The proposal management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Proposal Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The proposal management software market size has grown rapidly in recent years. It will grow from $2.32 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to increased competition, growing need for efficiency, demand for customization, emergence of remote work, expansion of global markets.
The proposal management software market size is expected to see rapid growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 12%. The growth in the forecast period can be attributed to increased demand for remote collaboration, growing adoption of cloud-based solutions, rising emphasis on process efficiency, expanding use of artificial intelligence (AI) technologies, surge in digital transformation efforts. Major trends in the forecast period include increased integration with CRM systems, rising adoption of AI and machine learning, emphasis on mobile-friendly solutions, growing demand for cloud-based platforms, focus on enhanced security features.
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Scope Of Proposal Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Proposal Management Software Market Overview
Market Drivers –
The rising demand for automated processes is expected to propel the proposal management software market going forward. Automated processes refer to tasks or workflows executed with minimal human intervention, typically using software or technology to perform repetitive actions automatically. The rising demand for process automation is driven by factors such as improving efficiency, reducing errors, and streamlining operations to stay competitive in an increasingly digital and fast-paced business environment. Proposal management software facilitates workflow automation by defining predefined workflows and approval processes. For instance, in January 2022, according to the Department of Digital, Cultural, Media, and Sports, a UK-based government department, businesses are more likely to use AI as they expand; 68% of large organizations, 34% of medium-sized companies, and 15% of small companies have used at least one AI technology. Small businesses comprise the bulk of UK enterprises; the current national adoption rate stands at 15.1% and is projected to increase to 22.7% by 2025, with an estimated 267,000 additional businesses integrating AI into their operations. Therefore, the rise in demand for automated processes is driving the growth of the proposal management software market.
Market Trends –
Companies operating in the proposal management software market are focused on developing advanced technological products, such as automated proposal products, to streamline collaboration, enhance accessibility, and improve scalability for businesses of all sizes. Automated proposal products are designed to assist users in generating high-quality proposals more efficiently by automating tasks such as content generation, formatting, and customization based on user input and predefined templates. For instance, in September 2023, Bright, an Ireland-based accounting software company, launched BrightPropose. This automated proposal product offers features such as branded templates, removing pricing ambiguity, and customization options to ensure consistency and accuracy in client-facing documents. It is a product that reduces the time spent on building accurate and personalized proposals. This innovative solution addresses the challenges accounting professionals face in efficiently generating precise and customized proposals.
The proposal management software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud-Based
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Industry: Government, Transportation And Logistics, Healthcare And Life Sciences, Banking, Financial Services And Insurance (BFSI), Retail And E-Commerce, Manufacturing, Information Technology (IT) And Telecommunications (Telecom), Other Industries
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Regional Insights –
North America was the largest region in the proposal management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the proposal management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the proposal management software market report are Microsoft Corporation; Salesforce Inc.; Deltek Inc.; Conga Inc.; Upland Software Inc.; Icertis; PandaDoc Inc.; Responsive; Loopio Inc.; GetAccept Inc.; Practice Ignition; QorusDocs Ltd.; Qwilr Pty Ltd.; Proposify Inc.; Xait; Sofon Guided Solutions; iQuoteXpress Inc.; Better Proposals; Expedience Software; Bidsketch; Nusii Proposal S.L.; Privia
Table of Contents
- Executive Summary
- Proposal Management Software Market Characteristics
- Proposal Management Software Market Trends And Strategies
- Proposal Management Software Market – Macro Economic Scenario
- Global Proposal Management Software Market Size and Growth
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- Key Mergers And Acquisitions In The Proposal Management Software Market
- Proposal Management Software Market Future Outlook and Potential Analysis
- Appendix
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