Dublin, May 20, 2020 (GLOBE NEWSWIRE) -- The "Award Management Software Market by Component, Function (Entry Management, Judging Management, Reporting and Analytics, and Application Tracking), Platform, Deployment Type, Organization Size, End User, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The total award management software market size is expected to grow from USD 5,58,950 thousand in 2020 to USD 8,55,802 thousand by 2025, at a Compound Annual Growth Rate of 8.9% during the forecast period.
The award management software market is driven by various factors, such as reducing administrative time and costs, automating report creations to keep a track on award processes. However, the unification of award management solution with the existing communication system can hinder the growth of the market.
By award management software function, the application tracking segment to grow at the highest CAGR during the forecast period.
Application tracking helps organizations to keep a track of award entries, evaluation of applications, and deciding the winner. The application tracking application includes creating and maintaining award documentation, formulating budgets, and ensuring that the funds are utilized in adherence with the required compliance. Varied end users around the globe are formulating award management strategies that will help them to manage the entire lifecycle of awards.
Web platform segment to hold a higher market share during the forecast period.
The award 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.
Asia Pacific to record the highest growth rate during the forecast period.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, due to the increasing demand for award management software and services. Award management software enable an organization to fine-tune the award 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, Australia, and Singapore have emerged as undisputed leaders in the award management software market. Meanwhile, North America is projected to hold the largest market size during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Award Management Software Market, by Platform (2020 Vs. 2025)
4.3 Market, by Function (2020 Vs. 2025)
4.4 Market, by Organization Size (2020 Vs. 2025)
4.5 Market, by End User (2020 Vs. 2025)
4.6 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Automating Award Management Processes
5.2.1.2 One-Tap Accessibility to Vital Information
5.2.2 Restraints
5.2.2.1 Obligations for Addressing Governance and Compliance Requirements
5.2.3 Opportunities
5.2.3.1 Integration of Ai-Enabled Tools with Award Management Solution
5.2.4 Challenges
5.2.4.1 Meeting Requirements of Data Security and Privacy Concerns
5.2.4.2 Unification of Award Management Solution with Existing Communication Systems
5.3 Use Cases
5.3.1 Use Case 1: Ease in Data Export of Participants of the Award Program
5.3.2 Use Case 2: Faster Evaluation and Launch of the Contest
5.3.3 Use Case 3: Management of Award Process for 11 Different Categories in Sports
6 Impact of Covid-19 on the Award Management Software Market
7 Award Management Software Market, by Component
7.1 Introduction
7.2 Solution
7.2.1 Solution: Market Drivers
7.3 Services
7.3.1 Services: Market Drivers
7.3.2 Implementation and Integration
7.3.3 Consulting and Training
7.3.4 Support and Maintenance
8 Award Management Software Market, by Function
8.1 Introduction
8.2 Entry Management
8.2.1 Entry Management: Market Drivers
8.3 Judging Management
8.3.1 Judging Management: Market Drivers
8.4 Reporting and Analytics
8.4.1 Reporting and Analytics: Market Drivers
8.5 Application Tracking
8.5.1 Application Tracking: Market Drivers
8.6 Others
9 Award Management Software Market, by Platform
9.1 Introduction
9.2 Web
9.2.1 Web: Market Drivers
9.3 Mobile
9.3.1 Mobile: Market Drivers
9.3.2 Iphone Operating System
9.3.3 Android
9.3.4 Windows
10 Award Management Software Market, by Deployment Type
10.1 Introduction
10.2 On-Premises
10.2.1 On-Premises: Market Drivers
10.3 Cloud
10.3.1 Cloud: Market Drivers
11 Award Management Software Market, by Organization Size
11.1 Introduction
11.2 Large Enterprises
11.2.1 Large Enterprises: Market Drivers
11.3 Small and Medium-Sized Enterprises
11.3.1 Small and Medium-Sized Enterprises: Market Drivers
12 Award Management Software Market, by End User
12.1 Introduction
12.2 Governments
12.2.1 Governments: Market Drivers
12.3 Educational Institutions
12.3.1 Educational Institutions: Market Drivers
12.4 Corporations
12.4.1 Corporations: Market Drivers
12.5 Industry Associations
12.5.1 Industry Associations: Market Drivers
12.6 Philanthropic Organizations
12.6.1 Philanthropic Organizations: Market Drivers
12.7 Others
13 Award Management Software Market, by Region
13.1 Introduction
13.2 North America
13.2.1 North America: Market Drivers
13.2.2 United States
13.2.3 Canada
13.3 Europe
13.3.1 Europe: Market Drivers
13.3.2 United Kingdom
13.3.3 Germany
13.3.4 France
13.3.5 Rest of Europe
13.4 Asia Pacific
13.4.1 Asia Pacific: Market Drivers
13.4.2 China
13.4.3 Japan
13.4.4 Australia
13.4.5 Singapore
13.4.6 Rest of Asia Pacific
13.5 Middle East and Africa
13.5.1 Middle East and Africa: Award Management Software Market Drivers
13.5.2 Kingdom of Saudi Arabia
13.5.3 United Arab Emirates
13.5.4 South Africa
13.5.5 Rest of Middle East and Africa
13.6 Latin America
13.6.1 Latin America: Market Drivers
13.6.2 Brazil
13.6.3 Mexico
13.6.4 Rest of Latin America
14 Company Profiles
14.1 Introduction
14.2 Blackbaud
14.3 Wizehive
14.4 Submittable
14.5 Evalato
14.6 Award Force
14.7 Smarterselect
14.8 Reviewr
14.9 Eventsforce
14.10 Currinda
14.11 Awardstage
14.12 Acclaimworks
14.13 Judgify
14.14 Untap Compete
14.15 Openwater
14.16 Omnicontests
14.17 Eawards
14.18 Alpha Awards
14.19 Omnipress
14.20 Submit.Com
14.21 Rhythmq
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