Configure, price, quote (CPQ) software is helpful to the sales management personnel in terms of improving their productivity and reducing their dependency on tedious paperwork and documentation. Adoption of CPQ software not only speeds up the process of pricing and configuration, it also helps organizations to reduce their overall pricing cost. During the times of COVID-19 pandemic, when due to lockdown, businesses are earning limited or no revenue, cost-cutting is a priority for everyone. Due to cost-cutting measures being offered by CPQ software, configure price and quote (CPQ) software market is expected to rise rapidly in the United States.
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The reduction of barriers to entry enabled by the introduction of software as a service (SaaS), which leads to reduced upfront cost, is anticipated to aid the growth of United States configure price and quote (CPQ) software market over the period of next eight years. The growing popularity of customized CPQ software, is further expected to proliferate the market over the future years.
Key Findings of the Report:
- The United States configure price and quote (CPQ) software market was valued at US$ 456.13 Mn in 2020 and is anticipated to reach US$ 2386.91 Mn by 2029 growing at a CAGR of 20.2% during the forecast period.
- The cloud-based deployment category in the United States configure price and quote (CPQ) software market is expected to retain its market share due to the convenience offered by CPQ software. When a user chooses a public cloud deployment model, it is the responsibility of the service provider to set up information technology (IT) infrastructure and make it useable. The service provider also manages the vast majority of the everyday challenges of cloud management. Hence, the user would not need to be concerned about developing, maintaining, or upgrading software.
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- The cloud based services of CPQ software enables large enterprises to quickly and efficiently scale their IT departments up and down as per the business demands. Businesses with growing or fluctuating bandwidth demands need cloud-based solutions for best performance. Demand for increased bandwidth can be met by increasing cloud capacity and there is no need for business to invest in physical infrastructure. This scalability not only minimizes the risks that are associated with in-house operational issues, it also offers right kind of maintenance. Thus large enterprises are estimated to dominate the United States configure price and quote (CPQ) software market over the period of next eight years.
- CPQ software can oversee the configuration process which enables the software user to deliver the products or services promised to the client. CPQ software ensures that customers receive fast deliveries, accurate pricing and quotes for the products as well as services that they have configured. In order to keep up with customer demands, United States configure price and quote (CPQ) software market vendors are increasingly developing customized software solutions, in which the software is capable to quickly change products/services, pricing, and other configuration rules.
- In 2020, Western region in the United States configure price and quote (CPQ) software market was the largest regional market due to high demand for CPQ software. In general, United States is a technologically advanced country and the adoption of new technology is faster in majority regions of the United States.
- Some of the players operating in the United States configure price and quote (CPQ) software market include Apttus Corporation, BCA Technologies Software, BearingPoint, Cincom Systems Inc., CloudSense, ConnectWise LLC, Infor, International Business Machines Corporation (IBM), Model N Inc., Netcracker Technology, Oracle Corporation, PandaDoc Inc., Pegasystems Inc., PROS Inc., Salesforce.com Inc., SAP SE, TactonSystems AB, and VENDAVO amongst others.
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United States Configure Price And Quote (CPQ) Software Market:
- By Deployment
- By Organization Size
- Small and Medium Size Enterprises
- Large Enterprises
- By Business Type
- Business-to-Consumer (B2C)
- Business-to-Business (B2B)
- By Verticals
- Transport & Logistics
- Banking, Financial Services and Insurance
- IT & Telecommunication
- Media & Entertainment
- Energy & Power
- By Region
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