According to a new market research report published by Credence Research “Multi-level Marketing Software Market (By Deployment (Web-based & Installed and Cloud Based), By End-Use (Wellness, Cosmetics & Personal Care, Household Goods/Durables, Financial Services, and Others (Homecare, Utilities, etc.)), By Application (Small and Medium Enterprises and Large Enterprises)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall multi-level marketing software market worldwide is set to grow with 8.3% CAGR during the forecast period.
Multi-level marketing software market has shown healthy growth in the last decade owing to rapid growth in network marketing and digital marketing worldwide. Since 2009, the network marketing has generated over US$ 1.3 Tn sales, of which US$ 189.6 Bn was generated in the year 2017. Multi-level marketing software is a marketing management tool which helps network marketing companies in managing compensation plan and widespread network of customers worldwide. Additionally, network marketing companies use multi-level marketing software for promotional activities, business analysis, integrated e-commerce, and payout management among others. Multi-level marketing software has extensively been used in network marketing industry across different application fields such as wellness, cosmetics & personal care, and household goods among others. As a consequence of aforementioned factors, we are expecting the multi-level marketing software market to show healthy growth throughout the forecast period.
Based on end-use, the wellness segment is currently the highest revenue contributing segment to the overall multi-level marketing software market.. In 2017, the global share of wellness and cosmetics & personal care segment in the overall network marketing was 34% and 32% respectively. Nowadays, people are health conscious and are focusing more on their wellness and personal care which has resulted in increased spending on wellness and cosmetics & personal care products and services. As a result of these factors, we are expecting the wellness and cosmetics & personal care segments to register strong growth during the forecast period.
Based on geography, in 2018, Asia Pacific was the major value contributor to the global multi-level marketing software market, accounting for more than 40% of the market share worldwide. China, Korea, and Japan are the major value contributors in Asia Pacific with 17%, 8%, and 7.5% revenue share respectively. Inclination towards health & personal care along with rise in disposable income in developing economies of Asia Pacific such as China and India are the major growth drivers for the market. As a consequence of these factors, we are expecting the market will register high growth throughout the forecast period.
In a bid to sustain and gain advantage in this growing market, market players are focusing on forming partnerships, mergers & acquisitions. For instance, in December 2018, Netsoft Inc., collaborated with Gulf Management Systems to expand their payment integration options. After this collaboration, GULF Management Systems payment application ACH was integrated as a default option in Netsoft MLM software. This collaboration was beneficial for both the companies with respect to offering complete turnkey solutions and transaction fee.
Some of the major players profiled in the report include MultiSoft Corporation, Netsoft, Inc., Pro MLM Software, International Direct Selling Technology Corporation (IDSTC), ARM MLM, Xennsoft LLC, SocialBug, Compusult Systems Inc., InfoTrax Systems, and Techbase Solution Sales Management System among others.
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