At 8.7% CAGR, Middle East & Africa Pricing Software Market is Projected to be Worth US$ 163.91 Million by 2031, says Business Market Insights

According to Business Market Insights' research, 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, registering a CAGR of 8.7% from 2023 to 2031. Increasing need for competitive pricing strategies and growing data generation & data analytics tools are among the critical factors attributed to driving the Middle East & Africa pricing software market growth.

Considering the current environment where inflation, consumer awareness, and the number of players are increasing, pricing has become one of the important factors as it affects the overall business and its growth. Competitive pricing strategies help companies across the globe to reduce losses and increase the profitability of the company by analyzing a variety of factors that are affecting the pricing of particular goods and services. One of the factors that allow users to understand is price elasticity and demand dynamics. Price elasticity is one of the notable factors in the business as it measures customer sensitivity toward price changes. This helps identify consumer behavior and further optimize the price accordingly. In addition, it also helps analyze the competitors' prices across the sales channels. With this data, companies can come up with competitive prices as the competition is getting fierce and the need for competitive advantages is increasing. This competitive pricing strategy is highly beneficial in setting dynamic prices. Owing to the increased penetration of e-commerce and other online marketplaces, the trends of dynamic prices have increased. Pricing software helps the users not only identify customer behavior and competitors' analysis but also helps in pricing management across the sales channel, which ultimately leads to increased adoption of the pricing software.

On the flip side, high procurement costs hamper the growth of Middle East & Africa pricing software market.

By type, the Middle East & Africa pricing software market is segmented into cloud based and on-premise. The cloud based segment held a 71.1% share of Middle East & Africa pricing software market share in 2023, amassing US$ 59.85 million. It is projected to garner US$ 119.19 million by 2031 to register 9.0% CAGR during 2023-2031.

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 69.6% share of Middle East & Africa pricing software market share in 2023, amassing US$ 58.58 million. It is projected to garner US$ 109.44 million by 2031 to register 8.1% CAGR during 2023-2031.

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 23.9% share of Middle East & Africa pricing software market share in 2023, amassing US$ 20.09 million. It is projected to garner US$ 36.49 million by 2031 to register 7.7% CAGR during 2023-2031.

Based on country, the Middle East & Africa pricing software market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 39.0% share of Middle East & Africa pricing software market in 2023. It was assessed at US$ 32.83 million in 2023 and is likely to hit US$ 70.81 million by 2031, registering a CAGR of 10.1% 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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