The increasing need for accelerating grant application review and improving the grant process among organizations drives the demand for grant management software market
Grant management software facilitated enterprises to properly inspect the speed and quality of various procedures such as monitoring, reporting, and audits, along with improving the accounting performance. Growth in demand for developed financial management services and solutions is also expected to augment the industry growth over the forecast period.
The market size for global grant management software is anticipated to reach USD 3 billion by 2025.
The grant management software provides thorough reporting capabilities to the financial enterprises so that they can virtually manage the daily requirements of portfolio management or any loan program. Thus, the incorporation of advanced technology with the legacy of financial and accounting management solutions is projected to offer lucrative prospects for the vendors in the next five years. However, strict government mandates for the banking, finance, and insurance sector is an essential factor that may restrict the grant management software industry growth across the globe.
Based on the function segment, the market is bifurcated into document management, performance & outcomes measurement, reporting, collaboration, application tracking, grant discovery, and others. In 2019, the document management segment gathered the largest market revenue and it is anticipated to govern the grant management software market throughout the forecast period. However, the performance & outcomes measurement segment is anticipated to grow at a substantial growth rate over the forecast period.
The global grant management software market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global grant management software market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the grant management software storage, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the grant management software market in North America.
The major players of the global grant management software market are WizeHive, Submittable, Oracle, Workday, Salesforce, eCivis, Benevity, SmarterSelect, Foundant Technologies, Blackbaud, Sage, and more. The grant management software market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Internet of Grant Management Software Market
Function Overview, 2018-2025 (USD Billion)
- Application Tracking
- Document Management
- Grant Discovery
- Performance & Outcomes Measurement
Organization Size Overview, 2018-2025 (USD Billion)
- Large Enterprises
End-User Overview, 2018-2025 (USD Billion)
- Healthcare & Human Services
- Educational Institutions
- International & National Organizations
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America