Report : Middle East & Africa Revenue Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Deployment (Cloud Based and On-Premise), and Verticals (IT and Telecom, Hospitality, Travel and Tourism, Retail and Ecommerce, Banking, Healthcare, Insurance, Media and Entertainment, and Others)
At 11.4% CAGR, the Middle East & Africa Revenue Management System Market is speculated to be worth US$ 2,373.43 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa revenue management system market was valued at US$ 1,241.61 million in 2022 and is expected to reach US$ 2,373.43 million by 2028, registering a CAGR of 11.4% from 2022 to 2028. Growing Need for Competitive Pricing Strategies are the critical factors attributed to the Middle East & Africa revenue management system market expansion.
Pricing is an important factor that affects business growth, and competitive pricing strategies help maximize margins and prevent revenue losses. Competitive pricing is typically used by businesses that sell identical or highly similar products in the same market for an extended period, as prices of these products often reach a level of equilibrium. In addition, implementing pricing strategies with the help of a revenue management system supports long-term decisions based on dynamic competitor data. If prices for goods or services are lower than the company’s competitors, they can be increased while remaining competitive and boosting profit margins. A business differentiates from its competition if it considers specific product attributes such as different packaging and additional accessories that increase customer’s willingness to pay. Implementing a successful competitive pricing strategy enables a streamlined method to collect and analyze data from the competition and related niche markets. Revenue management systems help optimize prices, streamline workflows, and focus on making strategic pricing decisions instead of manually collecting and analyzing information. As a result, the rising need for competitive pricing strategies across several businesses is boosting the demand for revenue management systems, which is driving the Middle East & Africa revenue management system market.
On the contrary, incompatibility issues with infrastructure hampers the Middle East & Africa revenue management system market.
Based on component, the Middle East & Africa revenue management system market is segmented into solution, and services. The solution segment held 76.4% share of Middle East & Africa revenue management system market in 2022, amassing US$ 948.92 million. It is projected to garner US$ 1,845.78 million by 2028 to expand at 11.7% CAGR during 2022–2028.
Based on deployment, the Middle East & Africa revenue management system market is segmented into cloud based and on-premise. The cloud based segment held 72.4% share of Middle East & Africa revenue management system market in 2022, amassing US$ 899.22 million. It is projected to garner US$ 1,754.93 million by 2028 to expand at 11.8% CAGR during 2022–2028.
Based on verticals, the Middle East & Africa revenue management system market is segmented into IT and telecom, hospitality, travel and tourism, retail and ecommerce, banking, healthcare, insurance, media and entertainment, and others. The hospitality segment held 29.8% share of Middle East & Africa revenue management system market in 2022, amassing US$ 369.88 million. It is projected to garner US$ 765.01 million by 2028 to expand at 12.9% CAGR during 2022–2028.
Based on country, the Middle East & Africa revenue management system market has been categorized into the UAE, Saudi Arabia, South Africa, Rest of GCC, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 47.1% share of Middle East & Africa revenue management system market in 2022. It was assessed at US$ 585.40 million in 2022 and is likely to hit US$ 1,196.93 million by 2028, exhibiting a CAGR of 12.7% during the forecast period.
Key players dominating the Middle East & Africa revenue management system market are Accelya Solutions India Ltd; Amdocs Ltd; Cerillion Plc; CSG Systems International Inc; Telefonaktiebolaget LM Ericsson; Netcracker Technology Corp; Optiva Inc; Oracle Corp; SAP SE; and Sage Group Plc, among others.
- In 2021; CSG Systems International, Inc. acquired DGIT Systems for better pricing and quote management for complex products and services, including live pricing, pricing policies, discounts, and workflow-driven approval processes.
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