Global Request for Proposal (RFP) Software Market Overview:
The global request for proposal (RFP) software market is moderately fragmented with the presence of more than 50 players globally. Moreover, the market is expected to grow at a significant rate during the forecast period, according to the AMA study. Increasing demand for process automation across different end-use industries such as law firms, finance sector, and construction & engineering sector is one of the major factors aiding into the growth of the market. Moreover, rising adoption of RFP software by small & medium enterprises to build good relations with their new and existing clients is another major factor aiding into the growth of the global RFP Software market.
- Growing Process Automation Across Different End-Use Industries
- Rising Number of Enterprises Globally
- Rising Adoption of Artificial Intelligence and Machine Learning Capabilities in RFP Software Suites
- Transforming Traditional Marketing Activities Into Automated & Effective Marketing Approaches
The vendors in this market are focusing on developing new and innovative products & solutions by adding new features and technologies in their software suites. For instance, UPG Solutions has added a new artificial intelligence feature in its RFP platform RFP360 and the AI component is termed as 'answer intelligence'.
Some of the key players profiled in the report are DirectRFP (United States), RFPIO (United States), Qorus Software (United States), PandaDoc Inc. (United States), Qwilr (Australia), Proposify / Pitch Perfect Software Inc (Canada), Loopio Inc. (Canada), UPG Solutions, LLC (Australia), Cosential, Inc. (United States), Huddle (United Kingdom) and Upland Software, Inc. (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Request for Proposal (RFP) Software market by 2025. Considering Market by , the sub-segment i.e. will boost the Request for Proposal (RFP) Software market.
In March 2018, RFPIO announced that it has added artificial intelligence in their RFP Software to Provide Better Experience for End Users
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Request for Proposal (RFP) Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Request for Proposal (RFP) Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.