Middle East and Africa 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)

TIPRE00025446 | Pages: 112 | Technology, Media and Telecommunications | Oct 2021 | Type: Regional | Status: Published

Market Introduction

The MEA specification management software market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. With the rise in digitalization in the region and the adoption of advanced and automated solutions across the MEA economy, the demand for specification management solutions across the FMCG and pharma industries has surged over the years. The pharmaceutical industry in the UAE is experiencing growth owing to government support through incentive schemes for increasing domestic production, a brand-friendly environment, and rising health care needs. Several new pharmaceutical plants are being launched in the country over the last decade. A few major pharma companies across the region include Pfizer, Sanofi, Novartis, Tabuk, and SPIMACO. Thus, owing to the rapid growth of the pharmaceutical industry across the MEA is expected to influence the growth of the specification management software market over the years. The food and beverage sector of the region has experienced a rise in revenues over the years. A few major reasons for the growth of the sector are increasing population, high GDP per capita, and rising tourist arrivals across the region. According to Euromonitor 2018, fresh food and packaged food sales in the UAE totaled US$ 8 billion and US$ 5.5 billion, respectively. Thus, this rise in demand for packaged food due to consumers’ convenience across the region is influencing the manufacturing of such items, which is contributing to the growth of the specification management software market.

In case of COVID-19, MEA is highly affected especially South Africa followed by Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. Saudi Arabia's economy shrank by 7% in the second quarter, indicating how hard the latest coronavirus struck both the oil and non-oil industries, and unemployment reached a new high of 15.4%. The sudden spread of the pandemic resulted to a standstill in the economy and declined the technological investments of the companies across the region, thereby leaving a negative impact on the adoption of specification management software. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors including food & beverage, retail, and pharmaceutical. The COVID-19 outbreak has highly disrupted the supply and demand gap in the adoption of specification management software in MEA countries. Thus, the above-mentioned factors expected to contribute to the high adoption of specification management software, thereby positively impacting the market growth.


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Market Overview and Dynamics

The MEA specification management software market is expected to grow from US$ 37.67 million in 2021 to US$ 63.80 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. Escalating FMCG sector across the region is expected to fuel the MEA specification management software market. The fast-moving consumer goods (FMCG) sector is under continuous pressure of launching newer products. All product launch experiences product development cycle to provide each project in a specified time frame. The FMCG sector is constantly experiencing healthy growth, which is mainly ascribed to the adoption of smart retailing. The smart retailing concept compels retailers to continuously focus on fulfilling continuously evolving consumer requirements as well as on providing an enhanced and convenient shopping experience to the consumers. In the consumer goods industry, specification management software is deployed in processes such as raw material management, packaging, and product detail documentation. Packaging holds utmost importance as it is the first aspect consumers observe and touch. Furthermore, the quality of the product continues to be the main concern for consumers. Thus, the companies, especially in the consumer goods industry, continuously focus on delivering standard-quality products in a timely and hassle-free manner. The consequent requirement of upgrading the processes, services, and outcomes requires technology intervention, which is boosting the adoption of specification management software. As a result, the adoption of specification management software for document management, packaging management, and artwork management is on the rise in the FMCG sector, thereby driving the MEA market growth.

Key Market Segments

In terms of type, the cloud-based segment accounted for the largest share of the MEA specification management software market in 2020. In terms of end-use industry, the FMCG segment held a larger market share of the MEA specification management software market in 2020. Further, the packaging management segment held a larger share of the MEA 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 MEA 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 MEA 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 MEA specification management software market
  • Efficiently plan M&A and partnership deals in MEA 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 MEA specification management software market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region

MEA Specification Management Software Market Segmentation

MEA Specification Management Software Market - By Type

  • Cloud-Based 
  • On-Premises

MEA Specification Management Software Market - By End-Use Industry

  • FMCG
  • Pharmaceutical
  • Others

MEA Specification Management Software Market - By Application

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

MEA Specification Management Software Market - By Country

  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA   

MEA Specification Management Software Market - Company Profiles

  • Accompa, Inc. 
  • DocXellent
  • Emerson Electric Co.
  • Esko-Graphics BV.
  • Isolocity
  • Lascom
  • PiLog Group
  • QADEX
  • SAP SE
  • Siemens AG

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.           MEA Specification Management Software Market Landscape

4.1         Market Overview

4.2         MEA PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           MEA Specification Management Software Market – Key Industry Dynamics

5.1         Market Drivers

5.1.1        Surging Production of Pharmaceutical Products

5.1.2        Escalating FMCG Sector across the Region

5.2         Market Restraint

5.2.1        Obstacles Related to Cost and Security

5.3         Market Opportunities

5.3.1        Burgeoning Popularity of Cloud-based Specification Management Platforms

5.4         Future Trends

5.4.1        Integration with Advanced and Sophisticated Technologies

5.5         Impact Analysis of Drivers and Restraints

6.           Specification Management Software Market – MEA Analysis

6.1         MEA Specification Management Software Market Overview

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

7.           MEA Specification Management Software Market Analysis – By Type

7.1         Overview

7.2         MEA 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.           MEA Specification Management Software Market Analysis – By End-Use Industry

8.1         Overview

8.2         MEA 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.           MEA Specification Management Software Market Analysis – By Application

9.1         Overview

9.2         MEA 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.        MEA Specification Management Software Market – Country Analysis

10.1      Overview

10.1.1     MEA Specification Management Software Market Breakdown, By Country

10.1.1.1       Saudi Arabia Specification Management Software Market, Revenue and Forecast to 2028 (USD Mn)

10.1.1.1.1       Saudi Arabia Specification Management Software Market Breakdown, by Type

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

10.1.1.1.3       Saudi Arabia Specification Management Software Market Breakdown, by Application

10.1.1.2       UAE Specification Management Software Market, Revenue and Forecast to 2028 (USD Mn)

10.1.1.2.1       UAE Specification Management Software Market Breakdown, by Type

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

10.1.1.2.3       UAE Specification Management Software Market Breakdown, by Application

10.1.1.3       South Africa Specification Management Software Market, Revenue and Forecast to 2028 (USD Mn)

10.1.1.3.1       South Africa Specification Management Software Market Breakdown, by Type

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

10.1.1.3.3       South Africa Specification Management Software Market Breakdown, by Application

10.1.1.4       Rest of MEA Specification Management Software Market, Revenue and Forecast to 2028 (USD Mn)

10.1.1.4.1       Rest of MEA Specification Management Software Market Breakdown, by Type

10.1.1.4.2       Rest of MEA Specification Management Software Market Breakdown, by End-Use Industry

10.1.1.4.3       Rest of MEA Specification Management Software Market Breakdown, by Application

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

11.1      MEA: 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.             MEA Specification Management Software Market – Revenue and Forecast to 2028 (USD Million)

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 15.          List of Abbreviation

LIST OF FIGURES

Figure 1.           MEA Specification Management Software Market Segmentation

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

Figure 3.           MEA 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.           The UAE held Largest Market Share in 2020

Figure 8.           MEA: PEST Analysis

Figure 9.           Expert Opinion

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Figure 26.        MEA Specification Management Software Market Breakdown, By Country, 2020 & 2028 (%)

Figure 27.        Saudi Arabia Specification Management Software Market, Revenue and Forecast To 2028 (USD Mn)

Figure 28.        UAE Specification Management Software Market, Revenue and Forecast To 2028 (USD Mn)

Figure 29.        South Africa Specification Management Software Market, Revenue and Forecast To 2028 (USD Mn)

Figure 30.        Rest of MEA Specification Management Software Market, Revenue and Forecast To 2028 (USD Mn)

Figure 31.        Impact of COVID-19 Pandemic in MEA Country Markets

  1. Accompa, Inc.
  2. DocXellent
  3. Emerson Electric Co.
  4. Esko-Graphics BV.
  5. Isolocity 
  6. Lascom
  7. PiLog Group    
  8. QADEX
  9. SAP SE
  10. Siemens AG
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA specification management software market.         
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the MEA specification management software market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the specification management software market, as well as those hindering it   
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution     
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