Report : Asia-Pacific Consumer Video Feedback Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (Cloud and On Premise) and End User (FMCG, BFSI, Electronics, IT and Telecom, Retail, Hospitality, and Other End Users)
Cloud Segment to Dominate APAC Consumer Video Feedback Software Market during 2020–2028
According to a new market research study on “APAC Consumer Video Feedback Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and End User,” is expected to reach US$ 698.21 million by 2028 from US$ 368.29 million in 2021. The market is estimated to grow at a CAGR of 9.6% from 2021 to 2028. The report provides trends prevailing in the APAC consumer video feedback software market along with the drivers and restraints pertaining to the market growth. Huge growth potential in small and medium-sized enterprises (SMEs) sector is the major factor driving the growth of the APAC consumer video feedback software market. However, deficiency of adoption in developing countries hinder the growth of APAC consumer video feedback software market.
According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies, including China, India, South Korea, and Vietnam, of the region and these countries have experienced a downward industrial growth during the first two quarters of 2020. Asia Pacific constitutes the world’s two most populated countries—India and China—which are also hubs of key retailers, FMCG, restaurants, malls, and hospitality industry. The disruption in business operations due to the COVID-19 outbreak has affected the supply chains and negatively impacted the development and delivery schedules of various products and services from China and India. Due to limited revenue growth in 2020, several owners of retail stores, malls, restaurants, and hotels, have postponed their plans of implementing consumer video feedback software. However, as COVID-19 recovery rate has begun improving each day, consumer video feedback software is likely to gain traction. Therefore, enterprises are expected to invest in and implement the software in the coming months of 2021, which will, in turn, surge the demand for consumer video feedback software. The impact of COVID-19 pandemic on Asia Pacific’s consumer video feedback software market was marginal in 2020
The APAC consumer video feedback software market is segmented on basis of parameters such as deployment, end users, and country. On basis of deployment, the APAC consumer video feedback software market is categorized as cloud and on-premises. In 2020, the cloud segment held the largest share APAC consumer video feedback software market. Based on end-user, the market is egmented into FMCG, BFSI, electronics, IT and telecom, retail, hospitality, and other end users. In 2020, the retail segment held the largest share APAC consumer video feedback software market. On basis of country, the APAC consumer video feedback software market is categorized as Australia, China, India, Japan, South Korea, The rest of APAC. In 2020, the China held the largest share APAC consumer video feedback software market
FocusVision; Medallia Inc.; Product Peel, Inc.; Qualtrics; Typeform; and Voxpopme; are among the leading companies in the APAC consumer video feedback software 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, Qualtrics and Genesys Form New Partnership to Help Companies Deliver World-Class Customer Service Experiences.
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