How big is the market opportunity for Configure-Price-Quote?
The inherent fragmentation of the CPQ market makes it difficult to accurately size. Determining which verticals and countries have the most spending potential and identifying the companies to target can make the difference between attaining realistic goals or coming up short.
Last month, MGI Research published a new Total Addressable Market (TAM) Forecast in Configure-Price-Quote.
The report predicts global CPQ spend (on-prem and cloud) will grow from $7.4 billion in 2022 to $11.2 billion in 2026, totaling more than $45 billion over five years and growing at a compound annual growth rate (CAGR) of 11%. The cloud-based market is growing even faster.
This webinar discusses key takeaways from the forecast, the impact of major industry trends on CPQ adoption, and how we see this market evolving over the next five years.
The forecast projects that the bulk of spending will come from companies with more than $1 billion in revenues and based in two countries (get the report to find out which ones!). Top-spending industries include industrials, automotive, technology, and construction/engineering.
CPQ vendors, investors, and buyers rely on MGI Forecasts to analyze CPQ spend by key characteristics and even down to the company level. TAM and SAM data are available to MGI clients in custom cuts and can be subdivided down to the individual company level by segments such as company size, geographic regions, industry and sector, and impact from major industry trends like Gen AI, tech adoption styles, shift to subscription, and Internet of Things (IoT), among others.