Middle East and Africa Specification Management Software Market Dynamics and Trends by 2028

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.

The UAE, Saudi Arabia, and South Africa are major economies in MEA. Integration with advanced and sophisticated technologies is expected to catalyze the MEA specification management software market. 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 MEA market in the forecast years. 

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.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA specification management software market. The MEA specification management software market is expected to grow at a good CAGR during the forecast period.

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 - Companies Mentioned

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

Middle East and Africa Specification Management Software Report Scope