RFP Software Market Insights Video

According to Cognitive Market Research, the global RFP software market size was USD 2624.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 16.20% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 1049.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 787.35 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 603.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 131.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 52.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031.
• The cloud is the fastest growing segment of the RFP software industry