At 9.8% CAGR, North America Pricing Software Market is Projected to be Worth US$ 885.69 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America pricing software market was valued at US$ 418.95 million in 2023 and is expected to reach US$ 885.69 million by 2031, registering a CAGR of 9.8% from 2023 to 2031. Integration with artificial intelligence (AI) and growing data generation and data analytics tools are among the critical factors attributed to driving the North America pricing software market growth.

The integration of AI and machine learning is expected to become a key trend in the pricing software market, transforming how organizations manage and optimize prices. In the continuously changing world of business and competitive scenarios, the need for more accurate data is high. Adoption and integration of such technologies to better understand their customers and optimize strategies for increased profits. With the help of Artificial Intelligence pricing engines, companies can analyze the data at minute levels such as weather, seasonality, days of week and time, events, and holidays. This type of software goes beyond the conventional pricing analysis methods and uses advanced and modern algorithms to analyze complex patterns, customer behavior, market trends, and other related factors in real time. Some of the notable use cases of artificial intelligence in pricing software are personalized pricing, demand prediction, and new product pricing, among others. As the e-commerce share in the overall retail sector is increasing, the e-commerce and marketplace companies are taking various initiatives to increase the revenue share in the overall retail industry. This can be attributed to the rise in demand for personalized solutions in the service sector industry. The demand for such solutions in the software and e-commerce industry is increasing. Integration of AI in the pricing software will help e-commerce companies identify customers with high spending and historical buying behavior. With this, companies can produce and propose personalized solutions and other sales strategies, such as custom discounts and vouchers.

On the flip side, high procurement costs hamper the growth of North America pricing software market.

By type, the North America pricing software market is segmented into cloud based and on-premise. The cloud based segment held a 71.1% share of North America pricing software market share in 2023, amassing US$ 297.77 million. It is projected to garner US$ 649.89 million by 2031 to register 10.2% CAGR during 2023-2031.

In terms of enterprise size , the North America pricing software market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 64.3% share of North America pricing software market share in 2023, amassing US$ 269.45 million. It is projected to garner US$ 545.50 million by 2031 to register 9.2% CAGR during 2023-2031.

Based on industry vertical, the North America pricing software market is segmented into manufacturing, travel and hospitality, IT and telecom, retail and e-commerce, food and beverages, BSFI, and others. The manufacturing segment held 23.0% share of North America pricing software market share in 2023, amassing US$ 96.19 million. It is projected to garner US$ 185.90 million by 2031 to register 8.6% CAGR during 2023-2031.

Based on country, the North America pricing software market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.7% share of North America pricing software market in 2023. It was assessed at US$ 338.11 million in 2023 and is likely to hit US$ 732.91 million by 2031, registering a CAGR of 10.2% during 2023-2031.

Key players operating in the pricing software market are BOOPER; COMPETERA LIMITED; Epicor Software Corp; Eversight; Flintfox; Mercio; Minderest; Omniaretail B.V.; Price Edge; Price f(x) AG; PriceBeam; Pricemoov; PricingHUB; Prisync; PROS Holdings Inc; Reactev; RELEX Solutions; Retalon; Revalize, Inc; Sniffie Software Ltd.; Toptal, LLC; Vendavo, Inc; WEBCentric d.o.o; Wiser Solutions, Inc.; and Zilliant, Inc., among others.

• In November 2023: Epicor, a global leader of industry-specific enterprise software to promote business growth, announced that for the second time in a row it has been positioned as a Leader in the Nucleus Research Configure Price Quote (CPQ) Technology Value Matrix published in November 2023. Nucleus evaluated Epicor CPQ, a comprehensive solution that streamlines the quoting process by automating configuration, pricing, and quoting. It enables businesses to handle complex product configurations efficiently, set accurate pricing based on rules, and automate the generation of professional quotes. Epicor CPQ can be used as a standalone product or integrated with the Epicor Industry ERP Cloud.

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