Middle East & Africa Pricing Software Market

The Middle East & Africa pricing software market was valued at US$ 84.20 million in 2023 and is expected to reach US$ 163.91 million by 2031; it is estimated to register a CAGR of 8.7% from 2023 to 2031.

Integration with Artificial Intelligence (AI) Bolsters Middle East & Africa Pricing Software Market

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.

Middle East & Africa Pricing Software Market Overview

Digital transformation is a key goal in the Middle East as governments of various countries in the region recognize the need to adapt to digital technologies for economic diversification and sustainability. Many Gulf Cooperation Council (GCC) states are implementing ambitious economic diversification initiatives to reduce their dependence on oil and gas. Governments of various countries, such as Bahrain, Saudi Arabia, and the UAE, are playing a key role in fueling digital transformation through initiatives and investments, as well as the extensive use of advanced technology. The government bodies also increased their initiatives to promote the adoption of digital technologies across all sectors to improve efficiency and compete in the global market. For instance, in March 2021, the Saudi Arabian government launched the Digital Government Authority (DGA) to oversee the national digital strategy across the country. The key sectors fueling the adoption of pricing software in the Middle East and Africa include food and beverages, BFSI, hospitality, real estate, and healthcare. The rise in demand for pricing software from organizations in these industries to improve profitability and enhance price optimization and management is further expected to propel the pricing software market during the forecast period.

Middle East & Africa Pricing Software Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Pricing Software Market Segmentation 

The Middle East & Africa pricing software market is categorized into type, enterprise size, industry vertical, and country.

By type, the Middle East & Africa pricing software market is segmented into cloud based and on-premise. The cloud based segment held a larger share of the Middle East & Africa pricing software market share in 2023.

In terms of enterprise size, the Middle East & Africa pricing software market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa pricing software market share in 2023.

Based on industry vertical, the Middle East & Africa 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 the largest share of the Middle East & Africa pricing software market share in 2023.

Based on country, the Middle East & Africa pricing software market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The UAE segment held the largest share of the Middle East & Africa pricing software market in 2023.

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. are some of the leading companies operating in the Middle East & Africa pricing software market.