Market Snapshot:
Proposal Management Software is designed to help sales teams and companies increase sales efficiency and automate the proposal and contract process. It helps in sending quality proposals in less time. It helps to add product configurations, price guidance, quotes, proposals, and execute contracts, helping drive higher revenue and faster profit realization.Analyst at AMA estimates Proposal Management Software market to grow at a compounded annual growth rate of 15.36%, currently pegged at USD1655.97 Million. Asia Pacific is projected to be the fastest-growing market, expanding at a CAGR of 17.19% from 2021 to 2027.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Icertis (United States), Microsoft Corporation (United States), Deltek (United States), WeSuite (United States), GetAccept Inc. (United States), Nusii (Spain), iQuoteXpress (United States), Sofon (Netherlands), Tilkee (France), Practice Ignition Pty Ltd (Australia), Bidsketch (United States), RFPIO (United States), Proposify (Canada), PandaDoc (United States), Bidrik (Sweden), Better Proposals (England), Aarav Software Pvt. Ltd.(India), Zbizlink (United States) and Nibaal (India) |
CAGR | 15.36% |
Segment Analysis
AMA Research have segmented the market of Global Proposal Management Software market by Type, Application and Region. On the basis of Type, On-premises are dominating the market in the year 2021 where as Cloud stood as second largest market share.
On the basis of geography, the market of Proposal Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Increasing Shift to Cloud-Based Technologies
Market Drivers
Proposal Management to Be an Effective Tool for Increasing the Wining Rate of Business Deals and Integration of AI-Enabled Tools With Proposal Management Software
Opportunities
Initiatives From Organizations to Reduce Paper Wastage and Growing Demand among SMEs
Restraints
- Security and Privacy Concerns for Confidential Data and Business Processes
In addition to the aforementioned factor, Proposal Management to Be an Effective Tool for Increasing the Wining Rate of Business Deals
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
In the Proposal Management Software Market, it has been observed that most of the companies are upgrading or introducing innovative services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
The key Players profiled in the study are Icertis (United States), Microsoft Corporation (United States), Deltek (United States), WeSuite (United States), GetAccept Inc. (United States), Nusii (Spain), iQuoteXpress (United States), Sofon (Netherlands), Tilkee (France), Practice Ignition Pty Ltd (Australia), Bidsketch (United States), RFPIO (United States), Proposify (Canada), PandaDoc (United States), Bidrik (Sweden), Better Proposals (England), Aarav Software Pvt. Ltd.(India), Zbizlink (United States) and Nibaal (India). A lot of United States players are profiled in the research study indicating a strong market dependence.