Product Configurator Software Market Size, Share, Growth, and Industry Analysis, By Type (Cloud-based and On-premises), By Application (Small and Medium Enterprises (SMEs) and Large Enterprises), Regional Forecast From 2024 To 2031

Updated On: 22 April 2024

Product Configurator Software Market Report Overview

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The global product configurator software market size expanded rapidly in 2021. As per our research, the market is expected to generate substantial revenue by 2031, with a robust CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the product configurator software market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Product configurator software is a type of software application that enables businesses to customize their products based on specific customer requirements or preferences. This software allows customers to choose from various options or features to create a personalized product that meets their specific needs.

This software can be used in a variety of industries, including automotive, electronics, furniture, and fashion. It can help businesses increase their revenue by offering customers a personalized experience and reducing the time and resources needed to create customized products manually.

COVID-19 Impact: Pandemic Increased the Market Demand Owing to the Adoption of Remote Work Culture

The COVID-19 pandemic has had some positive effects on the Product Configurator Software market. The pandemic has led to a surge in demand for online sales channels, with many businesses shifting their focus to e-commerce. This has resulted in an increased demand for product configurator software to help businesses offer customized products online. As businesses face increased competition in the online marketplace, there is a growing need for innovative and differentiated products. Product configurator software enables businesses to offer customized products that stand out from the competition, leading to increased sales and customer loyalty. Moreover, the pandemic has accelerated the adoption of digital technologies in many industries, including product customization. This has created new opportunities for businesses to leverage the software to offer customized products online. The increasing adoption of digital technologies is expected to drive the growth of the product configurator software market in the coming years.

Latest Trends

"Increased Use in Manufacturing and Industrial Applications to Fuel the Growth in the Market"

Product configurator software is being increasingly used in manufacturing and industrial sectors to help automate and streamline product design and development. By allowing businesses to create and customize product configurations in real-time, product configurator software can help reduce errors and accelerate the product design process. In addition, it can also help businesses optimize their production processes by enabling them to create more accurate and efficient production plans. For example, businesses can use this software to identify the most popular configurations and adjust their production lines accordingly to meet customer demand. Moreover, this software can help businesses to reduce their inventory levels by allowing them to manufacture products on demand. This can help reduce the costs associated with maintaining large inventories and minimize the risk of overproduction or stock-outs. As a result of these benefits, product configurator software is being increasingly adopted in manufacturing and industrial sectors such as automotive, aerospace, and heavy equipment.

Product Configurator Software Market Segmentation

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• By Type Analysis

According to type, the market can be segmented Cloud-based and On-premises

• By Application Analysis

Based on application, the market can be divided into Small and Medium Enterprises (SMEs) and Large Enterprises

Driving Factors

"Growing Demand for Customized Products to Foster the Market Growth"

Customization is in a constant demand in almost every industry. Putting an idea into an actual form is one of the key demands from the consumers. Therefore, the enhanced capability of the software in recognizing such demands for customization has acted as a key driving factor. Especially, if we talk about fashion industry, where customization is one of the key trends the employment of Product configurator software has become indispensable. This has resulted in the fostering of the product configurator software market growth.

"Increased Adoption of E-Commerce to Result in the Expansion of the Market"

Pandemic had imposed several traveling restrictions on general public and consumers. This has pushed a significant segment of such consumers to shift towards E-commerce platforms for fulfilling their daily requirements. Now although post-COVID the restrictions are slowly being lifted, the consumers are increasingly sticking to these e-commerce websites as they are far more convenient. This has pushed such websites to get smarter and adapt to the needs and the demands of different customers, thereby adopting product configurator software in order to provide each and every consumer with a personalized experience.

Restraining Factors

"Potential Security Vulnerabilities to Hamper the Market Growth"

As customization is being appreciated throughout in all kinds of industries one of the significant factor that comes with customization is loss of privacy. In order to provide a more personal experience these software has to recognize one’s choices through various patterns and this can leave us vulnerable to several privacy threats that can hamper the product configurator software market share.

Product Configurator Software Market Regional Insights

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"North America to Lead the Market Owing to Expansion of the Residential and Commercial Real Estate Market"

During the projected period, the Asia-Pacific region is anticipated to contribute majorly to the growth of the worldwide market. The geographical trends and factors that will affect the market over the course of the projections.  The dominance of this region can be attributed to factors including the expansion of the residential and commercial real estate markets. The three main sources of income are Japan, China, and South Korea. Additionally, increasing adoption of e-commerce services will also boost market expansion throughout the projection period.

Key Industry Players

"Key Players Are Employing Advanced Technologies in Order to Stimulate Further Growth of the Market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Salesforce
• Verenia
• Technicon
• Complete Information Solutions
• 3D Source
• KBMax
• Cincom Systems
• Configure One
• CallidusCloud
• Verenia
• Blue Zebra
• Sofon

Report Coverage

This report examines an understanding of the product configurator software market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.