Dublin, Nov. 26, 2019 (GLOBE NEWSWIRE) -- 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.
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.
Competitive Landscape
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.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Grant Management Software Market
4.2 Market By Platform (2019 Vs. 2024)
4.3 Market By Functions (2019 Vs. 2024)
4.4 Market By Organization Size (2019 Vs. 2024)
4.5 Market By End Users (2019 Vs. 2024)
4.6 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Automating Grant Processes
5.2.1.2 Accessibility to Vital Information Anytime, Anywhere, on Any Device
5.2.2 Restraints
5.2.2.1 Addressing Governance and Compliance Requirements
5.2.3 Opportunities
5.2.3.1 Integration of AI-Enabled Tools With Grant Management Solutions
5.2.4 Challenges
5.2.4.1 Integrations Between Federal, State, and Local Grant Systems
5.2.4.2 Integration of Grant Management Solution With Existing Communication Systems
6 Grant Management Software Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Need to Automate Grant Processes to Drive the Demand for Grant Management Solution
6.3 Services
6.3.1 Implementation and Integration
6.3.1.1 Simplified Implementation, Ease of Maintenance, and Maximum Return on Investment to Drive the Demand for Grant Management
6.3.2 Training and Education
6.3.2.1 Increasing Shift Towards Digital Grant Applications to Drive the Demand for Training and Education Services in the Grant Management Software Market
6.3.3 Support and Maintenance
6.3.3.1 Growing Demand for On-Time Assistance By Customers to Spur the Demand for Support and Maintenance Services
7 Grant Management Software Market By Function
7.1 Introduction
7.2 Performance and Outcomes Measurement
7.2.1 Growing Need to Measure the Success of Grant Applications Among Enterprises to Drive the Growth of Grant Management Solution
7.3 Document Management
7.3.1 Need to Arrange and Sort Documents for Effective Management of Grant Applications to Drive the Adoption of Grant Management Solution
7.4 Reporting
7.4.1 Increasing Focus of Organizations to Make Data-Driven Decisions to Drive the Adoption of Grant Management Solution and Services
7.5 Application Tracking
7.5.1 Need to Keep Track of the Utilization of Received to Drive the Adoption of Grant Management Solution and Services
7.6 Collaboration
7.6.1 Growing Need to Keep the Team Members Updated at the Single Instance to Drive the Adoption of Grant Management Solution and Services
7.7 Grant Discovery
7.7.1 Need to Identify Relevant Grant Prospects in Minimum Time to Drive the Adoption of Grant Management Solution and Services
7.8 Others
8 Grant Management Software Market By Platform
8.1 Introduction
8.2 Web
8.2.1 Freedom to Access Applications Over Any Browser to Drive the Adoption of Web-Based Grant Management Solution
8.3 Mobile
8.3.1 Proliferation of Mobile Devices to Fuel the Growth of Mobile-Based Grant Management Solution
9 Grant Management Software Market By Deployment Type
9.1 Introduction
9.2 On-Premises
9.2.1 Concern for the Security of Data Among Enterprises to Drive the Adoption of On-Premises Grant Management
9.3 Cloud
9.3.1 On-Demand Availability of Enhanced and Organized Storage to Drive the Adoption of Cloud-Based Grant Management Solution
10 Grant Management Software Market By Organization Size
10.1 Introduction
10.2 Large Enterprises
10.2.1 Growing Need to Deal With an Ample Amount of Data on a Daily Basis to Drive the Adoption of Grant Management Solution
10.3 Small and Medium-Sized Enterprises
10.3.1 Scalability, Flexibility, and Cost Effectiveness are Major Drivers for the Adoption of Grant Management Solution
11 Grant Management Software Market By End Users
11.1 Introduction
11.2 Government
11.2.1 Need to Streamline Grant Processes to Drive the Adoption of Grant Management Solution Among Government Organizations
11.3 Healthcare and Human Services
11.3.1 Need to Manage Entire Grant Management Lifecycle to Drive the Adoption of Grant Management Solution Among Healthcare and Human Services Organizations
11.4 Educational Institutions
11.4.1 Need to Manage Complex Post-Award Reporting for Educational Institutes to Drive the Adoption of Grant Management Solution
11.5 Corporations
11.5.1 Need to Streamline Workflow, Payments, and Reporting to Drive the Adoption of Grant Management Solution and Services
11.6 International and National Organizations
11.6.1 Need to Meet the Compliance Requirement to Drive the Adoption of Grant Management Solution Among International and National Organizations
11.7 Philanthropic Organizations
11.7.1 Need to Plan Fund Strategies to Drive the Adoption of Grant Management Solution Among Philanthropic Organizations
11.8 Others
12 Grant Management Software Market By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.1.1 Increasing Investment By Organizations in Advanced Technologies, Such as Analytics and Ai, to Drive the Adoption of Grant Solution
12.2.2 Canada
12.2.2.1 Need to Align With Information Governance to Drive the Adoption of Grant Management Solution in Canada
12.3 Europe
12.3.1 United Kingdom
12.3.1.1 Increasing Adoption of Predictive Coding Among End Users in the UK to Drive the Adoption of Grant Management Solution
12.3.2 Germany
12.3.2.1 Use of Grant Management Solution for Grant Discovery Practices to Drive the Adoption of Grant Management Solution in Germany
12.3.3 France
12.3.3.1 Need to Meet the Grant Compliance to Lead to the Adoption of Grant Management Solution in France
12.3.4 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.1.1 Globalization of Business to Drive the Adoption of Grant Management Solution in China
12.4.2 Japan
12.4.2.1 Benefits, Such as Management of Huge Data Volume and Cost Effectiveness of Grant Management Solution, to Drive the Overall Market in Japan
12.4.3 Australia
12.4.3.1 Increasing Focus of Enterprises to Review Grant Documents Efficiently Encouraging the Deployment of Grant Management Solution in Australia
12.4.4 Singapore
12.4.4.1 Increasing Demand of Grant Management Services From Financial Organizations Operating in the Country to Drive the Adoption of Grant Management Solution in Singapore
12.4.5 Rest of Asia Pacific
12.5 Middle East and Africa
12.5.1 Saudi Arabia
12.5.1.1 Increasing Investment By Oil Giants in Advanced Technologies to Drive the Grant Management Software Market in Saudi Arabia
12.5.2 United Arab Emirates
12.5.2.1 Reduced Administrative Tasks to Encourage the Adoption of Grant Management Solution in the UAE
12.5.3 South Africa
12.5.3.1 Availability of Data Anywhere and Anytime to Drive the Adoption of Grant Management Solution in South Africa
12.5.4 Rest of Middle East and Africa
12.6 Latin America
12.6.1 Brazil
12.6.1.1 Increasing Investments By Government to Drive the Adoption of Grant Management Solution in Brazil
12.6.2 Mexico
12.6.2.1 Increasing Focus of Enterprises to Protect Information to Drive the Adoption of Grant Management Solution in Brazil
12.6.3 Rest of Latin America
13 Competitive Landscape
13.1 Introduction
13.2 Competitive Scenario
13.2.1 New Product Launches
13.2.2 Partnerships
13.2.3 Acquisitions
14 Company Profiles
14.1 Introduction
(Business Overview, Products, Solutions, & Services, Key Insights, Recent Developments, SWOT Analysis)
14.2 Blackbaud
14.3 Salesforce
14.4 Oracle
14.5 Workday
14.6 WizeHive
14.7 Submittable
14.8 Sage
14.9 eCivis
14.1 CyberGrants
14.11 HTC Global Services
14.12 SurveyMonkey
14.13 Benevity
14.14 SmarterSelect
14.15 Fluxx
14.16 Award Force
14.17 Evalto
14.18 Fluent Technology
14.19 ZoomGrants
14.20 Altum
14.21 Foundant
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