Global Configure Price and Quote (CPQ) Application Market: Introduction
- Configure Price and Quote (CPQ) application is an integrated set of software applications which provide configuration, pricing, and quote generation activities for sales negotiations. The configure price and quote application works with various business applications such as CRM and ERP to provide accurate data.
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Global Configure Price and Quote (CPQ) Application Market: Dynamics
- Increasing demand for automation solutions
- Increasing adoption of the automation process by various enterprises to reduce the process time and cost have accelerated the demand for configure price and quote applications. The configure price and quote application generates a seamless bridge between customer-facing front-end systems such as e-commerce solutions, CRM, customer services, etc and back-end solutions such as enterprise resource planning and other legacy solutions which helps companies to increase their operational efficiencies, sales success, and profit margin. The configure price and quote application helps companies to accelerate their sales strategy by centralizing business rules, product pricing, data, discounting, contracts, and creating an automation approval process.
North America Dominated the Global Configure Price and Quote (CPQ) Application Market in 2019
- Based on region, the global configure price and quote (CPQ) application market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held dominant share of the global configure price and quote (CPQ) application market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are major countries that drive the market in the region. Significant presence of market leaders such as Oracle Corporation, Salesforce.com, Inc, SAP SE, and Configure One, Inc. and the trend of early adoption of technology are some of the factors which provide the dominant position to the region in the global configure price and quote application market.
- The configure price and quote (CPQ) application market in Asia Pacific is expected to expand at a rapid CAGR during the forecast period. India, China, Japan, and Australia are major countries of the CPQ application market in the region. Increasing adoption of cloud platforms, majorly by small & medium enterprises among countries in the Asia Pacific region, has accelerated the configure price and quote application market.
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Key Players Operating in the Global Configure Price and Quote (CPQ) Application Market
Key players operating in the global configure price and quote (CPQ) application market are listed below:
- Accenture plc
- Apttus Corporation
- CloudSense Ltd.
- Configure One, Inc.
- FPX, LLC
- Oracle Corporation
- PandaDoc Inc.
- PROS Holdings Inc
- Salesforce.com, Inc
- SAP SE
- Tacton Systems
- Vlocity, Inc
- Yagna iQ Inc.
- Zuora Inc.
Global Configure Price and Quote (CPQ) Application Market: Research Scope
Global Configure Price and Quote (CPQ) Application Market, by Industry
- Banking, Financial Services and Insurance
- IT & Telecom
Global Configure Price and Quote (CPQ) Application Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Configure Price and Quote (CPQ) Application Market, by Deployment Model
- On Premises
- Cloud Based
Figure: Global Configure Price and Quote (CPQ) Application Market, by Deployment Model
Global Configure Price and Quote (CPQ) Application Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Figure: Global Configure Price and Quote (CPQ) Application Market , by Region
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.