The grant management software market is predicted to be worth USD 2,522.1 million in 2023 and rise to USD 6,742.4 million by 2033. The global industry was expanding at a CAGR of 10.3% from 2023 to 2034.
SMEs are becoming prevalent in developing nations and are likely to utilize software-based automated solutions. As SMEs place huge emphasis on automated solutions to improve business operations, there is an increase in the demand for grant management software.
Businesses comprehend budget prediction and grant budget reports due to grant management software analytics. Companies in underdeveloped countries are becoming aware of the advantages of grant management solutions and adopting advanced technologies.
The primary driver of the grant management software industry is the rising adoption of new technologies like AI and ML (Machine Learning). A good opportunity to assess and lessen risks for grantors and grant recipients is presented by the automation and digitization of the entire grant process.
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Key Takeaways
- By 2033, the grant management software market in the United Kingdom is likely to expand, with a CAGR of 11.4%.
- In 2022, the United States dominated the grant management software sector, with a share of 16.5%.
- The grant management software market was significantly expanding, with a size of USD 1,689.7 million in 2022.
- By 2033, the grant management software market in China is likely to expand, with a CAGR of 9.6%.
- In 2022, Germany expanded the grant management software business, with an expected share of 8.6%.
- The market is expected to grow at a USD 3,384.6 million valuation by 2026, with the integration of 5G technologies.
- By 2033, India is projected to expand significantly in the grant management software market, with a share of 12.2%.
- Japan’s grant management software industry share expanded significantly, with a 4.3% share in 2022.
- In 2022, solutions dominated the market with a share of 56.5%. It is anticipated to control the market by 2033 in terms of components.
- Based on the end user, the corporations segment dominated the market with a share of 20.1% in 2022.
Competitive Landscape
The grant management software market’s competitive environment is highly fragmented due to the presence of numerous companies. They are concentrating on analyzing grant applications and introducing better grant life cycle management systems. Even grant management software start-ups are becoming popular. To offer top-notch services, they are bringing cloud-based solutions to the market.
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Key Players
- Wizehive
- Salesforce.org LLC
- Submittable
- Oracle
- Workday Inc.
- AT&T
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Baidu Inc.
- Comverse Technology Inc.
- Google LLC
- InMobi
- Kongzhong Corp.
- Vodafone Group Plc
Recent Developments :
- On June 30, 2021, Deutsche Telekom, Ericsson, and Samsung successfully finished a 5G E2E network slicing experiment. The slicing trial was carried out at Deutsche Telekom’s Bonn facility utilizing commercial Samsung S21 technology and a VR (Virtual Reality) headset.
- On June 21, 2021, Verizon Communications Inc. announced that it has acquired Senion AB, an indoor positioning technology that offers organizations location sharing, indoor wayfinding, geofencing, and analytics.
- AmpliFund and the states of Illinois and the Commonwealth of Puerto Rico partnered in 2019 to automate their infrastructure by putting grant management systems in place in the two states. This collaboration promotes compliance, lowers grant funding risk, and increases grant money.
- Peer-to-Peer Fundraising Solution was introduced by Blackbaud in the United States in February 2019 with no subscription fees. The JustGiving-powered Blackbaud Peer-to-Peer Fundraising solution offers groups working for social good an unrivaled opportunity.
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Grant Management Software Market: Key Segmentation
By Component:
- Solution
- Services
- Implementation and Integration
- Training and Education
- Support and Maintenance
By Function:
- Performance and Outcomes Measurement
- Application Tracking
- Collaboration
- Document Management
- Reporting
- Others
By Deployment Mode:
- Cloud
- On-premise
By Organization Size:
- SMEs
- Large Enterprises
By End User:
- Government
- International and National Organizations
- Healthcare and Human Services
- Corporations
- Educational Institutions
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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