At 7.2% CAGR, Middle East & Africa Trade Promotion Management Software Market is Projected to be Worth US$ 112.55 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa trade promotion management software market was valued at US$ 64.75 million in 2022 and is expected to reach US$ 112.55 million by 2030, registering a CAGR of 7.2% from 2022 to 2030. Use of advanced analytics for trade promotion management, growing need for software solutions and digitalization of trade promotion operations      are among the critical factors attributed to the Middle East & Africa trade promotion management software market expansion.   

Technological advancements in data and analytics have restructured consumer goods and fast-moving consumer goods companies in recent years. Technological developments such as linking trade promotion to advanced analytics can help in making the future of trade promotions more efficient and effective. Consumer goods packaged companies are using advanced analytics while conducting trade promotion management activities. Through advanced analytics, consumer goods companies obtain much more granular information, generating insight related to shoppers and their consumer behaviors. By utilizing analytics, these companies can drive better returns on promotional investment and customizing investment to line up with overarching strategic goals. Additionally, retailers are highly aware of the benefits provided by trade promotion management as they increase their operating margins by 60% by using efficient promotion strategies and analytics.

With constant improvements, the adoption of trade promotion optimization is also rising. Moreover, the presence of companies offering analytics solutions to make trade promotion management efficient is making a positive contribution toward the market growth. For instance, Neal Analytics is a provider of trade promotion optimization solutions that assist businesses in creating a sales baseline for determining in-around of sales and calculating historical promotion redemption rate, volume uplift, and ROI by utilizing sell-through data and cost factors. Thus, the use of advanced analytics for trade promotion management is anticipated to fuel the market growth in the coming years.

On the contrary, preference for spreadsheet and sell-out based payments hampers the growth of growth of Middle East & Africa trade promotion management software market.

Based on component, the Middle East & Africa trade promotion management software market is bifurcated into solution and services. The solution segment held 91.1% share of Middle East & Africa trade promotion management software market in 2022, amassing US$ 58.97 million. It is projected to garner US$ 103.17 million by 2030 to expand at 7.2% CAGR during 2022–2030.

In terms of deployment type, the Middle East & Africa trade promotion management software market is bifurcated into cloud and on-premise. The cloud segment held 69.0% share of Middle East & Africa trade promotion management software market in 2022, amassing US$ 44.70 million. It is projected to garner US$ 81.64 million by 2030 to expand at 7.8% CAGR during 2022–2030.

Based on application, the Middle East & Africa trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held 61.5% share of Middle East & Africa trade promotion management software market in 2022, amassing US$ 39.81 million. It is projected to garner US$ 65.50 million by 2030 to expand at 6.4% CAGR during 2022–2030.

In terms of industry vertical, the Middle East & Africa trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, IT and services, manufacturing, and others. The retail & consumer goods segment held 71.9% share of Middle East & Africa trade promotion management software market in 2022, amassing US$ 46.56 million. It is projected to garner US$ 83.45 million by 2030 to expand at 7.6% CAGR during 2022–2030.

By country, the Middle East & Africa trade promotion management software market has been categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 42.1% share of Middle East & Africa trade promotion management software market in 2022. It was assessed at US$ 27.27 million in 2022 and is likely to hit US$ 52.29 million by 2030, exhibiting a CAGR of 8.5% during 2022–2030.  

Key players operating in the Middle East & Africa trade promotion management software market are Wipro Ltd; TELUS; o9 Solutions, Inc.; Oracle Corp; SAP SE; and Aforza Inc, among others.

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