DUBLIN--(BUSINESS WIRE)--The "Grant Management Software Market by Component, Function (Document Management, Performance and Outcomes Measurement, and Application Tracking), Platform, Deployment Type, Organization Size, End User, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
- This market study covers the grant management software market size across segments.
- It aims at estimating the market size and the growth potential of this market across different segments, namely, component (solution and services), functions, deployment type, organization size, end-users, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Growing demand to automate the grant process and need to ensure regulatory compliance with advanced reporting to drive the overall growth of the grant management software market
The global grant management software market size is expected to grow from USD 1.1 billion in 2019 to USD 1.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period.
The grant management software market is driven by various factors, such as reducing administrative time and costs, automating report creations and managing complex budgets and performance. However, the integration of grant management solutions with existing communication systems can hinder the growth of the market.
Among grant management software functions, application tracking segment to grow at the highest CAGR during the forecast period
Application tracking helps organizations that receive funds to keep track of grant-related tasks and submit the results to the respective grantors. These tasks mainly include creating and maintaining award documentation, formulating budgets, and ensuring that the funds are utilized in adherence with grantor compliance. Varied end users around the globe are formulating grant management strategies that will help them to manage the entire lifecycle of grants.
Web platform segment to hold the highest market share during the forecast period
The grant management software can be used to develop web-based applications and mobile applications. Web-based applications have several benefits, such as they run on web browsers, and there is no need to create multiple applications for various platforms. Moreover, web-based applications can be used on any browser, regardless of the Operating System (OS) on which the browser is running.
APAC to record the highest growth rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, due to the increase in demand for grant management software and services. Grant management software enables an organization to fine-tune the grant process so that it can align perfectly with the journey of prospects.
The APAC region is expected to experience extensive growth opportunities during the forecast period. China, Japan, and Australia have emerged as undisputed leaders in the grant management software market. Meanwhile, North America is projected to hold the largest market size during the forecast period.
Major vendors offering grant management software and services across the globe include: WizeHive (US), Submittable (US), Oracle (US), Workday (US), Salesforce (US), eCivis (US), Benevity (Canada), SmarterSelect (US), Foundant Technologies (US), Blackbaud (US), Sage (England), SurveyMonkey(Canada), Fluxx (US), Award Force (Australia), Evalto (Spain), Fluent Technology (UK), HTC Global Services (US), ZoomGrants (US), CyberGrants (US) and Altum (US).
The study includes an in-depth competitive analysis of these key players in the grant management software market, with their company profiles, recent developments, and key market strategies.
- Increased Demand for Automating Grant Processes
- Accessibility to Vital Information Anytime, Anywhere, on Any Device
- Addressing Governance and Compliance Requirements
- Integration of AI-Enabled Tools With Grant Management Solutions
- Integrations Between Federal, State, and Local Grant Systems
- Integration of Grant Management Solution With Existing Communication Systems
Companies Profiled (A-Z)
- Award Force
- Fluent Technology
- HTC Global Services
For more information about this report visit https://www.researchandmarkets.com/r/lbapft