How the demand for CPQ Software has increased during the COVID Pandemic

Pre COVID Impact on CPQ Software Market

Fluctuating Consumer Behaviour Nudging Companies to Opt for Omni channel Solutions

Fluctuating consumer behavior prompted the companies to focus on multiple channels for driving the sales of their goods and services. This led the companies to integrate digital commerce and other omnichannel applications with the CPQ suites and software. Some of the prominent companies operating in this market are Apttus, Oracle Cloud, and SAP.

The Increasing Number of Acquisitions

Some of the significant acquisitions that occurred within the marketplace are: Bigmachines acquired by Oracle, Salesforce acquiring SteelBrick, Configure One acquired by AutoDesk, and Cameleon Software by PROS. Various CPQ vendors, mostly privately held, find an acquirer or look forward to merging with other companies that can complement their core technologies.

Technological Advancements Generating New Growth Heights for the CPQ Software Market

The integration of machine learning features within the CPQ solutions, along with effective pricing and specific terms to close more deals, has boosted the sales of CPQ software, thereby generating a lucrative scenario for the overall market growth. Rapid advances and improvements in visualization, 3D modeling, and Configuration Lifecycle Management (CLM) also depicted the varying landscape of the CPQ software market.

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