pricing software Market

The pricing software market size was valued at 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 Asia Pacific, respectively. The pricing software market in North America is segmented into the US, Canada, and Mexico. Across North America, technological advancements and digitalization have led to high competition in the manufacturing industry. As per the National Institute of Standards and Technology, the manufacturing industry in the US was valued at US$ 2.9 trillion and registered a 10.0% share of the total GDP in 2023. Countries such as the US and Canada are pioneers in the adoption of advanced technology and automation across their businesses. The high penetration of the Internet across North America and government initiatives for promoting the adoption of digital technologies in businesses for smooth and seamless operation and reducing human error in pricing management are further catalyzing the adoption of pricing software across North America.

Asia Pacific consists of various growing economies such as India, China, Japan, Australia, South Korea, and Rest of Asia Pacific. These countries are experiencing a gradual increase in the adoption of advanced technologies. Digital capabilities are continually being developed in the region to maintain competitiveness in the long term. Governments of various countries are taking strategic steps toward digitalization. For example, in February 2023, the government of China released the overall plan for the development of a digital China. The plan aims to promote the use of digital technologies in the areas of economics, politics, culture, social affairs, and environmental sustenance. According to the plan, China will build a nationwide system by 2025 to achieve its Digital China goal. By 2035, China wants to be one of the world's leading economies in terms of the level of digitalization. The plan is to promote the use of digital technologies in the areas of economics, politics, culture, social affairs, and environment refurbishment. Likewise, in March 2022, the Australian government announced an investment of US$ 74.91 million (AUD 107.2 million) to improve Australia's healthcare system. Therefore, increasing adoption of digital technologies and growing number of digitalization initiatives are expected to boost the growth of the pricing software market in the region.

Based on enterprise size, the global pricing software market is bifurcated into SMEs and large enterprises. The large enterprises segment dominated the market for enterprise size in 2023 owing to increasing adoption by banking, insurance, and financial services organizations. More than a general pricing strategy is required for large companies in today's fast-paced digital environment, where software solutions are in high demand. This is because large organizations often have specialized or complex requirements. In such cases, enterprise pricing software ensures that companies can provide the solutions, so that these large organizations need without fear of loss of profits and that companies receive the solutions they need without sacrificing growth or usefulness. Hence, the rise in demand for pricing software from large enterprises to gain profit by management and optimization of prices for a broad range of products, featured discounts, volume discounts, and others is anticipated to drive market growth for this segment from 2023 to 2031.

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 pricing software market players that are profiled in this market study. 

The overall pricing software market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the pricing software market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the pricing software market.