Latest News- Configure Price And Quote (CPQ) Software Market: Cloud-based is expected to lead the Deployment segment during 2025-2029

The Configure Price And Quote (CPQ) Software Market is being driven by Increasing need for higher productivity in organizations

The Configure Price And Quote (CPQ) Software Market is expected to grow at a CAGR of 16.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3505.1 million. The global surge in mobile subscribers and the preference for advanced smart devices have significantly influenced the business landscape. This trend has resulted in an increase in location-based data generation from users of these devices. Enhancements in mobile app user interfaces and the widespread adoption of location-enabled mobile devices, such as high-performing smartphones and tablets, have boosted the adoption of Configure Price and Quote (CPQ) software across various industries. Additionally, an increasing number of enterprises are equipping their employees with handheld devices for business purposes, thereby fueling the generation of location data. In response, mobile device manufacturers are continuously innovating to develop new devices capable of generating location-based data from business applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud-based
  • On-premises
• End-user
  • IT and telecom
  • BFSI
  • Automobile
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for higher productivity in organizations
• Rising demand for CPQ software from emerging countries in APAC
• Low price of CPQ software

However, the market also witnesses some limitations, which are as follows:

• Lack of coordination among business units
• Usage of outdated data in CPQ software
• Availability of open-source CPQ software

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Market Scope in Configure Price And Quote (CPQ) Software Market Research Report

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Research Analysis Overview

In the dynamic business landscape, Configure Price and Quote (CPQ) software has emerged as a vital sales tool, enabling resource documents-driven configuration of quotes for various industries, including IT and telecommunications, healthcare, transportation, and the software industry. Cloud-Based CPQ Software and On-Premises CPQ Software cater to the configurable product-oriented industries' unique needs. CPQ software systems integrate with CRM systems, offering product configuration engines, algorithms, and assisted selling tools. The CPQ software market expands to Retail and e-commerce, digital transformation, mobility solutions, and AI-powered CPQ solutions, fueled by machine learning algorithms and sales management productivity. Smartphones and Mobile apps are the new frontiers for CPQ software, enhancing sales efficiency and customer experience.

Market Research Overview

The Configure Price and Quote (CPQ) software market is a segment of the larger application software market within the IT software industry. This market caters to businesses requiring specialized software to manage and automate the sales process, including quote generation, price configuration, and order management. CPQ solutions are available in both cloud-based and on-premises deployments, catering to various industries such as IT and telecommunications, healthcare, and transportation. Technavio's market analysis calculates the size of the global CPQ software market based on the combined revenue generated by companies providing these solutions, encompassing both cloud-based and on-premises offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/