Asia Pacific Retail Execution Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Enterprise Size ; Application

Asia Pacific Retail Execution Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Enterprise Size ; Application

  • March 2021 •
  • 97 pages •
  • Report ID: 6064926 •
  • Format: PDF
The retail execution software market in Asia-Pacific is expected to grow from US$ 50.14 million in 2019 to US$ 90.49 million by 2027; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. In the retail industry, several challenges occur due to imbalance between demand and resource availability, as well as inadequate area mapping. Machine learning, an application of artificial intelligence, is the foundation of the next generation of technologies. It offers systems the ability to learn from recorded data and experiences with the use of algorithms, patterns, and predictive insights. Moreover, with the capabilities of machine learning, online retailers can swiftly acknowledge and identify customers who have been disconnected from their services. Additionally, retailers can ensure customer retention by reminding customers to reorder perishable products or sharing exclusive deals. The on-demand retail industry continues to grow, with technology playing a major role in automating services to ensure better customer experience. By utilizing the advantages of machine learning, vendors in the market can automate and streamline the retail execution process. Thus, this trend is projected to boost the demand for APAC retail execution software during the forecast period. Additionally, the adoption of big data analytics technology in the retail Industry is among the other factors expected to fuel the demand for retail execution software in APAC.

Based on enterprise size, the SMEs segment is expected to be fastest growing segment of the retail execution software market during the forecast period.The retail & e-commerce industry provides a huge platform for shopping.

It is increasing at an unprecedented rate across APAC.Retail and e-commerce platforms also help various businesses to reach their customers easily; hence, necessary exposure to business is achieved.

Growing retail and e-commerce industries in APAC are thriving in the business for retail execution software.The retail execution software is used for planning, managing, and monitoring the in-store activities in the consumer packaged goods (CPG) industry—such as retail operations, field sales, trade promotion management, field service management, mobile forms automation, and employee engagement.

This software facilitates to enhance the collaboration between CPG companies and retailers to increase profits and optimize in-store sales. This factor is scaling up the retail execution software market size year-on-year.

The COVID-19 outbreak has negatively affected the APAC region.APAC is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rise in disposable income.

All these factors make APAC a major driving region for various markets, including retail execution software.A large number of smartphone users, online shoppers, and the growing e-commerce sector in this region present a huge opportunity for the growth of the global retail execution software market.

Due to the pandemic, social distancing and staying home have pushed the consumers toward online shopping.Nevertheless, uncertain consumer demand and supply chain problems have affected the e-commerce industry in the region.

The e-commerce industry includes healthcare, beauty & personal care, and electronics. The coronavirus outbreak had an impact on these industries owing to the uncertainty in the supply chain and consumer demand. The e-commerce supply chains are mainly strained by the pandemic and factory closures in China. The lockdown of various factories in China is affecting the global supply chains and negatively impacting manufacturing, retail execution schedules, and sales of various products and services. China has recently emerged from a 2-month containment phase and moved into the mitigation stage; however, the economic growth is still declining due to uncertainty around the COVID-19 outbreak. The governments are taking drastic measures to reduce the effects of coronavirus outbreak by announcing lockdowns, travel bans, and trade bans. All these measures are expected to have a negative impact on the adoption and growth of retail execution software, especially in the logistics and e-commerce sector in 2020 and 2021.

The overall APAC retail execution software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the APAC retail execution software market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC retail execution software market. Bizom (Mobisy Technologies Private Limited), EdgeCG (StayinFront, Inc.), Trax Technology Solutions Pte Ltd., WINIT, and XTEL (Kantar Group) are among the key players operating in the APAC retail execution software market.

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