The CPQ software market consists of numerous vendors. Small players are increasingly finding it difficult to compete with the larger players based on reliability and features such as cloud support, and technological advancements. The competition among the players in this quoting software market will intensify during the forecast period with a rise in technological innovations and M&A activities.
The global configure price and quote (CPQ) software market identifies that the rising need for higher productivity will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of almost 15% by 2021.
CPQ software assists the sales management staff to enhance their productivity by lowering the reliance on paperwork and documentation. It increases the speed of pricing and configuration processes and helps organizations decrease their overall costs.
Additionally, the cloud-based CPQ software also helps organizations save time as well. Moreover, the software can also be used to manage legacy system integration, overcome management challenges, and remove pricing data variations.
The rise in mobility solutions is one of the latest trends that will contribute to the growth of this market in the forthcoming years. The increasing adoption of mobile devices and smartphones has led to the wide popularity of mobile apps, which in turn, has increased the efficiency of CPQ software.
The rising adoption of mobility solutions among end-users has led to the increasing accessibility of CPQ software features through smart devices. Additionally, the cloud-based CPQ software also offers different platforms that permits users to access the software from any mobile device.
This increasing convenience has enabled many organizations to effortlessly access and exchange data with employees from remote locations.
The CPQ software market consists of numerous vendors. Small players are increasingly finding it difficult to compete with the larger players based on reliability and features such as cloud support, and technological advancements.
The competition among the players in this quoting software market will intensify during the forecast period with a rise in technological innovations and M&A activities.
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Configure, price, quote (CPQ) is software that helps companies accurately define the price of goods by accounting for several variables that influence things such as cost, including competition, market demand and cost of production.
Configuring a quote can be a time-consuming task, especially when balancing various factors is difficult or the data isn’t readily available. CPQ software eliminates these problems, enabling companies to adjust their pricing to changes in market demand in real time.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global configure price and quote (CPQ) software market?
What are the key market trends impacting the growth of the global configure price and quote (CPQ) software market?
What are the challenges to market growth?
Who are the key vendors in the global configure price and quote (CPQ) software market?
What are the market opportunities and threats faced by the vendors in the global configure price and quote (CPQ) software market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global configure price and quote (CPQ) software market?
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CPQ software is often an add-on to CRM platforms and operates alongside traditional CRM tabs such as sales forecasts and inventory. CPQ buyers often sell fairly complex, high-priced products.
CPQ extends sales automation beyond opportunity management into adjacent sales activities
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the CPQ software market throughout the forecast period. The rising number of software companies and the growth of the software industry in regions such as San Francisco, Boston, and Baltimore, will be the major factors fueling the growth of this quoting software market in the region.
Table of Content:-
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Market landscape
Market size and forecast
Five forces analysis
PART 05: Market segmentation by deployment
Global CPQ software market by deployment
On-premises CPQ software
Cloud-based CPQ software
PART 06: Geographical segmentation
Global CPQ software market by geography
PART 07: Decision framework
PART 08: Drivers and challenges
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