Proposal Management Software Market to Grow at 14.8% CAGR, Projected to Hit $7 Billion by 2031

Proposal Management Software Market

The growth of the global proposal management software market is driven by tool integration, customization, and the rise of cloud-based solutions.

WILMINGTON, DE, UNITED STATES, January 24, 2025 /EINPresswire.com/ — As per the report published by Allied Market Research, the global proposal management software market generated $1.8 billion in 2021, and is expected to reach $7 billion by 2031, registering a CAGR of 14.8% from 2022 to 2031.

The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenarios, and regional landscapes. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

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Users of proposal management software have the flexibility to customize their submissions, which is beneficial for promoting an enterprise’s brand to prospective customers across the globe. This software makes it simple for multiple users to collaborate on the same document. In addition, using this software is simple for team members to collaborate on a single document while working in different time zones or countries. Software for managing proposals makes it simple for users to automate their hectic work and save time and money. Software functions as user’s personal assistant.

Furthermore, integration with existing tools and customization is the key is boosting the growth of the proposal management software market. In addition, rise of cloud-based proposal solutions is positively impacts growth of the proposal management software market. However, lack of privacy and security is hampering the proposal management solution market growth. On the contrary, adoption of advanced and effective proposal tools is expected to offer remunerative opportunities for expansion during the proposal management software market forecast.

Covid-19 scenario:

1. 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.

2. The shutdown of various plants and factors negatively affected the supply chain and manufacturing, delivery schedules, and sales of products.

3. Digital and artificial intelligence industry gained popularity to manage and control the outbreak.

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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 component, the service segment is expected to portray the highest CAGR of 16.2% during the forecast period. However, the software segment held the largest share in 2021, contributing to nearly three-fifths of the market.

Based on the deployment model, the cloud segment is projected to manifest the highest CAGR of 15.9% during the forecast period. However, the on premise segment held the lion’s share in 2021, accounting for more than half of the market.

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.

Based on industry vertical, the government segment dominated the proposal management software market share in 2021, and is expected to maintain its dominance in the upcoming years. Organizations save literally thousands of hours of time eliminating the mundane and allowing teams to focus on capturing, qualifying, and creating high-quality proposal responses with basic SharePoint configurations, simple plug-ins and ‘me-too’ so called ‘off-the-shelf’ software tools. Octant’s proposal management software platform works with and like the world’s leading business solutions, allowing users to work within the applications they’re most familiar with AND within a role-tailored environment reducing training, driving user adoption, and speeding processes for fast and ongoing return on investment.

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Depending on the region, North America dominated the proposal management software market analysis in 2021, as North America is anticipated to account for the largest share of the proposal management software market during the forecast period, owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.

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.

The report analyzes these key players in the global proposal management software market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments of every market player.

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