At 11.2% CAGR, Asia Pacific Trade Promotion Management Software Market is Projected to be Worth US$ 766.65 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific trade promotion management software market was valued at US$ 327.60 million in 2022 and is expected to reach US$ 766.65 million by 2030, registering a CAGR of 11.2% from 2022 to 2030. Focus on online promotions, growing need for software solutions and digitalization of trade promotion operations are among the critical factors attributed to the Asia Pacific trade promotion management software market expansion.

The category of users is widespread and is playing a huge role in impacting the growth of industries such as retail, consumer goods, IT, and healthcare. Pertaining to the fact that Generation X and Millennials generation account for ~35– 40% of the global population, retailers and consumer goods manufacturers are offering these generations more choices and lower prices. Hence, the leading and well-established retailers and manufacturers are working on new promotional activities to retain customers from these generations. Loyalty programs, discounts, and traditional and social ads are a few of the techniques used by companies to maintain their customer base. As a result, consumer goods and other industries should spend on trade promotion tools to keep retailers and manufacturers earning more revenue. This use of trade promotion management solutions can create demand for software to keep them running efficiently. Moreover, the trend of e-commerce is prevailing heavily and gaining high momentum among diversified industries. Gen X spends more time on online websites and tends to be loyal customers. This factor encourages the companies to put additional emphasis on marketing and trade promotion, which is another factor encouraging consumer goods, retailers, and other sectors to invest substantially in trade promotion activities. Due to the above-mentioned factors, the companies have an opportunity to target this generation for online promotions. To manage the promotions, the need for trade promotion management solutions will rise, which is anticipated to create numerous opportunities for the trade promotion management software market growth in the coming years.

On the contrary, preference for spreadsheet and sell-out-based payments hampers the growth of Asia Pacific trade promotion management software market.

Based on component, the Asia Pacific trade promotion management software market is bifurcated into solution and services. The solution segment held 87.7% share of Asia Pacific trade promotion management software market in 2022, amassing US$ 287.22 million. It is projected to garner US$ 678.92 million by 2030 to expand at 11.4% CAGR during 2022–2030.

In terms of deployment type, the Asia Pacific trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held 71.7% share of Asia Pacific trade promotion management software market in 2022, amassing US$ 234.99 million. It is projected to garner US$ 574.73 million by 2030 to expand at 11.8% CAGR during 2022–2030.

Based on application, the Asia Pacific trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held 65.2% share of Asia Pacific trade promotion management software market in 2022, amassing US$ 213.45 million. It is projected to garner US$ 477.58 million by 2030 to expand at 10.6% CAGR during 2022–2030.

In terms of industry vertical, the Asia Pacific trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, IT and services, manufacturing, and others. The retail & consumer goods segment held 66.6% share of Asia Pacific trade promotion management software market in 2022, amassing US$ 218.29 million. It is projected to garner US$ 531.27 million by 2030 to expand at 11.8% CAGR during 2022–2030.

By country, the Asia Pacific trade promotion management software market has been categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.5% share of Asia Pacific trade promotion management software market in 2022. It was assessed at US$ 109.75 million in 2022 and is likely to hit US$ 253.83 million by 2030, exhibiting a CAGR of 11.1% during 2022–2030.

Key players operating in the Asia Pacific trade promotion management software market are Wipro Ltd; Aera Technology; TELUS; o9 Solutions, Inc.; Oracle Corp; SAP SE; UpClear; and Anaplan Inc; among others.

• In March 2022, Aera Technology announced the debut of Aera Decision Cloud — the next evolution of its open platform to digitize, augment, and automate decisions. The news underscores the company's momentum, enabling business agility by transforming decision-making.
• In May 2021, this paves the way for the development of next generation connected IoT solutions that mimic real-world scenarios. The Aera Cognitive Operating System is a cloud platform that can transform massive volumes of transactional data that are generated every second into optimal decisions that can be deployed across the organization automatically.
• In February 2021, Kearney's Sense and Pivot supply chain management system will be incorporated into Aera Technology's cloud-based Cognitive Operating SystemTM as part of the agreement, enhancing the speed and agility of supply chain decision-making.

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