Configure Price and Quote (CPQ) Application Market Will Escalate Rapidly in the Near Future

August 16, 2021

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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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.

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.

Key players operating in the global configure price and quote (CPQ) application market are listed below: