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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.