Global Configure Price Quote Software Market to Reach US$7.3 Billion by 2030

The global market for Configure Price Quote Software estimated at US$2.5 Billion in the year 2023, is expected to reach US$7.3 Billion by 2030, growing at a CAGR of 16.3% over the analysis period 2023-2030. On-Premise, one of the segments analyzed in the report, is expected to record a 15.0% CAGR and reach US$3.6 Billion by the end of the analysis period. Growth in the Cloud segment is estimated at 17.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$756.3 Million While China is Forecast to Grow at 19.8% CAGR

The Configure Price Quote Software market in the U.S. is estimated at US$756.3 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 19.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 13.2% and 14.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.8% CAGR.

Global Configure Price Quote Software Market - Key Trends and Drivers Summarized

Configure Price Quote (CPQ) software is a sales tool that helps companies accurately define the price of goods across a vast and constantly changing spectrum of variables. By allowing the precise configuration of products from a variety of components, and calculating prices based on a combination of factors including volume, customizations, discounts, and more, CPQ software can dramatically streamline the process of quoting prices. This technology ensures that sales teams can quickly deliver accurate and configured quotes to potential customers, reducing errors and enhancing customer satisfaction. CPQ systems integrate with CRM and ERP systems, ensuring that data flows seamlessly across all stages of the sales process, from quote to cash.

The market for CPQ software is rapidly expanding as businesses across various sectors recognize its potential to improve sales efficiency and deal accuracy. By automating the quoting process, CPQ software reduces the time spent on sales operations and enables sales representatives to focus more on customer engagement and less on administrative tasks. The flexibility offered by CPQ tools allows for easy adaptation to specific industry requirements, enhancing its applicability in fields such as manufacturing, IT services, and healthcare, where customized product offerings are common. Additionally, CPQ software supports global sales operations by accommodating multiple currencies and pricing rules specific to geographical markets, which is invaluable for multinational corporations.

The growth in the CPQ software market is driven by several factors, including the increasing complexity of sales processes, the need for faster response times in quote generation, and the integration of advanced technologies like AI and machine learning. As products and services become more tailored and customer expectations for quick service rise, the demand for CPQ solutions that can deliver speedy and precise quotes increases. Furthermore, advancements in AI are enabling CPQ systems to provide smarter recommendations for upselling and cross-selling, enhancing their value in strategic sales planning. Additionally, as businesses increasingly move towards digital transformation, the integration of CPQ software with other enterprise applications creates a more unified and efficient sales ecosystem, fostering further market growth.