Global Request for Proposal (RFP) Software Market by Type (On-premises, Cloud-Based), By Application (Small and Medium Enterprises (SMEs), Large Enterprises) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global RFP software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing adoption of cloud-based RFP software by small and medium enterprises (SMEs) and large enterprises. Additionally, the growing demand for RFP software in Asia Pacific and Middle East & Africa is also contributing to the growth of this market. However, lack of awareness about benefits offered by RFP software among end users is restraining the growth of this market.



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Product Definition:

A Request for Proposal (RFP) is a formal document that requests proposals from potential suppliers for a particular product or service. The document usually specifies the requirements that the supplier must meet in order to be considered, and it may also include an outline of the selection process.

The purpose of a Request for Proposal (RFP) is to allow buyers to compare proposals from different suppliers and make an informed decision about which supplier provides the best value.

On-premises:

On-premises, it's usage and growth factor in the RFP software market is expected to witness significant growth over the forecast period. The key drivers attributing to its high demand include reduction in cost of ownership, easy customization & control over business processes along with data security than cloud based solutions. Moreover, on-premise software also provides flexibility as per requirement which is not possible through cloud based solutions.

Cloud-Based:

Cloud-based software is a type of software service that provides functionality to multiple organizations through a network. It helps in storing data on the server and allows multiple users from different locations to access the data simultaneously. The RFPs are stored on the cloud, which makes it available for all employees working from home as well as for clients who are not present at company headquarters.

Application Insights:

The large enterprises segment dominated the global RFP software market in 2017. This can be attributed to factors such as high IT investments by large organizations and preference for off-the-shelf products over custom developed solutions. The SMEs segment is expected to witness lucrative growth over the forecast period owing to increasing penetration of e-commerce, growing demand for online services and rapid urbanization that has created a need for improved public transportation systems, which in turn will drive the adoption of RFQ software among SMEs.

Rising demand from various industries including healthcare, manufacturing and construction is anticipated to boost product adoption across different industry verticals during the forecast period. In addition, governments around the world are increasingly using RFP software as they help them focus on core business activities while reducing paperwork burden associated with procurement processes.

Regional Analysis:

The North America region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing government initiatives, such as Small Business Administration (SBA)’s 8(a) program, which provides funding support for small businesses. Moreover, SMEs are increasingly adopting cloud-based RFP software solutions owing to their cost-effectiveness and ease of use.

Asia Pacific is anticipated to register a lucrative CAGR over the forecast period owing to increasing adoption of cloud computing services in this region coupled with growing demand from small and medium enterprises (SMEs). Furthermore, an increase in spending on IT infrastructure by companies operating across various sectors including manufacturing, healthcare & life sciences & pharmaceuticals has led industry players active across multiple markets including procurement software vendors/service providers; CRM vendors; ERP system integrators; project management firms etc., gain significant traction among Asian companies.

Growth Factors:

Increased demand for RFP software from small and medium-sized businesses (SMBs) due to the growing awareness of the benefits of using such software.
The increasing trend of outsourcing and offshoring services, which is driving the demand for RFP software as it helps organizations find the best service providers globally.
The rising number of private equity firms and venture capitalists, who are increasingly investing in technology companies, is expected to boost the growth of the RFP software market over the next few years.
Growing adoption of cloud-based solutions among enterprises is anticipated to fuel market growth during the forecast period.
Increasing use cases for RFP software across different industries is projected to create new opportunities for market players in coming years


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Scope Of The Report
Report Attributes
Report Details
Report Title
Request for Proposal (RFP) Software Market Research Report
By Type
On-premises, Cloud-Based
By Application
Small and Medium Enterprises (SMEs), Large Enterprises
By Companies
RFPIO, Loopio, RFP365, PandaDoc, Qvidian (Upland Software), DeltaBid, SalesEdge, DirectRFP, SupplierSelect, Paperless Proposal, Synlio, Proposify, Qwilr, Expedience Software, ProcurePort, Qorus Software, R3 WinCenter
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.

Global Request for Proposal (RFP) Software Market Report Segments:
The global Request for Proposal (RFP) Software market is segmented on the basis of:
Types
On-premises, Cloud-Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Small and Medium Enterprises (SMEs), Large Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
RFPIO
Loopio
RFP365
PandaDoc
Qvidian (Upland Software)
DeltaBid
SalesEdge
DirectRFP
SupplierSelect
Paperless Proposal
Synlio
Proposify
Qwilr
Expedience Software
ProcurePort
Qorus Software
R3 WinCenter



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Highlights of The Request for Proposal (RFP) Software Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
On-premises
Cloud-Based
By Application:
Small and Medium Enterprises (SMEs)
Large Enterprises
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Request for Proposal (RFP) Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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Correctly Positioning New Products
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Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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