The global proposal management software market is estimated to secure a market value of US$ 6.7 Billion by 2032 while expanding at a CAGR of 11.1% during the aforementioned timeframe, concludes Future Market Insights. The growth of the market can be attributed to the increasing demand to streamline business operations and the rapid digitization of enterprises. Also, the integration of modern technologies such as; AI-based tools is expected to offer remunerative opportunities to the market in the coming time.
In addition, the launch of new products in the market is likely to propel the market expansion in the forecast period. In August 2021, Frequence, a renowned advertising sales automation player and workflow software provider, disclosed the launch of SmartProposals.
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A first-of-its-kind technology, SmartProposals applies real-time deal-close and campaign performance data to offer and augment local-market media campaign proposals. It analyzes millions of data points from a significant number of media campaigns to provide abled campaign proposals that strengthen media sellers to produce augmented revenue. Owing to such initiatives, the market is likely to flourish significantly in the forecast period.
Key Takeaways from the Market Study:
- The software segment to expand at a CAGR of 10.9% by 2032
- The on-premises segment to exhibit a CAGR of 10.1% during the forecast period
- Market in the U.S to secure a value of US$ 2.3 Billion by 2032
- Chinese market to expand at a CAGR of 10.4% during the forecast period
- South Korea to record a CAGR of 8.8% by 2032
- Market in the U.K to exhibit a growth rate of 10.1% in the assessment tenure
Competitive Analysis
Key players in the global proposal management software market are Microsoft, WeSuite, Icertis, Deltek, and GetAccept.
- In August 2021, Deltek, an eminent provider of software and solutions for project-based solutions, disclosed that it had secured ArchiSnapper. The initiative would assist architects and engineers to make their business more efficient with better tool management services.
- In March 2022, Deltek, a renowned provider of software and solutions for project-based businesses, and Qarbon Aerospace disclosed the accomplishment of enterprise-wide business systems transformation from Qarbon Aerospace’s legacy solution SAP to Deltek Costpoint.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global proposal management software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of component (software and services), deployment (on-premises and cloud), enterprise size (large enterprises and small and medium-sized enterprises), and vertical (government, retail and e-commerce, healthcare and life sciences, BFSI, transportation and logistics, manufacturing, telecom & IT and other verticals) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)
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