Global Proposal Management Software Market - Introduction
- Proposal management software help organizations or enterprises to build, store, and efficiently manage proposals rapidly in a structured manner. Proposal management software provide wide range of tools and features that enable enterprises to easily set up a document in different document formats such as MS Word. Integration with novel technologies such as Artificial intelligence (AI) enhances the capabilities of the software to leverage auto-suggest functionality and responses to quickly answer questions.
- Proposal management software provide users the option to personalize their proposals, which are helpful in communicating an organization’s brand identity to potential clients across the globe. This software can easily support several users to work on the same document. Moreover, through this software a single document can easily be shared by various team members across different countries or time zones in a harmonized manner. Proposal management software help users to easily automate their busy work, save time & money. The software works like a user’s own personal assistant.
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Breakthrough innovation and rise in investment in R&D across enterprises: Key Driver
- Increase in innovations coupled with sophistication in technology and updating organization’s operation framework on a real-time basis for accurate insights are projected to propel the global proposal management software market. Rise in adoption of digitalization by banks, financial companies, IT & telecom, and various other industries has prompted better innovation strategies and increased investments in software advancement.
- The global proposal management software market is witnessing rapid advancements and innovation in technology by well-established and emerging manufacturers in North America, Europe, and Asia Pacific. Technological advancements such as integration of artificial intelligence, cloud-based software integration, and user-friendly software make proposal management easier to use.
- Therefore, breakthrough innovation and rise in investment in R&D are projected to present attractive opportunities in the global proposal management software market in the near future
Cyber security risks & integration capabilities associated with cloud-based proposal management software to hamper global market
- Proposal management software is deployed on the cloud due to proliferation of SaaS based applications, which might also have security concerns as the data on the cloud is a cyber-security concern
- Cyber security risks such as malware attacks and vulnerabilities in cloud-based applications have an adverse effect on proposal management software
- This restraint is expected to have a significant impact in the short-term and moderate impact in the midterm and long-term. However, integration of AI for proposal management software users could reduce the adverse impact on the market during the forecast period. Therefore, cyber security risks and integration capabilities associated with cloud-based proposal management software are expected to restrain the global proposal management software market.
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North America to account for major share of global proposal management software market
- In terms of region, the global proposal management software market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global proposal management software market during the forecast period due to increase in initiatives by enterprises to reduce paper wastage, indicating potential growth of the proposal management software market in the region. Europe is expected to be the second largest market for proposal management software from 2019 to 2027. Rise in demand for visibility & transparency is likely to boost the growth of the proposal management software market in the region.
- Asia Pacific is projected to be a rapidly growing market for proposal management software during the forecast period due to increase in requirement for improving business operations coupled with AI-enabled tools.
Key Players Operating in the Global Proposal Management Software Market
- Deltek, Inc.
- WeSuite LLC
- GetAccept, Inc.
- Nusii Proposal S.L
- iQuoteXpress, Inc.
- Sofon B.V.
Global Proposal Management Software Market: Research Scope
Global Proposal Management Software Market, by Component
- Professional Services
- Deployment & Integration
- Support & Maintenance
Global Proposal Management Software Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Proposal Management Software Market, by End-user
- Retail & E-commerce
- Transportation & Logistics
- Telecom & IT
- Media & Entertainment
- Other (energy & utilities and education)
Global Proposal Management Software Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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