Proposal Management Software Market

  February 10, 2020    |      ICT & Media    |       615


New York City, NY, 10 February, 2020/ 24 Market Reports: It is estimated for the proposal management software market to grow from USD 1.3 billion in 2019 and reach that of USD 3.5 billion by the year 2024. The growth is to be witnessed at a CAGR of 14.10% during the forecast period of 2019 to 2024. Growing focus on developing groundbreaking smart products and factories, increasing need to build a product innovation platform to support proposal management software-enabled applications, and rising demand for cloud-based proposal management software solutions for scalability and secure IT infrastructure are the factors that are propelling the growth of the proposal management software market during the forecast period.

On-premises, by deployment, to hold a larger share in the market during the forecast period

Rather than at a remote facility, the on-premises deployment type is the installation of the proposal management software on the premises of an organization. Besides the service agreement, on-premises are been delivered with a one-time license fee. Also, only the large organizations could afford the deployment of the solution as it requires huge infrastructure and a personal data centre. Hence, the dilemma is always be faced by the SMEs while choosing between the hosted and on-premises solutions.

Advantages such as control over the system and data, and dedicated staff for maintenance and support is been offered by the on-premises deployment type but it also owns some of the drawbacks that include high deployment costs and adequate infrastructure which cannot be afforded by every organization. The development of cloud computing solutions at a rapid pace is hindering the growth of the on-premises deployment type.

Deployment & integration services to witness the growth at a higher CAGR during the forecast period

Infrastructure assessment & planning services, interface design & development, upgrade assistance, and real-time IT support are the inclusions of the deployment & integration services. In configuring, testing and deploying proposal management software these services play a major role. These services play a major role in the efficient installation of the software within an organization’s existing infrastructure.

Services right from planning and deployment to support are been offered by the vendors which also include the evaluation of the complete project lifecycle that includes the above-mentioned phases. They also include software integration with legacy systems that enable rapid deployment. To make sure the system works to improve business efficiency and employee productivity detailed user acceptance testing is conducted after the configuring the software. From installation and configuration to testing, training and going live, a phased implementation approach is been followed by the vendors as per the organization's desired time frame for implementation.

North America to account for the highest share in the global market during the forecast period

Developed countries like the U.S and Canada in the region of North America is driving the growth for the region during the forecast period. The region also adopts new technology easily and this factor is also propelling the growth of the market in the region during the forecast period. The growth of the market is also because the region’s financial position enables it to adapt to the latest tools and technologies and such advantages enable the region to gain the competitive edge in the market as the enterprises are willing to invest in the region considering the above-mentioned points.

The following are the major objectives of the study:

  • To define, describe, and forecast the proposal management software market on the basis of product, application and region.
  • To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
  • To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
  • To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
  • To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the proposal management software market.

Critical Questions which the report answers:

  • What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
  • What are the key revenue generating pockets for proposal management software market and their future potential during next decade?
  • How competitive landscape is evolving in proposal management software market?

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