Proposal Management Software Market is estimated to reach USD 7 Billion by 2031, registering a CAGR of 14.8%
Rapid digitization and favorable initiatives taken by the government of various developing countries are expected to support the market growth
PORTLAND, PORTLAND, OR, UNITED STATE, November 1, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Proposal Management Software Market is estimated to reach USD 7 Billion by 2031, registering a CAGR of 14.8% .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Integration with existing tools and customization and rise of cloud-based proposal management software have boosted the growth of the global proposal management software market. The market across North America dominated in 2021, holding more than two-fifths of the market. The Covid-19 pandemic severely impacted the market due to increase in the number of smartphone users, high adoption of connected devices, and rise in the e-commerce sector.
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The report segments the global proposal management software market on the basis of component, deployment, enterprise size, and region.Based on enterprise size, the large enterprises segment held the largest share in 2021, contributing to around three-fifths of the market. However, the SMEs segment is anticipated to register the highest CAGR of 16.1% during the forecast period.On the basis of industry vertical, the manufacturing segment is projected to register the highest CAGR of 17.8% during the forecast period. However, the government segment held the largest share in 2021, accounting for more than one-fifth of the market.
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The global proposal management software market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2021, holding more than two-fifths of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 17.2% during the forecast period.The global proposal management software market includes an in-depth analysis of the prime market players such as Aarav Software, Bidsketch, Better Proposals, Deltek, Inc., GetAccept, Icertis, iQuoteXpress, Inc., Ignition, Microsoft Corporation, Nusii, Proposify, PandaDoc, RFPIO, Sofon, Tilkee, WeSuite, and Zbizlink.
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Covid-19 Scenario:
• The Covid-19 pandemic severely impacted the market due to increase in number of smartphone users, high adoption of connected devices, and rise in the e-commerce sector. The Covid-19 pandemic created economic challenges and disrupted the supply chain.
• The shutdown of various plants and factors negatively affected the supply chain and manufacturing, delivery schedules, and sales of products.
• Digital and artificial intelligence industry gained popularity to manage and control the outbreak.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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