforms offering coding classes for young children grew to unimaginable extent. WhiteHat Jr., an online platform for coding, witnessed a monthly growth of 100% since the imposition of lockdown. Health insurance providers experienced a remarkable rise in the count of medical insurance related enquiries with 30–40% more clients looking for cover against the deadly virus. Lead generation software and services catering to education and health insurance sector saw considerable demand even during the lockdown.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC lead generation solution market. The APAC lead generation solution market is expected to grow at a good CAGR during the forecast period.
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APAC Lead Generation Solution Market Segmentation
APAC Lead Generation Solution Market – By Offering
- Software
- Services
APAC Lead Generation Solution Market – By Enterprise Size
- SMEs
- Large Enterprises
APAC Lead Generation Solution Market, by Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of APAC
APAC Lead Generation Solution Market -Companies Mentioned
- agilecrm.com
- Bitrix, Inc.
- callboxinc.com
- Cience Technologies
- HubSpot, Inc.
- TechTarget
Asia Pacific Lead Generation Solution Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 743.29 Million |
| Market Size by 2028 | US$ 2,436.54 Million |
| CAGR (2021 - 2028) | 18.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Regional, Country
- Industry and Competitive Landscape
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