Proposal Management Software Market to Expand with Significant CAGR by 2024

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MarketsandMarkets projects the global proposal management software market size to grow from USD 1.5  billion in 2019 to USD 3.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period. Major factors expected to drive the growth of the proposal management software market include increasing shift to cloud-based technologies, proposal management becoming an effective tool to increase the winning rate of business deals, and integration of AI-enabled tools with proposal management software.

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Key and emerging market players include Icertis (US), Microsoft (US), Deltek (US), WeSuite (US), GetAccept (US), Nusii (Spain), iQuoteXpress (US), Sofon (Netherlands), Tilkee (France), Practice Ignition (Australia), Bidsketch (US), RFPIO (US), Proposify (Canada), PandaDoc (US), Bidrik (Sweden), Better Proposals (England), Aarav Software (India), Zbizlink (US),  Nibaal (India), and Privia (US). These players have adopted various strategies to grow in the proposal management software market.

Deltek offers a wide range of products for enterprises, such as enterprise information solutions, business development solutions, online proofing solutions, and project and portfolio management solutions. The company caters to various industry verticals, such as construction, legal, non-profit organizations, energy, oil, and gas, and healthcare. The company serves 22,000 organizations with its solutions and millions of users in 80 countries across the world. Moreover, the company primarily focuses on organic and inorganic strategies to strengthen its position in the market. The company has partnered with key players in the market to expand its position across the globe and strengthen its proposal management software product portfolio in the market. In August 2019, Deltek acquired ComputerEase; with the acquisition, Deltek will strengthen its offering for the construction industry.

WeSuit specializes in sales solutions, mobile sales prospecting, sales estimating, proposals, commission management, detailed reporting, contract creation, and team management. The company offers Sales Management software that helps its clients to improve operational methodologies and increase sales. The company focuses on building positive and productive relationships with clients, which are the assets for the revenue generations. Moreover, the company primarily focuses on organic and inorganic strategies to strengthen its position in the market. The company has partnered with key players in the market to and strengthen its proposal management software product portfolio in the market.

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