The Global Grant Management Software Market was valued around at $1.5 billion in the year 2019, and is projected to reach $xx billion by the year 2027, growing at a CAGR of almost 10% during the forecast period. The report covers the detailed analysis of the Global Grant Management Software industry with the classifications of the market on the basis of Components, Deployment Mode, Platform, Functions, Industry Vertical, and region. Analysis of past market dynamics from 2016 to 2020 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player’s contribution in it.
Grant Management Software is a software application, which helps the non – profit organizations manage the grant processes. Basically, grant management includes all the administration work that goes into using and completing the requirements of a grant. Though a grant is just a contract, it stipulates how the money is used, how the use is reported, and how much period it is covered. For grant seekers, grant management can be used to maintain proper relationships with the investors. And, for the grantmakers, grant management can be helpful to ensure that the money is being spent well and their contributions are above scrutiny.
Today, most of the grant management solutions are deployed online and are available for access to anyone. The solutions are offered on the basis of the Software as a Service (SaaS) model, wherein the customers pay the online service providers for accessing the hosted solutions. One of the major advantages of the hosted software is that customers can easily access the software, without any high technical support and set up. The grant management software can also help the customers to find out the grants, by the known funding sources and also alert the users whenever any applicable grant opportunities are available.
The report has profiled around fifteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in the North America region.
Global Grant Management Software Market Dynamics
Rise in the demand for Automated Solutions
The increasing number of Non – Profit Organizations and various CSR initiatives in most of the developing countries across the globe are some of the major key factors driving the global market for grant management software. Moreover, with the rise in advanced and latest technological solutions, which helps in easing up all the human work, it is obvious that almost all the sectors of business are demanding software automation applications. Automation in grant management solutions provides enormous opportunities to measure and reduce grantors and grant recipients’ risk, along with helping in making decisions based on the investment returns on the grants. Therefore, this increase in the need for typical and effective software applications could help in driving the market for grant management software, during the forecast period.
Data Security and Unawareness
Most of the grant management software, as described above is hosted online as a service; hence, the information required in the grant management process is all hosted on the cloud. And, as grant management specifically contains all the confidential data related to the monetary values and the returns over them, it is true that the data leaks can be a big issue to the information over the solutions. The customers cannot be assured of their data security, which can be mishandled or lost. Therefore, this factor associated with the data privacy of the critical information of organizations could be one of the major restraints, which could hamper market growth for the grant management software over the forecast period.
Scope of Global Grant Management Software Market: Inquire before buying
The market is divided into 5 major segments and further into sub-segments to forecast the market size by value.
Global Grant Management Software Market, By Component
The Solutions Segment is expected to witness highest market share during the forecast period.
The Solutions Segment is expected to grow and have dominance in the market, during the forecast period. This substantial growth of the segment could be attributed to the holistic features provided by the grant management solutions, such as automating and helping the organizations to enhance their lengthy and manual grant management process. Also, the grant management solutions make it easy for holding all the data from beginning in one place, which makes it very much easy for the organizations to retrieve the oldest funding or vice versa. Therefore, the rise in demand by almost all the organizations for the automated grant management solutions could further help in driving the growth for this segment, during the forecast period.
Global Grant Management Software Market, By Deployment Model
• On Premises
• Cloud Based
Global Grant Management Software Market
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Global Grant Management Software Market, By Platform
The Web Platform Segment is expected to register a highest market share, during the forecast period.
It is expected that the segment of web platforms for grant management solutions would have dominance in the market, during the forecast period, owing to the various benefits provided by the web–based applications. The web–based applications, enable the users to run the solutions over the web – browsers, without creating any other multiple applications for the platforms. Also, these applications can be used on any browser, regardless of the operating system, it is working on.
Global Grant Management Software Market, By Functions
• Performance & Outcomes
• Document Management
• Application Tracking
• Grant Discovery
Application Tracking Segment is expected to register a highest market share, during the forecast period.
It is expected that the Application Tracking functional segment would have dominance in the market for Grant Management Software over the forecast period. This substantial growth could be attributed to the rise in need for applications that could help the organizations to manage the entire lifecycle of grants. Therefore, the demand for solutions that provide the tracking of grant-related tasks and also submit the results to the respective grantors is at the peak, and hence, could help in driving the market for this segment.
Global Grant Management Software Market, By Industry Vertical
• Healthcare & Human Services
• Educational Institutions
• International & National Organizations
• Philanthropic Organizations
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Global Grant Management Software Market1
Global Grant Management Software Market, By Region
• North America
• Middle East& Africa
• South America
Asia Pacific is expected to Account for the Largest Market Share during the Forecast Period.
In the year 2020, North America accounted for the highest market share for the Grant Management Software. But it is expected that the Asia Pacific would dominate the market for Grant Management Software over the forecast period, owing to the increased demand for grant management solutions by various organizations in the developing countries, over the region. Furthermore, it is also noticed that various companies have raised their investments in real-time analytics, which in turn could also help the region for driving the market growth, during the forecast period.
Global Grant Management Software Market2
The objective of the report is to present a comprehensive analysis of the Global Grant Management Software Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Grant Management Software Market dynamics, structure by analyzing the market segments and projects the Global Grant Management Software Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Grant Management Software Market make the report investor’s guide.
Global Grant Management Software Market Competitive Insights
Key players operating in Global Grant Management Software Market -:
• Foundant Technologies
• Award Force
• Fluent Technology
• HTC Global Services
Recent Developments -:
• In May 2019, Salesforce, under its philanthropic sector, announced its new application – foundationConnect. This application enables the foundations and public charities to effectively manage the entire lifecycle of philanthropic giving.
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