The Quote Management Software Market revenues was recorded at US$ 1.4 Bn in 2021 and is anticipated to grow at a CAGR of 16.9% from 2022-2032, 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 Bn. 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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Catalystk 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 Bn 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 Bn during 2022 – 2032.
● The market in US is set to experience the highest CAGR of 16.6% during the 2022-2032 forecast period.
“During the projected period, the rise of digitization and cloud-based software can become a key driver in raising the Quote Management Software market revenue.” comments a Future Market Insights analyst.
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Competitive Landscape
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.
Market Segments Covered in Quote Management Software Industry Analysis
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
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Quote Management Software Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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