Asia Pacific Product Analytics Market Overview and Growth by 2028

The product analytics market in APAC is expected to grow from US$ 1,870.59 million in 2021 to US$ 6,311.93 million by 2028; it is estimated to grow at a CAGR of 19.7% from 2021 to 2028.

Data management and analytics technologies are becoming essential in coping with the current disruption and ushering in the new normal. The data on the COVID-19 status of each country and region is publicly available. Even municipal-level data can be found on the internet. Product analytics may link this data with supply chain information to identify risk areas and estimate a region's duration to resume normal operations.

By monitoring the liquidity status of client companies through a real-time cash liquidity view, all of this data can assist financial institutions in minimizing risks. Companies in the energy business can use IoT to monitor equipment remotely and give data for preventative and predictive maintenance, eliminating the need for staff to travel to remote areas. More enterprises are going to the cloud in the post-COVID-19 era to maximize insights from data and big data analytics, which has become a requirement for businesses. In the coming years, product analytics is expected to play a significant role in business development as it allows companies to correlate more data, such as government health data, to predict the demand.

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.      

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 product analytics market. The APAC product analytics market is expected to grow at a good CAGR during the forecast period.

APAC Product AnalyticsMarket Revenue and Forecast to 2028 (US$ Million)

APAC Product Analytics Market Segmentation

APAC Product Analytics Market – By Component

• Solution
• Services

APAC Product Analytics Market – By Deployment

• On Premise
• Cloud-based

APAC Product Analytics Market – By Mode

• Tracking Data
• Analyzing Data

APAC Product Analytics Market – By Vertical

• Retail and Consumer Goods
• Food and Beverages
• Healthcare and Pharmaceuticals
• Energy and Utilities
• Automotive
• Manufacturing
• Others

APAC Product Analytics Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Product Analytics Market - Companies Mentioned

• Amplitude, Inc.
• Gainsight
• IBM Corporation
• Mixpanel
• Pendo.io, Inc.

Asia Pacific Product Analytics Report Scope