Press release
Pricing Software Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Pricing Software
The expansion of e-commerce is projected to spur the development of the pricing software market in the future. E-commerce involves internet-based buying and selling of products and services, facilitating transactions via online platforms and digital payment mechanisms. The surge in e-commerce can be attributed to increasing internet usage, mobile shopping practices, adoption of digital payments, and a rising consumer inclination for convenience and speedy delivery. Pricing software aids e-commerce firms in optimizing product pricing by conducting real-time market analyses, making dynamic adjustments, and offering personalized promotions to boost sales and optimize profits. For example, in August 2024, the United States Census Bureau, a government agency based in the US, reported that retail e-commerce sales in the US for the second quarter of 2024 hit an estimated $282.3 billion, a 5.3% rise from the first quarter of 2023. Consequently, the expansion of e-commerce is fueling the development of the pricing software market.
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What is the projected compound annual growth rate (CAGR) of the pricing software market from 2025 to 2034, and what factors influence it?
Over the past few years, there has been an impressive surge in the size of the pricing software market. It is projected to expand from $1.03 billion in 2024 to $1.15 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.6%. The significant growth experienced in the prior period is credited to the rising requirement for data-oriented pricing strategies, the surge in demand for dynamic pricing approaches, consistent expansion in the manufacturing sector, the boom of e-commerce and digital platforms, coupled with the substantial growth seen in the telecommunications sector.
The market size of pricing software is predicted to undergo significant expansion in the coming years. The size is estimated to extend to $1.78 billion by 2029 growing at a compound annual growth rate (CAGR) of 11.4%. This projected development over the forecast period can be tied to an amplified demand for competitive pricing strategies, strengthening of operational and financial handling, adoption of AI and machine learning techniques, incorporation of cutting-edge analytic tools, worldwide digital transformation, and the escalating requirements for IoT connections. The forecast period is heading towards trends such as the incorporation of artificial intelligence (AI), AI-driven pricing solutions, increasing popularity of cloud-based solutions, development of cloud-based pricing platforms, and the incorporation of behavioural economics.
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How are the latest trends influencing the growth of the pricing software market?
In the pricing software industry, leading companies are prioritizing the development of pioneering technologies such as AI optimization pricing software. The objective is to improve pricing precision, streamline decisions, and offer real-time insights into the market, helping businesses enhance profitability and maintain competitiveness. AI optimization pricing software is a tech solution that employs artificial intelligence algorithms to scrutinize market patterns, customer tendencies, and rival pricing, thereby determining the best pricing strategies. It is utilized to automate adjustments in pricing, augment revenue, increase profitability, and respond real-time to alterations in the market. For instance, Price f(x) AG, a software firm based in Germany, introduced Rampur version 13.0 of its award-winning pricing software in June 2024. The AI-backed solution provides automated pricing suggestions, simulations based on different scenarios, and dynamic repricing capabilities, assisting companies in maximizing income while retaining their competitive edge. The update encompasses enhanced integration with external platforms, enabling smooth data transfer and quicker execution of pricing strategies. The latest version, with its customizable dashboards and easy-to-use interface, affords businesses the flexibility and productivity they need in their pricing operations.
What are the major segments of the pricing software market and their role in driving growth?
The pricing software market covered in this report is segmented -
1) By Type: Cloud-Based, On-Premise
2) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Industry Vertical: Manufacturing, Travel And Hospitality, Information Technology And Telecom, Retail And E-Commerce, Food And Beverages, Banking, Financial Services, And Insurance (BFSI)
Subsegments:
1) By Cloud-Based: Software as a Service (SaaS) Pricing Solutions, Subscription-Based Pricing Solutions, Pay-Per-Use Pricing Solutions, Multi-Tenant Cloud-Based Solutions
2) By On-Premise: Enterprise-Level On-Premise Solutions, Single-User On-Premise Solutions, Customizable On-Premise Solutions, Industry-Specific On-Premise Solutions
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Which regions are key players in the growth of the pricing software market?
North America was the largest region in the pricing software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pricing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the pricing software market?
Major companies operating in the pricing software market are International Business Machines Corporation, Oracle Corp., Epicor Software Corporation, PROS Holdings Inc., Price f(x) AG, Vendavo Inc., Revalize Inc., Zilliant Inc., Feedvisor Ltd., Prisync, Competera Limited, SYMSON B.V., Flex Pricing LLC, TrackStreet Inc., BlackCurve Solutions Limited, Omnia Retail B.V., Price2Spy, PriceLabs Inc., Quoter Software Inc., Quicklizard Ltd.
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What Is Covered In The Pricing Software Global Market Report?
•Market Size Forecast: Examine the pricing software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the pricing software market for a structured understanding.
•Key Players Overview: Analyze major players in the pricing software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pricing software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the pricing software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pricing software market.
•Industry Challenges: Identify potential risks and obstacles affecting the pricing software market.
•Competitive Landscape: Review strategic developments in the pricing software market, including expansions, agreements, and new product launches.
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