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