Middle East and Africa Social Employee Recognition System Market

Market Introduction

This research report on the “Social Employee Recognition System Market” provides a holistic view of the regional market size across major countries. The report further elucidates the key driving factors, restraints, growth opportunities, and future trends pertaining to the market growth.

 Thus, the growing trend of digital workplace transformation are expected to create a significant demand for social employee recognition system in the coming years, which is further anticipated to drive the social employee recognition system market.

Iran has faced the highest number of COVID-19 confirmed cases. Other major countries that are facing the economic impact of COVID-19 include Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. The region comprises many growing economies such as UAE, among others, which are prospective markets for social employee recognition system providers, owing to the huge presence of diverse customer base for the several industries. Currently, the Gulf countries are on the verge of adopting transformative digital technologies in various verticals in a bid to improve the socioeconomic conditions of the countries. However, due to the outbreak, the implementation of stringent measures such as lockdowns, business shutdowns, and travel bans are aggravating the economic problems of the countries in the MEA region. Hence, the estimated decline in MEA’s economic condition and impact of COVID-19 on the growth of various industries in the region is expected to moderately impact the growth of the social employee recognition system market in 2020.

Market Overview and Dynamics

The social employee recognition system market in Middle East and Africa is expected to grow from US$ 381.8 million in 2021 to US$ 804.0 million by 2028; it is estimated to grow at a CAGR of 11.2% from 2021 to 2028. Owing to the fact that modern workforce demands motivation in a modern way, social recognition platforms help reinforce professional relationships in both SMEs and large enterprises. With solutions such as social employee recognition platforms, industry verticals such as IT & telecom, manufacturing, retail, and healthcare can strengthen employee–employer bond. Also, the platform helps in optimizing reward costs as per the available budget. Thus, all the benefits offered by employee recognition platforms are driving the growth of market at a regional level.

Key Market Segments

In terms of component, the platform segment accounted for the largest share of the Middle East and Africa social employee recognition system market in 2020. In terms of deployment model, the cloud segment accounted for the largest share of the Middle East and Africa social employee recognition system market in 2020. In terms of reward type, the gift cards segment accounted for the largest share of the Middle East and Africa social employee recognition system market in 2020. In terms of industry, the retail segment accounted for the largest share of the Middle East and Africa social employee recognition system market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the social employee recognition system market in Middle East and Africa are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BI Worldwide, Globoforce Limited (Workhuman), Kudos Inc., Terryberry, and Semos Cloud.

Reasons to buy report

• To understand the Middle East and Africa Social employee recognition system 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 Middle East and Africa Social employee recognition system market
• Efficiently plan M&A and partnership deals in Middle East and Africa Social employee recognition system 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 Middle East and Africa Social employee recognition system market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Middle East and Africa region.

Middle East and Africa Social Employee Recognition System Market Segmentation        

By Component

• Platform
• Services

By Deployment Model

• Cloud
• On-Premise

By Reward Type

• Gift Cards
• Prepaid Cards
• Incentive Travel
• Others

By Industry

• Retail
• IT and Telecom
• Healthcare
• Media and Entertainment
• Travel and Hospitality
• Manufacturing
• Others

By Country

• Middle East and Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of Middle East and Africa

Companies Mentioned

1. BI Worldwide
2. Globoforce Limited (Workhuman)
3. Kudos Inc.
4. Terryberry
5. Semos Cloud

Middle East and Africa Social Employee Recognition System Market Strategic Insights

Middle East and Africa Social Employee Recognition System Market Segmentation Analysis

Middle East and Africa Social Employee Recognition System Market Report Highlights

Middle East and Africa Social Employee Recognition System Report Scope

Middle East and Africa Social Employee Recognition System Market Country and Regional Insights