Proposal Management Software Global Market Report 2024

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 observed in the historic period can be attributed to several factors, including heightened competition, a rising demand for efficiency, the need for customized solutions, the emergence of remote work practices, and the 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 projected growth in the forecast period can be attributed to several factors, including a heightened demand for remote collaboration tools, increasing adoption of cloud-based solutions, a growing emphasis on process efficiency, the expanding utilization of artificial intelligence (AI) technologies, and a surge in digital transformation initiatives. Key trends anticipated in this period include greater integration with Customer Relationship Management (CRM) systems, a rise in the adoption of AI and machine learning technologies, a focus on mobile-friendly solutions, an increased demand for cloud-based platforms, and an emphasis on enhanced security features.

The surge in demand for proposal management software is anticipated to be fueled by the escalating need for automated processes. Automated processes entail the execution of tasks or workflows with minimal human intervention, leveraging software or technology to carry out repetitive actions automatically. This upsurge in demand for process automation is propelled by various factors including the drive to enhance efficiency, minimize errors, and streamline operations to remain competitive in today's rapidly evolving digital business landscape. Proposal management software plays a pivotal role in facilitating workflow automation by defining predefined workflows and approval processes. According to data from January 2022 released by the Department of Digital, Cultural, Media, and Sports, a UK-based government department, the adoption of AI is on the rise, particularly among expanding businesses. Large organizations lead the pack with a 68% adoption rate, followed by medium-sized companies at 34%, and small enterprises at 15%. Notably, small businesses represent the majority of enterprises in the UK. Presently, the national adoption rate stands at 15.1%, with projections indicating an increase to 22.7% by 2025. This forecast suggests that approximately 267,000 additional businesses will integrate AI into their operations. Hence, the growing demand for automated processes is expected to drive the expansion of the proposal management software market.

Enterprises operating within the proposal management software sector are directing their efforts towards developing cutting-edge technological solutions, notably automated proposal products. These products aim to streamline collaboration, enhance accessibility, and bolster scalability across businesses of varying sizes. Automated proposal products are meticulously crafted to aid users in generating high-caliber proposals more efficiently. They achieve this by automating tasks such as content generation, formatting, and customization based on user input and predefined templates. For example, in September 2023, Bright, an Ireland-based accounting software company, introduced BrightPropose. This automated proposal product boasts features such as branded templates, transparent pricing, and customization options, ensuring consistency and precision in client-facing documents. This innovative solution effectively reduces the time spent on crafting accurate and tailored proposals, addressing the challenges encountered by accounting professionals.

In January 2022, Xait, a leading US software technology firm, completed the acquisition of Jack in the Box for an undisclosed sum. This strategic move positions Xait to bolster its presence in the proposal management software sector, particularly in the French market. The integration of Jack in the Box's expertise in proposal management into Xait's suite of collaborative solutions enhances the company's portfolio for editing mission-critical documents such as bids, proposals, and financial reports. Jack in the Box, based in France, is renowned for its flagship product Proposal Studio, a sophisticated proposal software tailored for project management needs.

Major companies operating in the proposal management software market 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.

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. The countries covered in the proposal management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Proposal management software is a specialized tool tailored to streamline and automate the process of creating, organizing, and monitoring company proposals. It's crucial for organizations frequently involved in bidding for contracts, projects, or collaborations.

This software comprises two main components such as software itself and associated services. The software encompasses computer programs facilitating proposal creation, management, and tracking, offering features like template libraries, collaboration tools, and document tracking. It's adaptable to various deployment types (on-premises or cloud-based) and suits businesses of different sizes, from large enterprises to small and medium-sized ones. Proposal management software finds application across diverse industries, including government, transportation, healthcare, BFSI, retail, manufacturing, IT, telecom, among others.

The proposal management software market research report is one of a series of new reports that provides proposal management software market statistics, including proposal management software industry global market size, regional shares, competitors with a proposal management software market share, detailed proposal management software market segments, market trends and opportunities, and any further data you may need to thrive in the proposal management software industry. This proposal management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The proposal management software market consists of revenues earned by entities by providing services such as proposal creation, document collaboration, and workflow automation. The market value includes the value of related goods sold by the service provider or included within the service offering. The proposal management software market also includes sales of software licenses and subscriptions, as well as associated hardware and infrastructure, which are used in providing the services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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