The retail pricing software market has shown strong growth, projected to grow from $10.43 billion in 2023 to $11.42 billion in 2024, at a CAGR of 9.5%. Factors behind this growth include technological advances, e-commerce expansion, higher competition, demand for dynamic pricing, efficient inventory management, and a growing retail market.
The retail pricing software market is projected to grow to $16.5 billion by 2028, at a CAGR of 9.6%. The growth is attributed to AI and machine learning adoption, the rise of big data analytics, personalized pricing strategies, and the expansion of omnichannel retail. Trends include integration with advanced analytics platforms, predictive pricing models, subscription-based pricing, cross-channel pricing strategies, and blockchain for pricing transparency.
Major Driver In The Retail Pricing Software Market
The retail pricing software market is anticipated to benefit from the rise of e-commerce, which has intensified online competition as businesses leverage technology to optimize pricing strategies. According to the US Census Bureau, US retail e-commerce sales reached $291.6 billion in Q2 2024, reflecting a 6.7% increase from the same quarter in 2023. This growth in e-commerce is driving the demand for advanced retail pricing software solutions, with continued market growth expected through 2028 as online retailers increasingly adopt sophisticated pricing tools to remain competitive.
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Retail Pricing Software Market Competitive Landscape
International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Blue Yonder Group Inc., Simon-Kucher & Partners, Relex Solutions Oy, PROS Holdings Inc., DemandTec Inc., Vendavo Inc., Pricefx AG, EDITED Ltd., Zilliant Inc., First Insight Inc., Revionics Inc., Prisync, Retalon Inc., Solvoyo Corporation, Competera Limited, netRivals, Optimix Solutions, QuickLizard Ltd., Omnia Retail B.V., Wiser Solutions Inc., PriceGrid, Pricing Solutions Ltd., Omnia Retail Srl, Eversight Inc., PriceLabs Inc., BlackCurve Solutions Limited
Key Retail Pricing Software Market Trend
Companies in the retail pricing software market are focusing on AI and machine learning technologies for pricing optimization, improving pricing accuracy, and competitive positioning. AI-based pricing optimization analyzes market trends, competitor prices, and consumer behavior to determine effective pricing strategies. In October 2023, Flipkart Private Limited, an India-based e-commerce company, launched 'Flipkart Commerce Cloud,' a suite of AI-driven solutions to improve global e-commerce operations. This platform includes retail media, pricing management, and scalable technology solutions to support retailers.
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Global Retail Pricing Software Market Segmentation
The retail pricing software market covered in this report is segmented –
1) By Component: Software, Service
2) By Deployment Mode: On-Premise, Cloud-Based, Hybrid
3) By Enterprise Size: Small And Medium-Sized Businesses, Large Enterprises
4) By Application: Retail Pricing, Revenue Management, Competitive Analysis, E-Commerce
By Geography:The regions covered in the retail pricing software market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the retail pricing software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Retail Pricing Software Global Market Report 2024 furnishes information about the global retail pricing software market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
