Report : Asia Pacific Artwork Management Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On-premise and Cloud) and Application (Life Sciences, Retail, Manufacturing, and Others)
Life Sciences segment to Dominate the Asia Pacific Artwork Management Software Market during 2020–2028
According to a new market research study on “Asia Pacific Artwork Management Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Application,” is expected to reach US$ 171.49 million by 2028 from US$ 85.93 million in 2021. The market is estimated to grow at a CAGR of 10.4% from 2021 to 2028. The report provides trends prevailing in the asia pacific artwork management software market along with the drivers and restraints pertaining to the market growth. Acceptance of cloud-based artwork management platform, emersion of new and sophisticated technologies, and expanding pharmaceutical and life science business are the major factor driving the growth of the artwork management software market. However, general artwork management challenges hinder the growth of artwork management software market.
The Asia Pacific region is greatly affected by COVID-19, the country homes the largest population across the world, thereby imposing greater risk of a large number of individuals; it is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as the large India, Australia, and Japan, and is experiencing downward inflation. China is one of the leading manufacturing countries in the region, and initially, the most affected country in APAC, owing to this, the manufacturing facilities have been witnessing severe conditions in its manufacturing sufficient volumes of products. In addition, the artwork management tool market in APAC is dominated by China since the country has a significantly higher number of manufacturers. The fewer workforce in each of the production facilities has resulted in limited production, thereby leading the manufacturers to witness the loss. Nevertheless, since May 2020, the Chinese manufacturing facilities have started operating with higher manpower, which begun showcasing a positive trend in the artwork management tool market in China. Japan and India are the other two critical countries in the artwork management tool market. As China, Japan, Taiwan, and South Korea are known for having strong base of manufacturing units, the penetration of artwork management tool has declined due to temporary closure of manufacturing plants. However, with business getting resumed, the scope of the same will expand gradually.
Asia Pacific artwork management software market is segmented based on deployment and application. The Asia Pacific artwork management software market based on deployment is segmented into On-premise and cloud. On-premise segment accounted for the highest share in the market in 2020 and cloud segment is expected to be fastest growing during forecast period. Based on application, is segmented into life sciences, retail, manufacturing, and others. The life sciences segment accounted for the highest share in 2020 and retail segment is expected to be the fastest growing during forecast period. enLabel Global Services; Karomi Inc.; Loftware, Inc.; Perigord Life Science Solutions; Freyr; Esko-Graphics BV.; Twona; GreatFour Systems; Kallik; and Lascom are among some of the leading companies in the Asia Pacific artwork management software market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive artwork Management Software Market. For instance, Perigord has developed a new product that is independent packaging & labelling services. It performs the full range of inspection tasks required by a Life Sciences company when bringing a product to market.
The report segments the Asia Pacific Artwork Management Software Market as follows:
Asia Pacific Artwork Management Software Market – By Deployment
Asia Pacific Artwork Management Software Market – By Application
- Life Sciences
Asia Pacific Artwork Management Software Market – By Country
- South Korea
- Rest of Asia-Pacific
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