Newly released Quote Management Software Market analysis report by Future Market Insights shows that global sales of Quote Management Software Market in 2021 was held at USD 1.4 Billion. With 16.9% projected growth, the market in 2032 is expected to reach a valuation of USD 7.6 Billion. CPQ .
| Attributes | Details |
|---|---|
| Global Quote Management Software Market Size (2022) | USD 1.6 Billion |
| Global Quote Management Software Market Size (2032) | USD 7.6 Billion |
| Global Quote Management Software Market CAGR (2022 to 2032) | 16.9% |
| USA Quote Management Software Market Size (2032) | USD 2.7 Billion |
| Key Companies Covered | Callidus Software; ConnectWise Inc.; FPX, LLC; Apttus Corporation; IBM Corporation; Oracle Corp; Model N, Inc.; Salesforce.com; Vendavo, Inc.,; Aspire Technologies, Inc.; Cincom Systems, Inc.; PROS, Inc.; SAP AG |
Software is expected to be the highest revenue-generating category, projected to register a CAGR of 16.6% during 2022 to 2032.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As per the Quote Management Software Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Quote Management Software Market increased at around 19.5% CAGR.
The quote management software helps to organize the workflow, integrate it with other critical business functions, and boost the sales team's productivity. Quote management software also helps keep the quotes together, win clients, and bring in revenue by digitizing the creation and emailing of professional quotes, as well as the preservation of shipping and billing details.
Quotation management software handles the job of designing and creating a quotation for the buyer. Although the degree of automation varies depending on technology and business needs, a quote management system collects data from multiple sources, synthesizes product, shipping, and buyer information, and then generates an individualized quote.
Quote Management Software ensures that sales operations are consistent. It also ensures that the company's functions are unified and reliable by delivering reliable pricing and discounts and reflecting a strong brand image in the quotes. Using quote management software, new products can be automatically updated, and configurations and price increases can be adjusted as needed. Query processing can also be accelerated by automatically sending information and approval requests to authorized sales team managers. Quote management software, which provides real-time sales and customer data, also helps CRM.
Quote Management Software necessitates participation and cooperation among the business units of the organization. If the pricing and quote management software is implemented purely by the sales team without the participation or consultation of other departments such as IT, finance, or product management, it is possible that it will fail. As a result, a lack of coordination among enterprise business units is a significant impediment to the growth of the pricing and quote management software market.
One of the key factors driving the demand for the Quote Management Software market is the growing need for improved productivity. With the help of Quote Management Software, the user or management personnel can increase productivity and reduce paperwork and documentation. Quote Management Software can also help businesses reduce overall pricing costs by speeding up the quoting or pricing process.
Closing deals is the most difficult part of the sales process for nearly 35% of salespeople. Quote management software will significantly improve their chances of closing a sale by automating the negotiation between parties and relieving their sales team of the most repetitive and error-prone part of the process.
Another factor driving the market growth is cloud-based quote management software, which saves organizations time by simplifying and streamlining the quote management process. Because of the cloud-based model, users can access applications from any location using their laptops, smartphones, or desktop computers.
Principal Consultant
North America is the most lucrative region with double-digit projected growth. According to the Forrester Sales Activity Study, quoting is one of the most important opportunities for increasing sales productivity.
In Canada, ConnectWise Sell software is widely used in quoting. ConnectWise Sell is an IT solution provider’s quote and proposal automation software. ConnectWise Sell provides a number of tools to help IT solution providers save time, quote more, and win big.
The United States is expected to account for the largest market share of USD 2.7 Billion by the end of 2032 with North America being the dominant player and accounting for over 35% of total sales. A number of software development-related trends in technology in the United States are pointing to significant changes affecting the future of quote management software development work, such as a shift to scalable solutions, a bigger focus on data, the integration of IT and non-IT industries, and the cloud as the dominant computing paradigm.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
CPQ Software segment is forecasted to grow at the highest CAGR of over 16.6% during 2022-2032. Configure Price Quote (CPQ) software is used by businesses in a variety of industries to generate quotes and process orders for configurable products. CPQ software solutions are in high demand due to the growing demand for increased productivity in enterprises and businesses. Demand for CPQ applications is increasing due to the increased adoption of automation solutions by various enterprises that seek to save time and money. Another key growth driver is the need to reduce sales staff’s reliance on documentation and paperwork.
Demand for CPQ software mobile applications is being driven by increased enterprise mobility and smartphone adoption in enterprise settings. CPQ software solutions are becoming more popular as a result of several innovations that benefit e-commerce applications. Open-source CPQ software is likely to stifle market growth. Other factors influencing CPQ software adoption include high upfront and ongoing costs, as well as the difficulty of scaling to partners and channels.
DealHub reinvents CPQ by combining corporate CPQ, subscription management, contract lifecycle management, and virtual deal rooms into a solitary, vibrant quoting and contracting platform driven by the most interactive and customizable self-service buyer experience on the market. The next-generation hybrid commerce engine from DealHub combines the scope and reliability of a custom-coded CPQ solution with the agility of a company-designed no-code ecosystem, enabling simple configuration and continuous changes.
The Large Enterprise segment is forecasted to grow at the highest CAGR of over 16.5% during 2022-2032. Quote management software assists large enterprises in gaining accurate insight into critical sales functions by providing real-time access to accurate data. Client information, schedules, performance details, and transaction history are all displayed clearly, allowing users to better understand their business and make necessary changes. By utilizing intelligent reporting tools and templates, insights derived from quote management software can be embedded and used by other functions of a large business. Information obtained from quote management software could be merged and is used by other features of a large company using intelligent reporting toolkits.
The built-in quotation management system in Fieldpoint, for instance can automatically change customer quotes into work orders. Instead of generating a new work order, the technicians can provide an on-the-spot quote for additional work that can be added to an existing one. The portal can be used to add parts and job tasks, as well as apply special customer pricing and taxes and send quotes to customers.
The leading pricing and quote management software vendors are Callidus Software, ConnectWise Inc., FPX, LLC, Apttus Corporation, IBM Corporation, Oracle Corp, Model N, Inc., Salesforce, Vendavo, Inc., Aspire Technologies, Inc., Cincom Systems, Inc., PROS, Inc., and SAP AG. To gain a competitive advantage in the industry, these market players are investing in product launches, partnerships, mergers and acquisitions, and expansions.
Some of the key recent developments in quote management software market are as follows:
In January 2022, Vendavo, a provider of AI-enabled SaaS price optimization and CPQ solutions, reported record expansion and client software retention during a difficult year. Accel-KKR and current owner Francisco Partners will both make significant strategic investments in Vendavo in 2021. This investment will be used by Vendavo to accelerate product development in order to meet client demands for new B2B commercial solutions in 2022, fund future go-to-market strategies, and accelerate partnership and merger and acquisition opportunities.
In May 2021, Cincom Systems, Inc. announced the launch of CPQSync Self-Serve, a B2B commerce experience designed for companies that sell complex, highly configurable products, and services. Customers can use CPQSync to configure products, obtain pricing, and view quotes in real-time. Cincom's CPQSync SaaS solution simplifies the purchase and sale of complex products and services. The solution is powered by the Microsoft Power Platform and is fully integrated with Microsoft Dynamics 365 for Sales, Finance, and Supply Chain.
Similarly, recent developments related to companies in Quote Management Software Market have been tracked by the team at Future Market Insights, which are available in the full report.
The global Quote Management Software Market is worth more than USD 1.4 Billion at present.
The value of Quote Management Software Market is projected to increase at a CAGR of around 16.9% during 2022 to 2032.
The value of Quote Management Software Market increased at a CAGR of around 19.5% during 2017 to 2021.
The increasing demand for increased productivity, lowering overall pricing and Quote Management Software in the Cloud, stands as the key trend in the Quote Management Software market.
The market for Quote Management Software Market in US is projected to expand at a CAGR of around 16.6% during 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Quote Management Software Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Quote Management Software Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product Type 8.1. CPQ Software 8.2. Pricing Software 8.3. Proposal Software 8.4. Visual Configuration Software 9. Global Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Industry 9.1. Large Enterprises 9.2. SMEs 10. Global Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. Middle East and Africa (MEA) 11. North America Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 12. Latin America Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. Europe Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Asia Pacific Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Middle East and Africa Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Key Countries Quote Management Software Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. Accenture Plc 18.2. Apttus Corp. 18.3. Aspire Technologies Inc. 18.4. Cincom Systems Inc. 18.5. International Business Machines Corp. 18.6. Infor Inc. 18.7. Oracle Corp. 18.8. Salesforce 18.9. SAP SE 18.10. Sigma Systems Canada LP 19. Assumptions and Acronyms Used 20. Research Methodology
Explore Technology Insights
View Reports
Quote Management Software Market
