Bid Management Software will reach at USD 23.2 billion by 2032, For General Contractors Market Upcoming Trends, Segmented by Type, Application, End-User and Region -iSqFt Holdings, Chetu, Sage Software, Pantera Global Technology, Tenderfield, Construction

The global proposal management software market size to grow from USD 2.5 billion in 2021 to USD 23.2 billion by 2032, 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 industry include 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.

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By deployment type, on-premises to hold a larger proposal management software market share during the forecast period
The on-premises deployment type refers to the installation of the proposal management software on the premises of an organization rather than at a remote facility. On-premises solutions are delivered with a one-time licensing fee, along with a service agreement. Furthermore, deployment of the solution requires huge infrastructure and a personal data center, which is affordable only for large organizations. Hence, SMEs often face the dilemma of choosing between the hosted and on-premises solutions.

In spite of its advantages, such as control over the system and data, and dedicated staff for maintenance and support, the on-premises deployment type has various drawbacks, including high deployment costs and adequate infrastructure, that are not always possible for every organization. The growth of the on-premises deployment type is expected to be affected by the rapid development of cloud computing solutions.

The market was studied across External Bid Management Software For General Contractors and Internal Bid Management Software For General Contractors based on Category. Report provides a basic overview of the industry including definitions, classifications, applications and Bid Management Software For General Contractors industry chain structure. Top Companies in this report are: iSqFt Holdings, Chetu, Sage Software, Pantera Global Technology, Tenderfield, Construction Software Technologies, Bid Planroom

Bid Management Software For General Contractors Market Overview:

Bid Management Software For General Contractors Market research is an intelligence report with meticulous efforts to study the right and valuable information. The data considers both the existing top players and the upcoming internet competitors. Global Forecast to 2027 latest report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the Bid Management Software For General Contractors market.This market research report is a compilation of informative data that gives an all-inclusive analysis of the current trend for the forecast period. Our report offers a comprehensive account of the current state of the market and describes its future prospects as well. We also illustrate how to make future business plans based on our predictions.

Recent Developments
In May 2019, Icertis acquired a security instrumentation player, Verodin, for USD 250 million. The Verodin platform complements existing cybersecurity products and technology-enabled services. Verodin would integrate with FireEye Helix's security orchestration capabilities to help its customers prioritize and automate continuous improvement of security controls.
In August 2019, Deltek acquired ComputerEase, which will help Deltek to strengthen its presence in the manufacturing segment.
In February 2019, Deltek formed a strategic alliance with Grant Thornton. The formed alliance assists both private and public enterprises of all sizes to comply with rules, regulations, and standards while accounting using expertise as well as technology.
In March 2019, WeSuite enhanced QuoteAnywhere by releasing QuoteAnywhere G2.0 The new release allows enables sales executives to spend more time with their clients to complete the successful closure of a deal.

Bid Management Software For General Contractors Market Segmentation by Type:

On-premise, Cloud-based.

Bid Management Software For General Contractors Market Segmentation by Application:

Commercial Construction, Residential Construction, Industrial Construction

What Are The Prevailing Opportunities In The Global Proposal Management Software Market?
Growing innovations along with modernization in technology are expected to offer various opportunities for expansion in the coming time. Rapid digitization of BFSI has been identified as the most lucrative opportunity prevailing in the market in the assessment period.

The benefits of using cloud-based software in BFSI are anticipated to drive the market in the forecast period. Innovative customer experiences, efficient collaboration, and better relationships with clients are some of the advantages offered, strengthening the market in the forecast period.

In addition, favorable initiatives taken by players are likely to benefit the market. For instance, in April 2022, Intellect Global Transaction Banking (iGTB) announced that it would integrate Microsoft Cloud for Financial Services to enhance cloud adoption and digital transformation incentives of corporate banks. Such initiatives adopted in the sector are anticipated to propel the industry in the assessment period.

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Cumulative Impact of COVID-19 on Bid Management Software For General Contractors report:

Proposal Management Software to be most Deployed, by Component

Based on components, the software segment is anticipated to lead the global proposal management market during the forecast period. The segment is expected to expand at a CAGR of 10.9% during the forecast period.

Expansion of the segment can be attributed to the growing innovations in various sectors, such as; IT & Telecom, and BFSI. With rapid digitization and increasing adoption of cloud-based software, the segment is expected to augment notably in the forthcoming time. Moreover, growing innovation and rising investment in R&D are expected to offer various lucrative opportunities to the market in the forecast time.

By Deployment, On-Premises Proposal Management Software to be Most Preferred

Based on deployment, the on-premises segment is anticipated to lead the global proposal management market. The segment is expected to witness a growth rate of 10.1% during the forecast period.

Expansion of the segment can be attributed to cost-efficiency. Also, the wide adoption of such solutions by SMEs is another factor propelling the segmental growth during the forecast period.

Region-Wise Analysis Of The Proposal Management Software Market
North America to yield Significant Market Growth Prospects in the Long-Run

As per the analysis, the global market for proposal management software is anticipated to be dominated by North America during the forecast period. The U.S is projected to take lead in the region while exhibiting a CAGR of 10.9%, garnering a market value of US$ 2.3 Billion by 2032. The growth of the regional market can be attributed to the rapid adoption of modern technologies by the established players in the region.

High disposable income and the presence of established players in the region are some of the important factors driving the global proposal management software market in the forecast period. Also, the stable economy, developed infrastructure, and growing initiatives to reduce paper waste are other salient factors strengthening the industry in the region.

In addition, with the growing demand for transparency and visibility, the growth of the proposal management software market is affirmative in North America in the forecast period.
The report answers questions such as:

What Is The Contribution Of Industry Players In Driving The Global Proposal Management Software Market?
Key players in the global proposal management software market are Microsoft, WeSuite, Icertis, Deltek, and GetAccept.

Recent developments in the Industry are as follows:

In March 2022, Deltek, a global provider of software and solutions for project-based businesses, and Qarbon Aerospace announced the completion of enterprise-wide business systems transformation from Qarbon Aerospace's legacy solution SAP to Deltek Costpoint.
In August 2021, Deltek, a globally renowned provider of software and solutions for project-based solutions, announced that it had secured ArchiSnapper. The initiative would help architects and engineers to make their business more efficient with better tool management services.

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