The global proposal management software market is estimated to secure a market value of US$ 6.7 Billion by 2032 while expanding at a CAGR of 11.1% during the aforementioned timeframe, concludes Future Market Insights. The growth of the market can be attributed to the increasing demand to streamline business operations and the rapid digitization of enterprises. Also, the integration of modern technologies such as; AI-based tools is expected to offer remunerative opportunities to the market in the coming time.
In addition, the launch of new products in the market is likely to propel the market expansion in the forecast period. In August 2021, Frequence, a renowned advertising sales automation player and workflow software provider, disclosed the launch of SmartProposals.
A first-of-its-kind technology, SmartProposals applies real-time deal-close and campaign performance data to offer and augment local-market media campaign proposals. It analyzes millions of data points from a significant number of media campaigns to provide abled campaign proposals that strengthen media sellers to produce augmented revenue. Owing to such initiatives, the market is likely to flourish significantly in the forecast period.
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Key Takeaways from the Market Study:
- The software segment to expand at a CAGR of 10.9% by 2032
- The on-premises segment to exhibit a CAGR of 10.1% during the forecast period
- Market in the U.S to secure a value of US$ 2.3 Billion by 2032
- Chinese market to expand at a CAGR of 10.4% during the forecast period
- South Korea to record a CAGR of 8.8% by 2032
- Market in the U.K to exhibit a growth rate of 10.1% in the assessment tenure
“Initiatives taken by various organizations to digitize their workplace is expected to favor the market growth in the forecast period. Analysis reveals that the BFSI segment can hold significant opportunities for market expansion in the coming time.”
Competitive Analysis
Key players in the global proposal management software market are Microsoft, WeSuite, Icertis, Deltek, and GetAccept.
- In August 2021, Deltek, an eminent provider of software and solutions for project-based solutions, disclosed that it had secured ArchiSnapper. The initiative would assist architects and engineers to make their business more efficient with better tool management services.
- In March 2022, Deltek, a renowned provider of software and solutions for project-based businesses, and Qarbon Aerospace disclosed the accomplishment of enterprise-wide business systems transformation from Qarbon Aerospace’s legacy solution SAP to Deltek Costpoint.
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Key Segments Profiled In The Proposal Management Software Market Report
Proposal Management Software Market by Component:
- Proposal Management Software
- Proposal Management Services
Proposal Management Software Market by Deployment:
- On-Premises Proposal Management Software
- Cloud-based Proposal Management Software
Proposal Management Software Market by Enterprise Size:
- Proposal Management Software for Large Enterprises
- Proposal Management Software for Small and Medium-Sized Enterprises
Proposal Management Software Market by Vertical:
- Proposal Management Software for Government
- Proposal Management Software for Retail and E-Commerce
- Proposal Management Software for Healthcare and Lifesciences
- Proposal Management Software for BFSI
- Proposal Management Software for Transportation and Logistics
- Proposal Management Software for Manufacturing
- Proposal Management Software for Telecom & IT
- Proposal Management Software for Other Verticals
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Proposal Management Software
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
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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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