Global Proposal Management Software Market Report and Forecast 2024-2032

Global Proposal Management Software Market Outlook

The global proposal management software market size reached a value of approximately USD 2.49 billion in 2023. The growth is expected at a CAGR of 14.5% between 2024 and 2032, reaching a value of 8.42 USD billion by 2032.

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Key Trends in the Market

Proposal management software is a type of software that is used to aid users in creating, tracking, and managing various proposals as well as responses to requests for proposal. This software is commonly used across industries by the sales teams of companies, project managers, and freelancers, among others, as it is useful in managing proposals, particularly in large volumes.

• Rising adoption of electronic devices has positively impacted the proposal management software market growth as working individuals are now using a wide range of devices for preparing and managing proposals, increasing the market demand.

• Advantages of proposal management software such as time saving, quick updating of proposals and documents, sale boosting, increasing document hit rate, and acceptance of secure and legally binding electronic signatures, among others, are boosting the demand for proposal management software.

• Increasing focus on developing industry-specific products along with product innovation platforms is one of the major proposal management software market trends. This development will increase the demand and suitability of proposal management software among specific industries, influencing the growth of the market.

Global Proposal Management Software Market Analysis

Based on component, the market is bifurcated into software and service. On the basis of deployment model, the market is categorised into on-premises and cloud. By enterprise size, the market is segmented into large enterprises and small and medium enterprises. On the basis of industry vertical, the market is divided into government, transportation and logistics, healthcare and life science, BFSI, retail and e-commerce, manufacturing, and IT and telecom, among others. Based on region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global proposal management software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Microsoft Corporation

• Icertis, Inc

• GetAccept Inc.

• Earthlingsoft, LLC (Bidsketch)

• Deltek, Inc.

• Nusii Proposals, S.L.

• Practice Ignition Pty Ltd

• RFPIO, Inc

• Proposify Inc

• PandaDoc Inc.

• Others

Global Proposal Management Software Market Share by Deployment Model

On-premises deployment model is anticipated to hold a large share of the market for proposal management software as these solutions offer greater security, confidentiality support, and are provided with a service agreement and a one-time licensing fee. On-premises deployment model is considered cost-efficient and is widely adopted by a large number of small and medium enterprises. Meanwhile cloud deployment model is anticipated to grow significantly over the forecast period due to their advanced reliability and flexibility along with the ability to remove the hassle of updating systems.

Global Proposal Management Software Market Share by Region

North America accounted for a large share in the market for proposal management software and is expected to witness steady growth in the forecast period due to the high rate of adoption of new and emerging technologies. Meanwhile, the market in the Asia Pacific region is also expected to grow significantly in the forecast period owing to the presence of a substantial industrial base in countries like China. Furthermore, the propelling economic state of  countries such as Japan and India is also aiding the expansion of the market for proposal management software in the region.

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Competitive Landscape

Microsoft Corporation is a technology company that was founded in 1975 and headquartered in Washington, United States. It is known for its software and hardware services and products, such as Microsoft Cloud, Microsoft 365, and Microsoft Security, among others.

Icertis, Inc was established in 2009 and has its headquarters in Wahington, United States. It is a software development company that specialises in enterprise contract management, contract intelligence, contract analytics, risk management, contract compliance, and enterprise contract management software.

GetAccept Inc. was founded in 2015 and is based out of California in the United States. The company develops online sales tools for purposes like marketing, sales, and tracking, among other applications.

Other market players include Earthlingsoft, LLC (Bidsketch), Deltek, Inc. Nusii Proposals, S.L., Practice Ignition Pty Ltd, RFPIO, Inc, Proposify Inc, and PandaDoc Inc., among others.

Key Highlights of the Report