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.
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Configure Price And Quote (CPQ) Software Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.2% |
Market growth 2023-2027 |
USD 3.18 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
18.71 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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., and Zuora Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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