New York, July 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Grant Management Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Solution and Services), Deployment Type (Cloud and On-Premise), Organization Size (SMEs and Large Enterprises), and End-User (Educational Institutes, Government, Banks, Non-Profit Organizations, and Others)” The global Grant Management Software market growth is driven by the Implementation of AI with grant management software & increasing use of new technologies.
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| Market Size Value in | US$ 1.31 billion in 2020 |
| Market Size Value by | US$ 2.90 billion by 2027 |
| Growth rate | CAGR of 12.0% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 202 |
| No. Tables | 115 |
| No. of Charts & Figures | 90 |
| Historical data available | Yes |
| Segments covered | Component , Deployment Type , Organization Size , and End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
For most companies, grant management has always been a crucial procedure. Grant management mainly includes administrative tasks, such as grant reporting, funding, and the program's execution. Grant management software helps in managing and automating the entire grant process for fund-seeking organizations, including universities and non-profit organizations. The administrator of grant process management must follow the current standards set by donors. Grant management software also enables organizations to collect detailed online data and provide both online and grant tracking capabilities in a single package. Increasing demand for grant management and donor management software among companies is one of the main factors driving the grant management software market. Further, grant management software helps streamline the application process and efficiently create descriptions of several funding programs. Grant management software allows organizations to monitor the performance and speed of various procedures such as reporting, improving accounting performance, monitoring and audits properly.
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Grant Management Software Market in APAC to grow at highest CAGR During Forecast Period
Increasing number of NGOs, associations, research projects in universities, and other (Corporate Social Responsibility) CSR activities in developing countries, such as Mexico, China, India, and Australia, as well as other Southeast Asian countries, is one of the key factors driving the global grant management software market. Several companies in developing countries offer customized software for both grantors and grant recipients. Further, the increasing use of new technologies is one of the significant contributors to the grant management software market. The automation and digitization of the entire grants process provide an excellent opportunity to measure and reduce risks for grantors and grant recipients. The implementation of advanced technologies such as machine learning (ML) and advanced analytics enables data-driven decisions to help return on grant investments.
The grant management software market in APAC is further segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Rise in smartphone and Internet penetration in Asia Pacific countries is a significant opportunity for the key players in the grant management software market. The market in APAC is anticipated to grow at the highest pace during the forecast period due to increasing demand for grant management software and services. These software allow SMEs and large enterprises to fine-tune the grant process. China, Australia, and Japan are the leaders in the grant management software market in APAC. To empower communities in the region to develop, design, and implement Internet-based solutions, the Information Society Innovation Fund (ISIF Asia) announced three grant programs—Internet for Development Grants, Internet Operations Research Grants, and Cybersecurity Grants—in September 2017. ISIF Asia also offers support and assistance through competitive grants and award processes, with a prime goal to increase the contributions from digital innovators in Asia Pacific.
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The grant management software market is segmented on the basis of component, deployment type, organization size, and end user. The market based on the component is segmented into solutions and services. On the basis of deployment type, the market is segmented into on-premises and cloud. The grant management software market, based on organization size, is segmented into large enterprises, and small and medium enterprises (SMEs). Based on the end user, the market is segmented into educational institutes, government, banks, nonprofit organizations, and others. Based on geography, the grant management software market is broadly segmented into North America, Europe, APAC, the MEA, and SAM. North America led the grant management software market in 2019, followed by Europe and APAC, respectively. The growth of the North American market is primarily attributed to the increasing adoption of grant management software to manage and automate the grant process. In addition, North America is characterized by the presence of well-developed countries, strong industry base, and high technology adoption. However, the COVID-19 pandemic, which was first reported in December 2019, has affected more than 180 countries so far. The pandemic has significantly impacted the grant management software market in 2020, and its impact is likely to continue in 2021 as well.
Key players profiled in the grant management software market report include AmpliFund, CyberGrants, LLC, Fluxx Labs Inc., Oracle Corporation, The Sage Group plc, Salesforce.com, Inc., Submittable Holdings, Inc., SurveyMonkey, WizeHive, Inc., and Workday, Inc.
The global grant management software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the grant management software market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the grant management software market.
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