According to our latest study on "Pricing Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Type, Enterprise Size, and Industry Vertical," the pricing software market size was valued at US$ US$ 1.20 billion in 2023 and is expected to reach US$ 2.87 billion by 2031; it is estimated to record a CAGR of 11.5% from 2023 to 2031.

The pricing software market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC, respectively. Europe is witnessing increasing digitalization across various industries, including BFSI. Almost every well-known banking institution in Europe has a digital transformation strategy. Offering digital services and goods 24/7 to improve customer experience is the main goal of most digitalization plans for banks. The EU has set two main goals for the digitalization of businesses by 2030: more than 90% of SMEs could achieve at least a basic level of digital intensity, and 75% of EU companies should use cloud computing services. According to the EU, in 2023, more than 70% of all EU companies reached a basic level of digital intensity. The proportion of SMEs was 69%, whereas large companies stood at 98%. Thus, the increasing digitalization in Europe fuels the need to manage pricing for company's offerings across various industries to benefit from the profitability, sales, market dynamics, consumer behavior, and others, which, in turn, is expected to drive the pricing software market from 2023 to 2031.

Germany already has the necessary digital IT infrastructure and a strong customer base. Germany is yet to overtake the UK in overall mobile payments; however, according to the International Trade Administration, the projected CAGR of mobile payment adoption is currently 43.8%, compared to 19.5% in the UK from 2023 to 2028. This growth will be mainly driven by increasing credit card adoption, which is expected to reach 67.3% in 2028 (vs. 58% in 2023), the highest user penetration of mobile payment options in the EU (24.3%), and strong demand for digital personal financial services. N26, Fidor Bank, SolarisBank, and Auxmoney are among the fintech companies that are active in the country. Many fintech companies offer online banking. For example, in addition to infrastructure services for financial organizations, Solarisbank offers digital banking services.



Key Findings of Pricing Software Market Study:

The pricing software market is segmented into type, enterprise size, and industry vertical. By type, the market is divided into cloud-based and on-premises. Based on enterprise size, the pricing software market is bifurcated into small and medium enterprises (SMEs) and large enterprises. Based on industry-vertical, the pricing software market is segmented into IT and telecom, retail and e-commerce, food, and beverages, BFSI, manufacturing, travel and hospitality, and others.

Depending upon the industry vertical, the market is segmented into manufacturing, travel and hospitality, it and telecom, retail and e-commerce, food and beverages, BFSI and others. The manufacturing segment held the largest pricing software market share. This is owing to the rising adoption of pricing software among businesses worldwide. The companies are investing in building new data warehouses and advanced pricing analytics tools by moving their existing systems to the cloud platform. Cloud migration service is gaining popularity in the manufacturing sector owing to its benefits, such as cost savings, improved pricing management, high scalability, collaboration, security, productivity, and automation.

Globally, the manufacturing industry is witnessing substantial growth owing to surging investments in digitalization and price management platforms. In addition, manufacturing companies across the globe are focused on expanding their geographical presence. This is influencing the rise in the number of distributors across the globe. Additionally, owing to the increasing competition, pricing software plays an important role in the manufacturing sector, influencing companies to adopt competitive pricing strategies.

The adoption of 5G infrastructure is creating a paradigm shift across the IT and telecom sector. It has gained widespread popularity owing to the advantages of increased connectivity, faster data transfer rates, and reduced latency. Owing to these benefits, North America witnesses a staggering growth of 5G connections by 64% year-over-year, adding around 77 million new connections to its 5G network. As of 2023, North America's 5G connections reached ~197 million. South America also showed substantial growth in both 4G LTE and 5G connections reaching 582 million in 2023, increased by 40 million new connections as compared to 2022.



In 2023, 5G connections adoption accelerated and reached ~1.76 billion globally, according to the 5G Americas Organization. Additionally, 5G data traffic is projected to reach 2.6 billion in 2023. The exponential rise in the adoption of 5G networks worldwide has created a massive demand from consumers for price comparisons of different products in the IT and telecom sector. The IT and telecom companies are migrating their data on to the cloud-based pricing software platform to improve profit and price management which in turn is anticipated to drive the market growth in the coming years.

Epicor Software Corp; PROS Holdings Inc; Revalize, Inc; Competera Limited; Price f(x) AG; Prisync; Webcentric D.O.O.; Zilliant Inc; BlackCurve Solutions Limited; Skuuudle; PriceBeam; Flintfox; Sniffie Software Ltd.; Eversight; Minderest; Wiser Solutions, Inc.; Reactev; Price Edge; Toptal, LLC; and Retalon are among the key players profiled in the pricing software market report. Several other major players were studied and analyzed during the pricing software market analysis to get a holistic view of the market and its ecosystem. The pricing software market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current pricing software market trends and their foreseeable impact during the forecast period.




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