[305 Pages Report] Expansion of the global proposal management software market is expected to occur at a CAGR of 11.1%, amassing a market revenue of US$ 6.7 Billion by 2032. The market is likely to secure US$ 2.3 Billion in 2022, up from US$ 2 Billion in 2021. From 2021-2022, the expected Y-o-Y growth rate is likely to be 15%.
Rapid digitization and favorable initiatives taken by the government of various developing countries are expected to support market growth in the forecast period.
| Attributes | Details |
|---|---|
| Proposal Management Software Market CAGR (2022 to 2032) | 11.1% |
| Proposal Management Software Market Size (2022) | US$ 2.3 Billion |
| Proposal Management Software Market (2032) | US$ 6.7 Billion |
The growing need to streamline business operations and the rapid digitization of organizations are expected to act as significant factors propelling the market in the forecast period. Furthermore, the integration of modern technologies, such as; AI-based tools, is likely to offer lucrative opportunities for market expansion in the forthcoming period.
The market is expected to be dominated by the USA, while China is expected to be the most lucrative market, exhibiting a CAGR of 10.4% during the forecast period. For instance, in May 2022, Bold Group, a part of EverCommerce’s Security & Alarm solutions, alarm monitoring, and integrated business management software provider, announced the launch of Managely™.
The software offers a modern and flexible user interface that organizations can incorporate with their brand through invoices, credits, dashboards, and proposals.
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The increasing adoption of cloud-based services is anticipated to play a key role in strengthening the global proposal management software market during the forecast period. Also, the growing application of Internet of Things (IoT) services has resulted in the generation of a massive number of data.
The surging adoption of big data and social media platforms has generated a significant need amongst organizations to adopt data analytics software. Integration of modern technologies in organizations helps enterprises to enhance their operations and sustain the rising competition in the market.
The launch of new products in the market is expected to propel the industry expansion in the forecast period. For instance, in August 2021, Frequence, an advertising sales automation leader and workflow software, announced the launch of SmartProposals.
It is a first-of-its-kind technology that uses real-time deal-close and campaign performance data to provide and increase local-market media campaign proposals. It observes millions of data points from an ample number of media campaigns to produce efficient and capable campaign proposals that allow media sellers to generate more revenue. Such product launches are expected to assist the industry expansion during the forecast period.
Other benefits of using an AI-based proposal management software market include increased compatibility, enhanced reliability, and security, among others. Owing to the aforementioned factors, the market is poised to witness notable growth in the assessment tenure.
Growing innovations along with modernization in technology are expected to offer various opportunities for expansion in the coming time. Rapid digitization of BFSI has been identified as the most lucrative opportunity prevailing in the market in the assessment period.
The benefits of using cloud-based software in BFSI are anticipated to drive the market in the forecast period. Innovative customer experiences, efficient collaboration, and better relationships with clients are some of the advantages offered, strengthening the market in the forecast period.
In addition, favorable initiatives taken by players are likely to benefit the market. For instance, in April 2022, Intellect Global Transaction Banking (iGTB) announced that it would integrate Microsoft Cloud for Financial Services to enhance cloud adoption and digital transformation incentives of corporate banks. Such initiatives adopted in the sector are anticipated to propel the industry in the assessment period.
Also, rising financial inclusivity, especially across developing nations is likely to act as a significant opportunity for the market. Favorable initiatives taken by the government are likely to support market growth in the coming time. For instance, the launch of Digital India by the Government of India will benefit the BFSI sector and market in the region during the forecast period.
Principal Consultant
Concerns regarding data privacy and security concerns are expected to hamper the market growth in the forecast period. Cyber security risks like malware attacks and vulnerabilities in cloud-based applications are projected to have a negative impact on market growth.
As the popularity of IoT and cloud technologies is increasing, enterprises are looking for secure methods to protect themselves from growing vulnerabilities and security breaches. Moreover, such software is deployed on the cloud owing to the proliferation of SaaS-based applications, which also have various security issues since the data on the cloud is a cyber-security concern.
However, the integration of AI for proposal management software can help in tackling such challenges. Also, the launch of products by players is likely to assist organizations in countering such situations.
For instance, in May 2019, Icertis announced the acquisition of a security instrumentation player, called, Verodin. Verodin integrated with FireEye Helix’s security orchestration capabilities to assist its customers to automate and prioritize the improvement of security controls. Such initiatives are anticipated to help the market grow in the coming time.
Based on components, the software segment is anticipated to lead the global proposal management market during the forecast period. The segment is expected to expand at a CAGR of 10.9% during the forecast period.
Expansion of the segment can be attributed to the growing innovations in various sectors, such as; IT & Telecom, and BFSI. With rapid digitization and increasing adoption of cloud-based software, the segment is expected to augment notably in the forthcoming time. Moreover, growing innovation and rising investment in Research and Development are expected to offer various lucrative opportunities to the market in the forecast time.
Based on deployment, the on-premises segment is anticipated to lead the global proposal management market. The segment is expected to witness a growth rate of 10.1% during the forecast period.
The expansion of the segment can be attributed to cost efficiency. Also, the wide adoption of such solutions by SMEs is another factor propelling the segmental growth during the forecast period.
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As per the analysis, the global market for proposal management software is anticipated to be dominated by North America during the forecast period. The USA is projected to take the lead in the region while exhibiting a CAGR of 10.9%, garnering a market value of US$ 2.3 Billion by 2032. The growth of the regional market can be attributed to the rapid adoption of modern technologies by established players in the region.
High disposable income and the presence of established players in the region are some of the important factors driving the global proposal management software market in the forecast period. Also, the stable economy, developed infrastructure, and growing initiatives to reduce paper waste are other salient factors strengthening the industry in the region.
In addition, with the growing demand for transparency and visibility, the growth of the proposal management software market is affirmative in North America in the forecast period.
Asia Pacific has been identified as the most lucrative market during the forecast period. As per the analysis, China is expected to dominate the market during the forecast period. The region is likely to procure US$ 475.2 Million while expanding at a CAGR of 10.4% by 2032.
Other lucrative regions, Japan and South Korea have been estimated at US$ 383.2 Million and US$ 239.1 Million respectively. The growth of the regional market can be attributed to the increasing deployment of cloud-based software in various organizations. And also, the growing initiatives of digitization by the government of several developing countries such as; India, China, and others are expected to support the market expansion in the forecast tenure.
| Countries | Estimated CAGR |
|---|---|
| USA | 10.9% |
| UK | 10.1% |
| China | 10.4% |
| Japan | 9.4% |
| South Korea | 8.8% |
Key players in the global proposal management software market are Microsoft, WeSuite, Icertis, Deltek, and GetAccept.
Recent developments in the Industry are as follows:
The global proposal management software market is estimated at US$ 2.3 Billion in 2022
The global proposal management software market is projected to value US$ 6.7 Billion by 2032
The software segment is anticipated to expand at a CAGR of 10.9% by 2032
The USA is projected to hold a market value of US$ 2.3 Billion by 2032
China is predicted to exhibit a CAGR of 10.4% during the forecast period
Japan is expected to garner a market value of US$ 383.2 Million by 2032
1. Executive Summary | Proposal Management Software Market
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$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Market, by Key Countries
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in Optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Growth in Automation, By Country
4.5.3. Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2015 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2015 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Component
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Component, 2015 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Component, 2022 to 2032
8.3.1. Software
8.3.2. Services
8.3.2.1. Deployment and Integration
8.3.2.2. Consulting
8.3.2.3. Support and Maintenance
8.4. Market Attractiveness Analysis By Component
9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Vertical
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Vertical, 2015 to 2021
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Vertical, 2022 to 2032
9.3.1. Government
9.3.2. Retail and eCommerce
9.3.3. Healthcare and Lifesciences
9.3.4. BFSI
9.3.5. Transportation and Logistics
9.3.6. Manufacturing
9.3.7. Telecom & IT
9.3.8. Other verticals (Energy and utilities, Media & Entertainment, and Education)
9.4. Market Attractiveness Analysis By Vertical
10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Deployment Type
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) Analysis By Deployment Type, 2015 to 2021
10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Deployment Type, 2022 to 2032
10.3.1. On-premises
10.3.2. Cloud
10.4. Market Attractiveness Analysis By Deployment Type
11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Enterprise Size
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Million) Analysis By Enterprise Size, 2015 to 2021
11.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Enterprise Size, 2022 to 2032
11.3.1. Large enterprises
11.3.2. Small and Medium-Sized Enterprises
11.4. Market Attractiveness Analysis By Enterprise Size
12. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
12.1. Introduction
12.2. Historical Market Size (US$ Million) Analysis By Region, 2015 to 2021
12.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia Pacific
12.3.5. Middle East and Africa (MEA)
12.4. Market Attractiveness Analysis By Region
13. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
13.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. United States of America
13.4.1.2. Canada
13.4.1.3. Rest of North America
13.4.2. By Component
13.4.3. By Vertical
13.4.4. By Enterprise Size
13.4.5. By Deployment Type
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Component
13.5.3. By Vertical
13.5.4. By Enterprise Size
13.5.5. By Deployment Type
14. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. Brazil
14.4.1.2. Mexico
14.4.1.3. Rest of Latin America
14.4.2. By Component
14.4.3. By Vertical
14.4.4. By Enterprise Size
14.4.5. By Deployment Type
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Component
14.5.3. By Vertical
14.5.4. By Enterprise Size
14.5.5. By Deployment Type
15. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
15.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. Germany
15.4.1.2. France
15.4.1.3.United Kingdom
15.4.1.4. Italy
15.4.1.5. Benelux
15.4.1.6. Nordic Countries
15.4.1.7. Rest of Europe
15.4.2. By Component
15.4.3. By Vertical
15.4.4. By Enterprise Size
15.4.5. By Deployment Type
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Component
15.5.3. By Vertical
15.5.4. By Enterprise Size
15.5.5. By Deployment Type
16. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
16.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.1.4. Rest of Asia Pacific
16.4.2. By Component
16.4.3. By Vertical
16.4.4. By Enterprise Size
16.4.5. By Deployment Type
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Component
16.5.3. By Vertical
16.5.4. By Enterprise Size
16.5.5. By Deployment Type
17. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
17.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
17.4.1. By Country
17.4.1.1. GCC Countries
17.4.1.2. South Africa
17.4.1.3. Turkey
17.4.1.4. Rest of Middle East and Africa
17.4.2. By Component
17.4.3. By Vertical
17.4.4. By Enterprise Size
17.4.5. By Deployment Type
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Component
17.5.3. By Vertical
17.5.4. By Enterprise Size
17.5.5. By Deployment Type
18. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. US Market Analysis
18.2.1. Value Proportion Analysis by Market Taxonomy
18.2.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.2.2.1. By Component
18.2.2.2. By Vertical
18.2.2.3. By Enterprise Size
18.2.2.4. By Deployment Type
18.3. Canada Market Analysis
18.3.1. Value Proportion Analysis by Market Taxonomy
18.3.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.3.2.1. By Component
18.3.2.2. By Vertical
18.3.2.3. By Enterprise Size
18.3.2.4. By Deployment Type
18.4. Mexico Market Analysis
18.4.1. Value Proportion Analysis by Market Taxonomy
18.4.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.4.2.1. By Component
18.4.2.2. By Vertical
18.4.2.3. By Enterprise Size
18.4.2.4. By Deployment Type
18.5. Brazil Market Analysis
18.5.1. Value Proportion Analysis by Market Taxonomy
18.5.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.5.2.1. By Component
18.5.2.2. By Vertical
18.5.2.3. By Enterprise Size
18.5.2.4. By Deployment Type
18.6. Germany Market Analysis
18.6.1. Value Proportion Analysis by Market Taxonomy
18.6.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.6.2.1. By Component
18.6.2.2. By Vertical
18.6.2.3. By Enterprise Size
18.6.2.4. By Deployment Type
18.7. France Market Analysis
18.7.1. Value Proportion Analysis by Market Taxonomy
18.7.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.7.2.1. By Component
18.7.2.2. By Vertical
18.7.2.3. By Enterprise Size
18.7.2.4. By Deployment Type
18.8. Italy Market Analysis
18.8.1. Value Proportion Analysis by Market Taxonomy
18.8.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.8.2.1. By Component
18.8.2.2. By Vertical
18.8.2.3. By Enterprise Size
18.8.2.4. By Deployment Type
18.9. BENELUX Market Analysis
18.9.1. Value Proportion Analysis by Market Taxonomy
18.9.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.9.2.1. By Component
18.9.2.2. By Vertical
18.9.2.3. By Enterprise Size
18.9.2.4. By Deployment Type
18.10. UK Market Analysis
18.10.1. Value Proportion Analysis by Market Taxonomy
18.10.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.10.2.1. By Component
18.10.2.2. By Vertical
18.10.2.3. By Enterprise Size
18.10.2.4. By Deployment Type
18.11. Nordic Countries Market Analysis
18.11.1. Value Proportion Analysis by Market Taxonomy
18.11.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.11.2.1. By Component
18.11.2.2. By Vertical
18.11.2.3. By Enterprise Size
18.11.2.4. By Deployment Type
18.12. China Market Analysis
18.12.1. Value Proportion Analysis by Market Taxonomy
18.12.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.12.2.1. By Component
18.12.2.2. By Vertical
18.12.2.3. By Enterprise Size
18.12.2.4. By Deployment Type
18.13. Japan Market Analysis
18.13.1. Value Proportion Analysis by Market Taxonomy
18.13.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.13.2.1. By Component
18.13.2.2. By Vertical
18.13.2.3. By Enterprise Size
18.13.2.4. By Deployment Type
18.14. South Korea Market Analysis
18.14.1. Value Proportion Analysis by Market Taxonomy
18.14.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.14.2.1. By Component
18.14.2.2. By Vertical
18.14.2.3. By Enterprise Size
18.14.2.4. By Deployment Type
18.15. GCC Countries Market Analysis
18.15.1. Value Proportion Analysis by Market Taxonomy
18.15.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.15.2.1. By Component
18.15.2.2. By Vertical
18.15.2.3. By Enterprise Size
18.15.2.4. By Deployment Type
18.16. South Africa Market Analysis
18.16.1. Value Proportion Analysis by Market Taxonomy
18.16.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.16.2.1. By Component
18.16.2.2. By Vertical
18.16.2.3. By Enterprise Size
18.16.2.4. By Deployment Type
18.17. Turkey Market Analysis
18.17.1. Value Proportion Analysis by Market Taxonomy
18.17.2. Value Analysis and Forecast by Market Taxonomy, 2015 to 2032
18.17.2.1. By Component
18.17.2.2. By Vertical
18.17.2.3. By Enterprise Size
18.17.2.4. By Deployment Type
18.17.3. Competition Landscape and Player Concentration in the Country
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Share Analysis of Top Players
19.4. Market Presence Analysis
19.4.1. By Regional Footprint of Players
19.4.2. Product Footprint by Players
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
20.3.1. Icertis
20.3.1.1. Overview
20.3.1.2. Product Portfolio
20.3.1.3. Sales Footprint
20.3.1.4. Strategy Overview
20.3.2. Microsoft
20.3.2.1. Overview
20.3.2.2. Product Portfolio
20.3.2.3. Sales Footprint
20.3.2.4. Strategy Overview
20.3.3. Deltek
20.3.3.1. Overview
20.3.3.2. Product Portfolio
20.3.3.3. Sales Footprint
20.3.3.4. Strategy Overview
20.3.4. WeSuite
20.3.4.1. Overview
20.3.4.2. Product Portfolio
20.3.4.3. Sales Footprint
20.3.4.4. Strategy Overview
20.3.5. GetAccept
20.3.5.1. Overview
20.3.5.2. Product Portfolio
20.3.5.3. Sales Footprint
20.3.5.4. Strategy Overview
20.3.6. Nusii
20.3.6.1. Overview
20.3.6.2. Product Portfolio
20.3.6.3. Sales Footprint
20.3.6.4. Strategy Overview
20.3.7. iQuoteXpress
20.3.7.1. Overview
20.3.7.2. Product Portfolio
20.3.7.3. Sales Footprint
20.3.7.4. Strategy Overview
20.3.8. Sofon
20.3.8.1. Overview
20.3.8.2. Product Portfolio
20.3.8.3. Sales Footprint
20.3.8.4. Strategy Overview
20.3.9. Tilkee
20.3.9.1. Overview
20.3.9.2. Product Portfolio
20.3.9.3. Sales Footprint
20.3.9.4. Strategy Overview
20.3.10. Practice Ignition
20.3.10.1. Overview
20.3.10.2. Product Portfolio
20.3.10.3. Sales Footprint
20.3.10.4. Strategy Overview
21. Assumptions and Acronyms Used
22. Research Methodology
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Proposal Management Software Market
