Europe Specification Management Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cloud-Based and On-Premises), End-Use Industry (FMCG, Pharmaceutical, and Others), and Application (Raw Materials Management, Formula and Ingredients Management, Packaging Management, Document Management, and Others)

Market Introduction

The specification management software market in Europe comprises France, Germany, Italy, the UK, Russia, and the Rest of Europe. The European market, which has more than 40 countries, is extremely diversified. Western European countries are most advanced than the NORDIC and other East European countries. As a result, there have been significant advancements in the use of modern technologies in Western Europe. On the other hand, economically strong European countries, such as Germany, Italy, and the UK, have witnessed significant growth in the implementation of advanced automated solutions across all markets. Moreover, the fast-moving consumer goods and pharmaceutical industries are among the major industries in this region. Automation in these industries helps reduce the risk of contamination risk which proves to be beneficial to both customers and manufacturers. The region witnesses a significant trade surplus in the food and beverage trade. According to European Union, food and beverage exports in the EU have increased in the last decade (2010–2020), accounting for more than EURO 90 billion and contributing to a EUR 30 billion positive balance. Furthermore, EU food legislation is extensively standardized, and it greatly benefits from the EU single market's opportunities. The specification management software market has plenty of prospects in the highly regulated food & beverage industry.

In case of COVID-19, Europe is highly affected specially France and Russia. In Europe, the COVID-19 pandemic has a different impact on different countries, as only selective countries have witnessed the rise in the number of cases and subsequently attracted strict, as well as prolonged, lockdown periods or social isolation norms. However, Western European countries have seen a comparatively modest decrease in their growth activities because of the robust healthcare systems. The sudden outbreak of the COVID-19 pandemic across the region has not only led to the standstill of business operations but have also led to the closure of several small and medium enterprises across the region. In the initial three to four months of 2020, the region has experienced a dip in technological investments across the country. However, the region rapidly adopted remote working culture thereby utilizing digital platform for business operations. The UK’s logistics and transportation sector are widely spread and handles significantly higher volumes of food & beverage, pharmaceuticals & chemicals. Attributing to the rise in the number of COVID-19 infected patients, the British government-imposed lockdown measures with an aim to contain the spread of the virus. This has risen the adoption of specification management software to move higher volumes of produced pharmaceuticals from the production units to warehouses. Pertaining to the fact that Germany, Denmark, the Netherlands, Switzerland, and Italy are fastest-growing exporters of medicines and drugs, the scope of specification management software among pharma business in mentioned countries will continue to rise.

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Market Overview and Dynamics

The Europe specification management software market is expected to grow from US$ 112.86 million in 2021 to US$ 208.42 million by 2028; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028. The trend of using advanced technologies is prevailing across the region. Due to rising business activities in pharmaceutical, food & beverages, consumer goods, and manufacturing industries, the adoption of advanced specification management tools is ready to capture the attention of massive end users. Furthermore, it has been observed that more than 75% of enterprises are planning to foster their digital transformation to have business recovery out of 2020. The enterprises are looking forward to adopting collaborative and cost-effective solutions to achieve their pre-determined digital goals. Specification management software permits the end-user to automate the management approval workflow process for business and release complete transparency. Several market players across the region can provide manufacturers of heavily regulated industries, namely: chemicals, MedTech, FMCG, pharmaceuticals, and food & beverages, with the most significant security level and regulatory compliance and the ability to execute new artwork and labeling technologies. The adoption of the platform will allow the end-use industry to future-proof its business operations and to take leverage from the adoption of machine learning and artificial intelligence. Thus, with the advent of such advanced technologies and platforms, the specification management platform penetration is expected to boost among highly regulated industries, thereby increasing the scope of the Europe market in the forecast years.

Key Market Segments

In terms of type, the cloud-based segment accounted for the largest share of the Europe specification management software market in 2020. In terms of end-use industry, the FMCG segment held a larger market share of the Europe specification management software market in 2020. Further, the packaging management segment held a larger share of the Europe specification management software market based on application in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Europe specification management software market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accompa, Inc.; DocXellent; Emerson Electric Co.; Esko-Graphics BV.; Isolocity; Lascom; PiLog Group; QADEX; SAP SE; and Siemens AG.

Reasons to buy report

To understand the Europe specification management software market landscape and identify market segments that are most likely to guarantee a strong return
Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe specification management software market
Efficiently plan M&A and partnership deals in Europe specification management software market by identifying market segments with the most promising probable sales
Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe specification management software market
Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

Europe Specification Management Software Market Segmentation

Europe Specification Management Software Market - By Type

Cloud-Based
On-Premises

Europe Specification Management Software Market - By End-Use Industry

FMCG
Pharmaceutical
Others

Europe Specification Management Software Market - By Application

Raw Materials Management
Formula and Ingredients Management
Packaging Management
Document Management
Others

Europe Specification Management Software Market - By Country

Europe Specification Management Software Market - Company Profiles

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Specification Management Software Market Landscape

4.1 Market Overview

4.2 Europe PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Europe Specification Management Software Market – Key Industry Dynamics

5.1 Market Drivers

5.1.1 Increasing Production of Pharmaceutical Products

5.1.2 Rising FMCG Sector across the Region

5.2 Market Restraint

5.2.1 Issues Related to Security and Cost

5.3 Market Opportunities

5.3.1 Surging Popularity of Cloud-based Specification Management Platforms

5.4 Future Trends

5.4.1 Advent of Advanced and Sophisticated Technologies

5.5 Impact Analysis of Drivers and Restraints

6. Specification Management Software Market – Europe Analysis

6.1 Europe Specification Management Software Market Overview

6.2 Europe Specification Management Software Market –Revenue and Forecast to 2028 (USD Million)

7. Europe Specification Management Software Market Analysis – By Type

7.1 Overview

7.2 Europe Specification Management Software Market Breakdown, by Type, 2020 and 2028

7.3 Cloud-Based

7.3.1 Overview

7.3.2 Cloud-Based: Specification Management Software Market Revenue and Forecast to 2028 (USD Million)

7.4 On-Premises

7.4.1 Overview

7.4.2 On-Premises: Specification Management Software Market Revenue and Forecast to 2028 (USD Million)

8. Europe Specification Management Software Market Analysis – By End-Use Industry

8.1 Overview

8.2 Europe Specification Management Software Market, by End-Use Industry (2020 and 2028)

8.3 FMCG

8.3.1 Overview

8.3.2 FMCG: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

8.4 Pharmaceuticals

8.4.1 Overview

8.4.2 Pharmaceuticals: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

8.5 Others

8.5.1 Overview

8.5.2 Others: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

9. Europe Specification Management Software Market Analysis – By Application

9.1 Overview

9.2 Europe Specification Management Software Market, by Application (2020 and 2028)

9.3 Raw Material Management

9.3.1 Overview

9.3.2 Raw Material Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

9.4 Formula and Ingredients Management

9.4.1 Overview

9.4.2 Formula and Ingredients Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

9.5 Packaging Management

9.5.1 Overview

9.5.2 Packaging Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

9.6 Document Management

9.6.1 Overview

9.6.2 Document Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

9.7 Others

9.7.1 Overview

9.7.2 Others: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

10. Europe Specification Management Software Market – Country Analysis

10.1 Overview

10.1.1 Europe Specification Management Software Market Breakdown, by Country

10.1.1.1 UK Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.1.1 UK Specification Management Software Market Breakdown, by Type

10.1.1.1.2 UK Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.1.3 UK Specification Management Software Market Breakdown, by Application

10.1.1.2 Germany Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.2.1 Germany Specification Management Software Market Breakdown, by Type

10.1.1.2.2 Germany Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.2.3 Germany Specification Management Software Market Breakdown, by Application

10.1.1.3 France Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.3.1 France Specification Management Software Market Breakdown, by Type

10.1.1.3.2 France Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.3.3 France Specification Management Software Market Breakdown, by Application

10.1.1.4 Italy Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.4.1 Italy Specification Management Software Market Breakdown, by Type

10.1.1.4.2 Italy Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.4.3 Italy Specification Management Software Market Breakdown, by Application

10.1.1.5 Russia Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.5.1 Russia Specification Management Software Market Breakdown, by Type

10.1.1.5.2 Russia Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.5.3 Russia Specification Management Software Market Breakdown, by Application

10.1.1.6 Rest of Europe Specification Management Software Market, Revenue and Forecast to 2028

10.1.1.6.1 Rest of Europe Specification Management Software Market Breakdown, by Type

10.1.1.6.2 Rest of Europe Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.6.3 Rest of Europe Specification Management Software Market Breakdown, by Application

11. Impact of COVID-19 Pandemic on Europe Specification Management Software Market

11.1 Europe: Impact Assessment of COVID-19 Pandemic

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

13. Company Profiles

13.1 Accompa, Inc.

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 Esko-Graphics BV.

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Emerson Electric Co.

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 Lascom

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Siemens AG

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 SAP SE

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 DocXellent

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 Isolocity

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 PiLog Group

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

13.10 QADEX

13.10.1 Key Facts

13.10.2 Business Description

13.10.3 Products and Services

13.10.4 Financial Overview

13.10.5 SWOT Analysis

13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners

14.2 Word Index

LIST OF TABLES

Table 1. Europe Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Table 2. Europe Specification Management Software Market, Revenue and Forecast To 2028 – By Country (USD Mn)

Table 3. UK Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 4. UK Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 5. UK Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 6. Germany Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 7. Germany Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 8. Germany Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 9. France Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 10. France Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 11. France Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 12. Italy Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 13. Italy Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 14. Italy Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 15. Russia Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 16. Russia Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 17. Russia Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 18. Rest of Europe Specification Management Software Market, Revenue and Forecast to 2028 – By Type (USD Mn)

Table 19. Rest of Europe Specification Management Software Market, Revenue and Forecast to 2028 – By End-Use Industry (USD Mn)

Table 20. Rest of Europe Specification Management Software Market, Revenue and Forecast to 2028 – By Application (USD Mn)

Table 21. List of Abbreviation

LIST OF FIGURES

Figure 1. Europe Specification Management Software Market Segmentation

Figure 2. Europe Specification Management Software Market Segmentation – By Country

Figure 3. Europe Specification Management Software Market Overview

Figure 4. Cloud-Based Segment held Largest Market Share in 2020

Figure 5. FMCG Segment held Largest Market Share in 2020

Figure 6. Packaging Management Segment held Largest Market Share in 2020

Figure 7. Germany held Largest Market Share in 2020

Figure 8. Europe: PEST Analysis

Figure 9. Expert Opinion

Figure 10. Europe Specification Management Software Market: Impact Analysis of Drivers and Restraints

Figure 11. Europe Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 12. Europe Specification Management Software Market Revenue Share, by Type (2020 and 2028)

Figure 13. Europe Cloud-Based: Specification Management Software Market Revenue and Forecast to 2028 (USD Million)

Figure 14. Europe On-Premises: Specification Management Software Market Revenue and Forecast to 2028 (USD Million)

Figure 15. Europe Specification Management Software Market Revenue Share, by End-Use Industry (2020 and 2028)

Figure 16. Europe FMCG: Specification Management Software – Revenue and Forecast to 2028 (USD Million)

Figure 17. Europe Pharmaceuticals: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 18. Europe Others: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 19. Europe Specification Management Software Market Revenue Share, by Application (2020 and 2028)

Figure 20. Europe Raw Material Management: Specification Management Software – Revenue and Forecast to 2028 (USD Million)

Figure 21. Europe Formula and Ingredients Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 22. Europe Packaging Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 23. Europe Document Management: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 24. Europe Others: Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

Figure 25. Europe: Specification Management Software Market, by Key Country – Revenue (2020) (USD Million)

Figure 26. Europe Specification Management Software Market Breakdown, by Country, 2018 & 2027(%)

Figure 27. UK Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 28. Germany Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 29. France Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 30. Italy Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 31. Russia Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 32. Rest of Europe Specification Management Software Market, Revenue and Forecast, 2018–2028 (USD Mn)

Figure 33. Impact of COVID-19 Pandemic in Europe Country Markets

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