The Quote Management Software Market revenue was recorded at US$ 1.4 Billion in 2021 and is anticipated to grow at a CAGR of 16.9% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 7.6 Billion.
The industries use Cloud-based Quotations Management to speed-up the process of generating quotes for prospective leads and customers, which they can then save and access whenever they need them.
Quote management software enables users to generate quotes for the products and services they offer in a quick and easy manner. The solution is easy to use and allows them to create as many quotes and invoices as they require. The created copies are saved and can be accessed online at any time. The Quote & Invoice Manager allows the companies to quickly generate Quotes & Invoices and link them to the appropriate accounts, contacts, or leads.
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Catalyst CRM, for example, provides SMB traders and manufacturers with free cloud-based quoting software and IT quoting software. Cloud-based sales quoting software can perform tasks or provide services from any location with internet access. Businesses nowadays are demanding web-based software that does their sales-related work automatically, lowering their work pressure.
Furthermore, while on the road, it is difficult for a salesperson to communicate their work progress to their company, and they must fill out paperwork to feed in. Cloud-based software can be used to perform all of a company’s functions.
Key Takeaways from the Market Study
- Global Quote Management Software Market is expected to reach a market size of US$ 1.6 Billion by 2022.
- The CPQ Software segment, is expected to have the highest CAGR rate of 16.6% during the forecast period.
- United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 2.1 Billion during 2022 – 2032.
- The market in US is set to experience the highest CAGR of 16.6% during the 2022-2032 forecast period.
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Competitive Landscape:
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.
The quote management software market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Quote Management Software Market are focused on R&D to produce innovative technological solutions.
- 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.
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Quote Management Software Industry Segmentation:
By Product Type:
- CPQ Software
- Pricing Software
- Proposal Software
- Visual Configuration Software
By Industry:
- Large Enterprises
- SMEs
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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