What Is The Current and Historic Market Size Analysis Of The Retail Pricing Software Market?
The retail pricing software market has seen considerable growth due to a variety of factors.
• The market size for retail pricing software has been experiencing significant growth in the recent past. Anticipated to thrive from $11.42 billion in 2024 to $12.54 billion in 2025, this segment's compound annual growth rate (CAGR) is predicted to be 9.8%.
The growth during the historic period has been sparked by technological progress, swelling e-commerce, intensifying competition, the need for competent inventory management, the surge in demand for dynamic pricing, along with the expansion of global retail market.
What Is The Forecast For The Retail Pricing Software Market Size?
The retail pricing software market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is foreseen in the retail pricing software market in the upcoming years, with projected growth to $18.06 billion in 2029 at a CAGR of 9.5%.
Factors contributing to this increase during the forecast period include the embrace of AI and machine learning, a surge in big data analytics, a growing emphasis on tailored pricing, advancements in omnichannel retail, a broader acceptance of mobile commerce, and a necessity for immediate pricing modifications. Key trends predicted for the forecast period comprise alliance with sophisticated analytics platforms, adoption of prognostic pricing models, proliferation in subscription-based pricing structures, focus on optimizing customer experience, formulation of cross-channel pricing techniques, and implementation of blockchain for transparent pricing.
What Are The Essential Drivers Behind The Growth Of The Retail Pricing Software Market?
The retail pricing software market is anticipated to flourish due to the surge in e-commerce activity and online rivalry. The proliferation of e-commerce is accelerated by the greater accessibility to the internet, the ease of online shopping, and the shopper's choice, resulting in heightened online competition. Businesses are making use of technology and data to connect to a wider audience and stand out in an enlarging digital marketplace. Sophisticated retail pricing software refines pricing tactics allowing retailers to amend their prices in response to market movements, the strategies of competitors, and customer behavior, thereby bolstering their revenue and profit margins. For example, in August 2024, the United States Census Bureau, a main agency of the US federal statistical system, reported that US retail e-commerce sales for the second quarter totalled $291.6 billion. This was a rise of 6.7% when compared to the same period in 2023 and an escalation of 1.3% from the first quarter of 2024. Consequently, the expanding e-commerce and the online rivalry is stimulating the growth of the retail pricing software market.
How Is The Global Retail Pricing Software Market Divided Into Key Segments?
The retail pricing softwaremarket 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
Subsegments:
1) By Software: Price Optimization Software, Dynamic Pricing Software, Competitive Pricing Software, Price Monitoring Software, Pricing Analytics Software
2) By Service: Consulting Services, Implementation Services, Training Services, Support And Maintenance Services
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How Are Emerging Trends Reshaping The Dynamics Of The Retail Pricing Software Market?
Major enterprises in the retail pricing software market are paying significant attention to advancements in artificial intelligence and machine learning, specifically AI-based price optimization tools, to boost the precision of pricing and better their competitive standing. These AI-based pricing optimization techniques utilize artificial intelligence along with machine learning algorithms to scrutinize a large pool of data such as market fluctuations, competitors' pricing, and consumer habits in order to establish the most beneficial pricing approaches. For example, Flipkart Private Limited, an e-commerce business hailing from India, rolled out 'Flipkart Commerce Cloud' in October 2023. The platform is a collection of AI-fuelled retail tech solutions, aimed at boosting international e-commerce and marketplace performance. The comprehensive platform, including a complete marketplace technology framework, retail media, price handling and solutions, has all been put through rigorous scalability testing at Flipkart. It has been crafted to assist retailers in growing their businesses, enhancing their operational effectiveness and utilizing Flipkart's widespread e-commerce knowledge to provide sophisticated, trustworthy solutions on a global scale.
Who Are the Key Players In The Retail Pricing Software Market?
Major companies operating in the retail pricing software market are:
• 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
What Are The Regional Insights Into The Retail Pricing Software Market?
North America was the largest region in the retail pricing software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail pricing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
