Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Proposal Management Software Market size is expected to reach $3.9 billion by 2028, rising at a market growth of 13.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 14.1% during (2022 - 2028). The proposal management service includes interface design & development, assessment & planning services, real time IT support, upgrade assistance, and infrastructure assessment & planning services. These services help in deployment and evaluating the efficiency of proposal management software.
The Government segment acquired maximum revenue share in the Global Proposal Management Software Market by Vertical in 2021 thereby, achieving a market value of $829.1 million by 2028. The government could save thousands of hours just by removing the mundane an enabling team to focus on qualifying, capturing and creating high-quality of response to proposal. The need for proposal management software is rising from this segment as the government authorities necessarily need to quickly respond to the questionnaires and create effective & appealing proposals to while launching several initiatives and programs.
The SMEs segment has shown the growth rate of 14.9% during (2022 - 2028). The software provides a competitive edge to the SMEs, which they require to get more contracts within a limited cost. The proposal management software further enables the SMEs to manage the opportunities and create custom proposals which ultimately cuts down the operational cost and time. Also, these enable them to get better insights into past performance.
The On-premise segment is generating highest revenue share in the Global Proposal Management Software Market by Deployment Mode in 2021 thereby, achieving a market value of $2,301 million by 2028. The on-premise deployment means installing the proposal management at the organization instead of deploying it remotely. This type of software is provided with a one-time license and a service agreement. This deployment model is majorly preferred by large enterprises as it requires a vast infrastructure.
The North America market dominated the Global Proposal Management Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028.The Europe market is exhibiting a CAGR of 12.5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 14.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Icertis, Inc., Deltek, Inc. (Roper Technologies, Inc.), WeSuite, LLC, GetAccept, Inc., Nusii Proposals S.L., iQuoteXpress, Inc., Sofon B.V. (Revalize, Inc.), Aarav Solutions Pvt. Ltd., and Practice Ignition Pty Ltd. (Ignition)
By Organization size
By Deployment Mode
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