Configure Price And Quote (CPQ) Software Market to grow by USD 3.18 billion between 2022 - 2027 | Growth Driven by Increasing need for higher productivity - Technavio

NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The Configure Price And Quote (CPQ) Software Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the configure price and quote (CPQ) software market between 2022 and 2027 is USD 3.18 billion. The rising need for higher productivity is one of the key factors driving growth in the configure price and quote (CPQ) software market. CPQ software aids sales management personnel in boosting productivity by reducing their dependence on paperwork and documentation. It accelerates pricing and configuration processes, leading to cost reduction for organizations. Moreover, cloud-based CPQ software enables time savings. Additionally, it facilitates legacy system integration, addresses management hurdles, and eliminates inconsistencies in pricing data. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge - The lack of coordination among business units will be a significant challenge restricting market growth. The effective implementation of CPQ software requires the involvement and collaboration of multiple business units within the enterprise. Moreover, when sales teams implement CPQ software without proper consultation with other departments such as IT, product management, and finance, it can result in the failure of the implementation process. For example, decisions related to product pricing, including discounts, should be made in consultation with the finance team before the software rollout. The low success rates observed during the implementation process greatly affect the adoption of CPQ software by companies, resulting in decreased sales. Hence, these factors are expected to restrict market growth during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The configure price and quote (CPQ) software market is segmented by Deployment (Cloud-based and On-premise), End-user (IT and telecom, BFSI, Automobile, and Retail and others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The cloud-based segment will be significant during the forecast period. Salesforce, Oracle, SAP, and Cincom are some examples of cloud-based CPQ software vendors. Companies that must share updated information such as product classification as it gives access to real-time data to all authorized parties consider CPQ software as an ideal platform. Furthermore, cloud-based social media management solutions are deployed over public, private, and hybrid cloud computing models. Hence, such factors drive the growth of the cloud-based segment of the CPQ software market during the forecast period.
• North America will contribute 39% to the growth of the global market during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the configure price and quote (CPQ) software market:

Accenture Plc, Apttus Corp., Aspire Technologies, Cincom Systems Inc., CloudSense Ltd., ConnectWise LLC, Experlogix LLC, Hansen Technologies Ltd., International Business Machines Corp., Koch Industries Inc., Model N Inc., Oracle Corp., Pros Holdings Inc., Revalize Inc., Salesforce Inc., SAP SE, Tacton Systems AB, Vendavo Inc., Yagna iQ Inc., Zuora Inc.

Related Reports:

The Digital Manufacturing Software Market size is estimated to grow at a CAGR of 15.9% between 2022 and 2027. The market size is forecast to increase by USD 35,320.04 million.

The Software Market size is estimated to grow at a CAGR of 8.47% between 2022 and 2027. The market size is forecast to increase by USD 27.86 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio