The global grant management software market is anticipated to generate revenues of USD 2,522.1 million in 2023. The market is anticipated to increase at a CAGR of 10.3% and reach USD 6,742.4 million by 2033.
Non-profit organizations' emphasis on having all information in one place is the primary factor driving the broad adoption of grant management solutions. Another reason for the rising adoption of grant management software for non-profit organizations is the automation of the grant application process.
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Growing AI-enabled technologies
The demand for grant management software is expected to increase year over year due to key industry trends. Like the integration of AI-enabled technologies with grant management solutions and the increased demand for automating grant procedures.
5G Integration
The mobile value-added services market is expected to grow dramatically as a result of cloud-based gaming on 5G. Mobile operators and service providers can give their clients brand-new, cutting-edge value-added services by utilizing cloud-based gaming on 5G.
Contribution of Mobile Value-added Services
| Attributes | Details |
|---|---|
| Expected Market CAGR (2023 to 2033) | 10.3% |
| Expected Market Size (2023) | USD 2,522.1 million |
| Expected Market Size (2033) | USD 6,742.4 million |
From 2018 to 2022, the market expanded at a sizable CAGR of 8.2%. In 2018, it was valued at USD 1,689.7 million, and in 2022, that figure had increased to USD 2,320.2 million.
During this period, factors such as increasing requirements among businesses to enhance the process acceleration of the grant application assessment promoted market growth. It leads to a significant growth rate of 1.49 x between 2022 and 2023.
As a result, numerous government and non-federal organizations are quickly adopting grant management programming to handle their grants. Additionally, the programming helps organizations obtain web-based data and provides both grant-tracking and online features in a single package.
Moving ahead, this market is expected to increase internationally as a result of the rising demand for sophisticated financial management solutions among enterprises. Hence, the market is likely to see new growth prospects due to the combination of advanced technology with the use of accounting and financial management services.
By integrating administrative processes into a single program, many firms are deploying business solutions to increase their operational efficiency. Consequently, the grant management software industry is directly impacted by the predicted 11.9% CAGR of the global business software market by 2033. Due to its use in IT infrastructure, the market is anticipated to increase at a 2.67x rate between 2023 and 2033.
Principal Consultant
The key factor hindering the market's expansion is the lack of knowledge among small and medium-sized businesses regarding the benefits of grant management software. Other crucial factors to take into consideration are:
| Region | Market Share (2022) |
|---|---|
| North America | 28.9% |
| Europe | 21.9% |
| Country | The United Kingdom |
|---|---|
| Market CAGR (2023 to 2033) | 11.4% |
| Expected Market Size (2033) | USD 555.87 million |
Grants to businesses and educational organizations are the market's main emphasis in the United Kingdom. In the United Kingdom, donor expectations and legal regulations are promoting greater accountability and openness. Machine languages and AI-enabled technology help to automate processes, increase accuracy, and decrease manual labor, freeing grant managers to concentrate on more important duties. The regional grant management software market size has significantly increased as a result of technological development and growing industrialization in the United Kingdom.
| China Market CAGR (2023 to 2033) | 9.6% |
|---|---|
| India Market CAGR (2023 to 2033) | 12.2% |
Demand for grant management software in Asia Pacific is anticipated to expand rapidly during the forecast period. Key factors propelling the regional market are the growth of associations, research projects in universities, government and non-government organizations, and Corporate Social Responsibility (CSR) activities. Furthermore, the use of cutting-edge technology like machine learning and advanced analytics enables data-driven choices to support grant investment returns.
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| Category | Component |
|---|---|
| Sub-segment | Solutions |
| Market Share (2022) | 56.5% |
| Category | End User |
|---|---|
| Sub-segment | Corporations |
| Market Share (2022) | 20.1% |
Over the forecast period, the solutions segment is anticipated to rule the market. Organizations handle grant processes on a centralized platform due to grant management software. Global demand for grant management solutions is anticipated to increase as organizations place more emphasis on automating and enhancing their grant procedures.
Grant managers are given effective tools by grant management software to communicate with potential grantmakers and seekers. Organizations with a variety of end users are implementing these solutions as they try to manage charity channels and data efficiently.
The final users of the grant management software are grant seekers and corporations. Grant management software industry players innovate and create user-friendly software. This is due to the expanding global need for grants, which allows them to meet this demand. Also, the government sector receives funds as its source and occasionally has certain demands that receivers must meet.
By 2033, cloud-based solutions are anticipated to rule the market with a sizable CAGR of 13%. Today's businesses are eager to have their solution installed in the cloud since it provides several benefits, including scalability, improved collaboration, capacity flexibility, and cost-efficiency.
When SMEs and large businesses implement cloud-based grant administration software, they concentrate on their core capabilities rather than IT procedures. Organizations focus on saving money by using the cloud-based grant administration system and services, instead of paying for software, storage, and technical staff.
Organizations streamline grant-making procedures with the aid of cloud-based grant management software. It provides a centralized method of integrating the system and its components with web and mobile applications.
By offering creative goods and services that assist companies in streamlining and automating their grant administration operations, key market participants are redefining the market's scope. Important companies are likely to encounter new possibilities and problems, as the market is always changing, which is likely to test their ability to innovate and adapt.
Global industry players are offering a variety of solutions to change the market's outlook going forward. Businesses are compelled to invest and develop novel solutions as a result of the positive growth rate.
Recent Developments:
The market is expected to reach USD 2,522.1 million in 2023.
The market is anticipated to expand at a CAGR of 10.3%.
Growing demand for efficient financial management solutions and mobile value-added services.
5G integration and surging use of AI-technologies are key trends in the market.
High cost of software implementation and increasing demand for privacy and data security.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Solution 5.2. Services 5.2.1. Implementation and Integration 5.2.2. Training and Education 5.2.3. Support and Maintenance 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Function 6.1. Performance and Outcomes Measurement 6.2. Document Management 6.3. Reporting 6.4. Application Tracking 6.5. Collaboration 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 7.1. Cloud 7.2. On-premise 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 8.1. SMEs 8.2. Large Enterprises 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 9.1. Government 9.2. Healthcare and Human Services 9.3. Educational Institutions 9.4. Corporations 9.5. International and National Organizations 9.6. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. MEA 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Wizehive 20.2. Salesforce.org LLC 20.3. Submittable 20.4. Oracle 20.5. Workday Inc. 20.6. AT&T 20.7. Alphabet Inc. 20.8. Amazon.com Inc. 20.9. Apple Inc. 20.10. Baidu Inc. 20.11. Google LLC 21. Assumptions & Acronyms Used 22. Research Methodology
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Grant Management Software Market
