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.
Emergence of bring your own device (BYOD): With rising access to social networking platforms such as Yammar, Convo, and LinkedIn, the use of BYOD is also making its place among enterprises. In the era of constant technological developments, many enterprises are forecasted to broaden their BYOD policies to cater a rising number of employees in the workplace. The growing smartphone and internet users are also having a catalyst impact on the adoption of employee-recognition systems. For instance, Salesforces Inc. in March 2018 had introduced a new software “Essentials” to cater to the requirement of small businesses. The new software is customer service and sales software available to enhance employee satisfaction. Such software will help in raising both performance and productivity. Advanced technologies: A few sophisticated social recognition solutions are coming up in the market by leveraging the latest technologies such as machine learning. Several types of software with new technologies are urging enterprises to provide meaningful and in-depth insights regarding the performance of employees and organizations. It also facilitates recommendations for turnover/income with a few predictive elements.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.
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 social employee recognition system market. The Middle East and Africa social employee recognition system market is expected to grow at a good CAGR during the forecast period.
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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
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Social Employee Recognition System Market – By Component
1.3.2 Social Employee Recognition System Market – By Deployment Model
1.3.3 Social Employee Recognition System Market – By Reward Type
1.3.4 Social Employee Recognition System Market – By Industry
1.3.5 Middle East and Africa Social Employee Recognition System Market – By Country
2. Middle East and Africa Social Employee Recognition System Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East and Africa Social Employee Recognition System Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Social Employee Recognition System Market- Middle East and Africa PEST Analysis
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Middle East and Africa Social Employee Recognition System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Trend of Digital Workplace Transformation
5.1.2 Greater Productivity Through Employee Recognition Platforms
5.2 Market Restraints
5.2.1 Lack of Adoption in SMEs
5.3 Market Opportunities
5.3.1 Fast Adoption of Cloud-Based Solutions Among Enterprises for High Scalability
5.4 Future Trends
5.4.1 Integration of Advanced Technologies
5.5 Impact Analysis
6. Social Employee Recognition System Market – Middle East and Africa Analysis
6.1 Middle East and Africa Social Employee Recognition System Market Revenue Forecasts and Analysis
7. Middle East and Africa Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Component
7.1 Overview
7.2 Social Employee Recognition Systems Market, By Component (2020 And 2028)
7.3 Platform
7.3.1 Overview
7.3.2 Platform: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
8. Middle East and Africa Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Deployment Model
8.1 Overview
8.2 Social Employee Recognition System Market, By Deployment Model (2020 And 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9. Middle East and Africa Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Reward Type
9.1 Overview
9.2 Social Employee Recognition System Market, By Reward Type (2020 and 2028)
9.3 Gift Cards
9.3.1 Overview
9.3.2 Gift Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.4 Prepaid Cards
9.4.1 Overview
9.4.2 Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.5 Incentive Travel
9.5.1 Overview
9.5.2 Incentive Travel: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10. Middle East and Africa Social Employee Recognition System Market Analysis and Forecasts To 2028 –By Industry
10.1 Overview
10.2 Social Employee Recognition System Market, By Industry (2020 and 2028)
10.3 Retail
10.3.1 Overview
10.3.2 Retail: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.4 IT & Telecom
10.4.1 Overview
10.4.2 IT & Telecom: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.5 Healthcare
10.5.1 Overview
10.5.2 Healthcare: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.6 Media & Entertainment
10.6.1 Overview
10.6.2 Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.7 Travel & Hospitality
10.7.1 Overview
10.7.2 Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.8 Manufacturing
10.8.1 Overview
10.8.2 Manufacturing: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.9 Others
10.9.1 Overview
10.9.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
11. Social Employee Recognition System Market Revenue and Forecasts to 2028 – Geographical Analysis
11.1 Middle East and Africa: Social Employee Recognition System Market
11.1.1 Overview
11.1.2 Middle East and Africa: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
11.1.2.1 South Africa: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
11.1.2.1.1 South Africa: Social Employee Recognition System, By Component
11.1.2.1.2 South Africa: Social Employee Recognition System Market, By Deployment Model
11.1.2.1.3 South Africa: Social Employee Recognition System Market, By Reward Type
11.1.2.1.4 South Africa: Social Employee Recognition System Market, By Industry
11.1.2.2 UAE: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
11.1.2.2.1 UAE: Social Employee Recognition System, By Component
11.1.2.2.2 UAE: Social Employee Recognition System Market, By Deployment Model
11.1.2.2.3 UAE: Social Employee Recognition System Market, By Reward Type
11.1.2.2.4 UAE: Social Employee Recognition System Market, By Industry
11.1.2.3 Saudi Arabia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
11.1.2.3.1 Saudi Arabia: Social Employee Recognition System, By Component
11.1.2.3.2 Saudi Arabia: Social Employee Recognition System Market, By Deployment Model
11.1.2.3.3 Saudi Arabia: Social Employee Recognition System Market, By Reward Type
11.1.2.3.4 Saudi Arabia: Social Employee Recognition System Market, By Industry
11.1.2.4 Rest of MEA: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
11.1.2.4.1 Rest of MEA: Social Employee Recognition System, By Component
11.1.2.4.2 Rest of MEA: Social Employee Recognition System Market, By Deployment Model
11.1.2.4.3 Rest of MEA: Social Employee Recognition System Market, By Reward Type
11.1.2.4.4 Rest of MEA: Social Employee Recognition System Market, By Industry
12. Impact Of COVID-19 Pandemic on Middle East and Africa Social Employee Recognition System Market
12.1 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Merger and Acquisition
13.3 New Development
14. Company Profiles
14.1 BI Worldwide
14.1.1 1.3.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Globoforce Limited (Workhuman)
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Kudos Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Terryberry
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Semos Cloud
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. South Africa: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 2. South Africa: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 3. SOUTH AFRICA: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 5. UAE: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 6. UAE: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 7. UAE: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 8. UAE: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 9. Saudi Arabia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 10. Saudi Arabia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 11. Saudi Arabia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. Saudi Arabia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of MEA: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of MEA: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of MEA: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of MEA: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 17. Glossary of Terms, Social Employee Recognition System Market
LIST OF FIGURES
Figure 1. Social Employee Recognition System Market Segmentation
Figure 2. Middle East and Africa Social Employee Recognition System Market Overview
Figure 3. Platform Segment Held Largest Share of Component in Social Employee Recognition System Market
Figure 4. Saudi Arabia is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Social Employee Recognition System Market - Middle East and Africa PEST Analysis
Figure 6. Social Employee Recognition System Market Impact Analysis of Driver and Restraints
Figure 7. Middle East and Africa Social Employee Recognition System Market – Revenue Forecasts and Analysis – 2020- 2028
Figure 8. Social Employee Recognition Systems Market, By Component (2020 and 2028)
Figure 9. Platform: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 10. Services: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 11. Social Employee Recognition System Market, By Deployment Model (2020 and 2028)
Figure 12. Cloud: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. On-premise: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Social Employee Recognition System Market, by Reward Type (2020 and 2028)
Figure 15. Gift Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Incentive Travel: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Social Employee Recognition System Market, By Industry (2020 and 2028)
Figure 20. Retail: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. IT & Telecom: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Healthcare: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Manufacturing: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Middle East and Africa: Social Employee Recognition System Market, by Key Country – Revenue (2021) (USD Millions)
Figure 28. Middle East and Africa: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
Figure 29. South Africa: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 30. UAE: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Saudi Arabia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of MEA: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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