At 15.2% CAGR, Asia Pacific Pricing Software Market is Projected to be Worth US$ 921.63 million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific pricing software market was valued at US$ 296.72 million in 2023 and is expected to reach US$ 921.63 million by 2031, registering a CAGR of 15.2% from 2023 to 2031. Digital transformation globally and growing data generation & data analytics tools are among the critical factors attributed to driving the Asia Pacific pricing software market growth.

Digital technologies are transforming how businesses and consumers operate across the globe. Due to the COVID-19 pandemic, there was a rapid rise in the adoption of digital technologies. Digitization saved many companies during the pandemic as they adapted to remote work cultures and online operations. Developing economies such as India, China, South Africa, Brazil, and Argentina are adopting advanced digital technologies in various sectors, such as manufacturing, manufacturing, e-commerce and retail, and IT and telecom, to enhance productivity and economic growth. For instance, the Digital India initiatives launched by the Indian government improved the online infrastructure and increased internet accessibility in most of the rural areas. With these initiatives, the penetration of e-commerce and other online marketplaces increased, ultimately driving the demand and production of consumer goods. Many companies across the globe are prioritizing digital transformation over other upgrades of business processes. The rising adoption of digital technologies has increased the demand for the replacement of conventional pricing management and data collection methods. The growing preference for digital transformation is driving the pricing software market.

On the flip side, high procurement costs hamper the growth of Asia Pacific pricing software market.

By type, the Asia Pacific pricing software market is segmented into cloud based and on-premise. The cloud based segment held a 74.2% share of Asia Pacific pricing software market share in 2023, amassing US$ 220.15 million. It is projected to garner US$ 703.40 million by 2031 to register 15.6% CAGR during 2023-2031.

In terms of enterprise size, the Asia Pacific pricing software market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 68.3% share of Asia Pacific pricing software market share in 2023, amassing US$ 202.71 million. It is projected to garner US$ 598.88 million by 2031 to register 14.5% CAGR during 2023-2031.

Based on industry vertical, the Asia Pacific 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 23.9% share of Asia Pacific pricing software market share in 2023, amassing US$ 70.80 million. It is projected to garner US$ 221.56 million by 2031 to register 15.3% CAGR during 2023-2031.

Based on country, the Asia Pacific pricing software market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 31.5% share of Asia Pacific pricing software market in 2023. It was assessed at US$ 93.45 million in 2023 and is likely to hit US$ 301.37 million by 2031, registering a CAGR of 15.8% 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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