Proposal management is a process that involves implementing specific techniques and actions in an effort to improve team collaboration and proposal quality. However, in today’s fast paced business environment, managers require efficient tools to effectively create proposals. For such managers, proposal management software or solutions help in creating, storing and managing proposals quickly and in a refined way.
The global proposal management software market size is anticipated to reach approximately USD 4.1 billion by 2025. This can be attributed to ongoing automation across organizations and sales teams’ effort to automate proposal making process, increase sales efficiency and conversion. Also, the integration of AI is proving to be important factor in the growing demand for proposal management software.
However, most of the recent proposal management software are cloud based which raises measure security concern over confidential business data. This is a key factor to hamper the proposal management software market growth. Furthermore, increasing number of SMEs and startups are expected to create lucrative opportunities for the market in the forthcoming years.
Key Segments of the Global Proposal Management Software Market
Component Overview, 2018-2025 (USD Billion)
- Deployment and Integration
- Support and Maintenance
Deployment Mode Overview, 2018-2025 (USD Billion)
Enterprise Size Overview, 2018-2025 (USD Billion)
- Large Enterprises
Industry vertical Overview, 2018-2025 (USD Billion)
- IT & telecom
- Government and Defense
Regional Overview, 2018-2025 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Proposal Management Software market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global proposal management software market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Proposal Management Software industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, deployment mode, enterprise size, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global proposal management software market. The report will benefit: Every stakeholder involved in the Proposal Management Software market.
- Managers within the proposal management software industry looking to publish recent and forecasted statistics about the global Proposal Management Software market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Proposal Management Software market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Today, the markets have become highly competitive. With the ongoing digital transformation, organizations are digitizing and automating every possible business function or process. The proposals and contract management are the key processes in sales, and sales teams are always looking to improve sales efficiency and increase conversion rates. The proposal management software is a key solution for such sales teams, as such software reduce the turnaround time once the RFP is generated. Also, with the availability of AI and cloud based solutions the proposal management process becoming highly effective and conversion rates are comparatively higher. With the rise in number of SME’s and developing startup, there will be significant demand for proposal management software in future.
Based on the component segment, the market is divided into software and services. In 2019, the software segment gathered the highest market revenue and it is anticipated to dominate the proposal management software market throughout the forecast period. However, the services segment is expected to gather the highest growth throughout the forecast period.
Industry Vertical Segment
Based on industry vertical, the market is bifurcated into IT & telecom, BFSI, retail, healthcare, government and defense, manufacturing, and others. In 2019, the IT & Telecom segment captured the highest market revenue and is anticipated to dominate the proposal management software market throughout the forecast period. The growth of this segment is mainly attributed to the higher level of awareness and early adoption of such solutions.
The North America region dominated the overall market in 2019 and it is expected to do so throughout the forecast period 2020-2025. The dominance of this region mainly attributed to the presence of major market players such as Microsoft, Icertis, Deltek, Proposify, and others in this region. Also, early awareness and adoption is also the key market driver for this region. However, the Asia-Pacific region is anticipated to experience the highest growth during the forecast period. The growth of this region is mainly accredited to rapid digital transformation in the region as well as presence of large number of SMEs.
The major players of the global proposal management software market are Icertis, Microsoft, Deltek, WeSuite, GetAccept, Nusii, iQuoteXpress, Sofon, Tilkee and Proposify. The recognized companies are coming up with updated solutions and services, especially in integration with Artificial Intelligence and cloud. The leading companies are investing into both organic as well as in-organic growth strategies.