How has the bid management software market evolved, and where is it heading next?
The bid management software market size has grown rapidly in recent years. It will grow from $1.03 $ billion in 2024 to $1.13 $ billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to the increasing adoption of digital tools, growth of e-procurement platforms, globalization of supply chains, and shift toward cloud-based solutions.
The bid management software market size is expected to see strong growth in the next few years. It will grow to $1.65 $ billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to emphasis on digital transformation, rising adoption of AI and automation, increased focus on data analytics, and growing need for collaboration tools. Major trends in the forecast period include increasing incorporation of AI and machine learning, emphasis on cybersecurity, expansion of mobile capabilities, and growth in industry-specific solutions.
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What are the key drivers behind the rapid expansion of the bid management software market?
The growing popularity of cloud-based technologies is expected to propel the growth of the bid management software market going forward. Cloud services refer to a broad category of computing resources and applications delivered over the internet on a subscription basis. Cloud services are rising due to their ability to facilitate remote work, enable digital transformation, and support the scalability and agility needs of modern businesses. Cloud-based technologies in bid management software enable real-time collaboration, data accessibility, and streamlined processes across multiple stakeholders from any location. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of enterprises within the European Union procured cloud computing services, primarily for hosting email systems, storing electronic files, and performing various tasks. Compared to 2021, purchases of cloud computing services among EU enterprises rose by 4% in 2023. Notably, large enterprises exhibited a significant adoption rate, with 77.6% reporting the purchase of such services in 2023, marking a 6% increase from 2021. Therefore, the growing popularity of cloud-based technologies is driving the growth of the bid management software market.
What is the segmentation for the bid management software market?
The bid management softwaremarket covered in this report is segmented –
1) By Type: Cloud Based, Web Based
2) By Company Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Application: Construction Company, General Contractors, Construction Managers, Other Applications
Subsegments:
1) By Cloud-Based Bid Management Software: Public Cloud, Private Cloud, Hybrid Cloud
2) By Web-Based Bid Management Software: SaaS (Software as a Service), Browser-Based Platforms, Custom Web Solutions
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Who are the most influential companies in the bid management software market?
Major companies operating in the bid management software market are BidExpress, Procore, ConstructConnect, Buildertrend, iSqFt, EasyBid, BuildingConnected, Projectmates, BidClerk, EstimateOne, PlanHub, Bidnet Direct, ConstructBuy, Corecon, Pantera Tools, Bid Planroom, eBid Systems, ProcureWare, SmartBid, Textura, VORTAL, Pipeline Suite
What are the most influential trends expected to drive the bid management software market forward?
Major companies operating in the bid management software market are increasing their focus on developing innovative solutions, such as competitive bidding software, to gain a competitive edge in the market. Competitive bidding software is a digital tool designed to streamline and manage the process of competitive bidding, where multiple vendors or contractors submit proposals or bids to win contracts for projects, goods, or services. For instance, in May 2024, Wolters Kluwer N.V., a Netherlands-based information services company, launched Legal Collaborator, a new competitive bidding software. This software aims to improve the engagement process between corporate legal departments and law firms by providing a standardized and transparent bidding process. It offers pre-defined templates that allow users to collect and compare critical details such as conflict waivers, strategies, staffing, and pricing structures. This approach minimizes subjectivity in law firm selection, which is often influenced by personal relationships.
What are the major regional insights for the bid management software market, and which region holds the top position?
North America was the largest region in the bid management software market in 2024. The regions covered in the bid management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Bid Management Software Market Report 2025 Offer?
The bid management software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Bid management software is a specialized digital tool designed to streamline, organize, and automate the process of creating, submitting, and managing bids or proposals in response to requests from clients or purchasing organizations. This software is widely used in industries where competitive bidding is a key part of securing contracts or projects, such as construction, government procurement, and professional services.
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