The Middle East & Africa trade promotion management software market is expected to grow from US$ 64.75 million in 2022 to US$ 112.55 million by 2030. It is estimated to grow at a CAGR of 7.2% from 2022 to 2030.
Additionally, retailers are highly aware of the benefits provided by trade promotion management as they increase their operating margins by 60% by using efficient promotion strategies and analytics. With constant improvements, the adoption of trade promotion optimization is also rising. Moreover, the presence of companies offering analytics solutions to make trade promotion management efficient is making a positive contribution toward the market growth.
For instance, Neal Analytics is a provider of trade promotion optimization solutions that assist businesses in creating a sales baseline for determining in-around of sales and calculating historical promotion redemption rate, volume uplift, and ROI by utilizing sell-through data and cost factors. Thus, the use of advanced analytics for trade promotion management is anticipated to fuel the market growth in the coming years.
The use of promotional tools and other marketing techniques in consumer-packaged goods companies promotes the penetration of trade promotion management solutions and software in the Middle East & Africa. Countries such as the UAE, Kuwait, Saudi Arabia, Bahrain, and Qatar are making significant investments in their retail & e-commerce sector to address dynamic consumer behaviour. In the Middle East & Africa, it has been observed that the growing Gen X is playing a crucial role in influencing retailers to invest substantially in promotional activities.
With the increasing population of this generation, the adoption of retail and online sales is boosting, which is promoting the use of advanced marketing tools, such as trade promotion optimization, to have greater revenue. The growing development of the e-commerce sector in the Middle East is driving the growth of the trade promotion optimization market. In addition, increasing demand from buyers to purchase products conveniently and quickly propels the growth of the e-commerce sector.
In countries such as the UAE, a high proportion of customers have increased their expenditure on online purchases, which is also contributing to the growth of the e-commerce sector in the region. Hence, to understand dynamic consumer behaviour patterns while optimizing investments in promotional activities, trade promotion management software is widely used.
Use of Advanced Analytics for Trade Promotion Management Bolsters Middle East & Africa Trade Promotion Management Software Market
Technological advancements in data and analytics have restructured consumer goods and fast-moving consumer goods companies in recent years. Technological developments such as linking trade promotion to advanced analytics can help in making the future of trade promotions more efficient and effective. Consumer goods packaged companies are using advanced analytics while conducting trade promotion management activities. Through advanced analytics, consumer goods companies obtain much more granular information, generating insight related to shoppers and their consumer behaviours. By utilizing analytics, these companies can drive better returns on promotional investment and customizing investment to line up with overarching strategic goals.Additionally, retailers are highly aware of the benefits provided by trade promotion management as they increase their operating margins by 60% by using efficient promotion strategies and analytics. With constant improvements, the adoption of trade promotion optimization is also rising. Moreover, the presence of companies offering analytics solutions to make trade promotion management efficient is making a positive contribution toward the market growth.
For instance, Neal Analytics is a provider of trade promotion optimization solutions that assist businesses in creating a sales baseline for determining in-around of sales and calculating historical promotion redemption rate, volume uplift, and ROI by utilizing sell-through data and cost factors. Thus, the use of advanced analytics for trade promotion management is anticipated to fuel the market growth in the coming years.
Middle East & Africa Trade Promotion Management Software Market Overview
The trade promotion management software market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, and the UAE. The region is anticipated to witness a rapid increase in industrialization and commercialization, which will boost the growth of various sectors in the coming years. The Gulf countries are economically developed, while the African countries are gradually achieving the same economic conditions as these countries. In the era of continuous technological developments, the integration of advanced technologies is increasing in numerous industries, such as the consumer goods industry in the Middle East.The use of promotional tools and other marketing techniques in consumer-packaged goods companies promotes the penetration of trade promotion management solutions and software in the Middle East & Africa. Countries such as the UAE, Kuwait, Saudi Arabia, Bahrain, and Qatar are making significant investments in their retail & e-commerce sector to address dynamic consumer behaviour. In the Middle East & Africa, it has been observed that the growing Gen X is playing a crucial role in influencing retailers to invest substantially in promotional activities.
With the increasing population of this generation, the adoption of retail and online sales is boosting, which is promoting the use of advanced marketing tools, such as trade promotion optimization, to have greater revenue. The growing development of the e-commerce sector in the Middle East is driving the growth of the trade promotion optimization market. In addition, increasing demand from buyers to purchase products conveniently and quickly propels the growth of the e-commerce sector.
In countries such as the UAE, a high proportion of customers have increased their expenditure on online purchases, which is also contributing to the growth of the e-commerce sector in the region. Hence, to understand dynamic consumer behaviour patterns while optimizing investments in promotional activities, trade promotion management software is widely used.
Middle East & Africa Trade Promotion Management Software Market Segmentation
The Middle East & Africa trade promotion management software market is segmented into component, deployment type, application, Industry vertical, and country .- Based on component, the Middle East & Africa trade promotion management software market is bifurcated into solution and services. The solution segment held a larger share of the Middle East & Africa trade promotion management software market in 2022.
- In terms of deployment the Middle East & Africa trade promotion management software market is bifurcated into cloud and on-premise . The cloud segment held a larger share of the Middle East & Africa trade promotion management software market in 2022.
- Based on application, the Middle East & Africa trade promotion management software market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger share of the Middle East & Africa trade promotion management software market in 2022.
- In terms of industry vertical, the Middle East & Africa trade promotion management software market is segmented into retail & consumer goods, pharmaceutical, it and services, manufacturing, and others . The retail & consumer goods segment held the largest share of the Middle East & Africa trade promotion management software market in 2022.
- Based on country, the Middle East & Africa trade promotion management software market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa trade promotion management software market in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Middle East & Africa Trade Promotion Management Software Market Landscape
5. Middle East & Africa Trade Promotion Management Software Market - Key Industry Dynamics
6. Trade Promotion Management Software Market - Middle East & Africa Market Analysis
7. Middle East & Africa Trade Promotion Management Software Market Analysis - Component
8. Middle East & Africa Trade Promotion Management Software Market Analysis - Deployment Type
9. Middle East & Africa Trade Promotion Management Software Market Analysis - Application
10. Middle East & Africa Trade Promotion Management Software Market Analysis - Industry Vertical
11. Middle East & Africa Trade Promotion Management Software Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Wipro Ltd
- TELUS
- o9 Solutions, Inc.
- Oracle Corp
- SAP SE
- Aforza Inc
