Award Management Software Market Size, Share, And Growth Report 2032

Award Management Software Market: Size

The global Award Management Software market size was worth around USD 774.87 million in 2023 and is predicted to grow to around USD 1655.35 million by 2032 with a compound annual growth rate (CAGR) of roughly 8.8% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD million). The report covers a forecast and an analysis of the Award Management Software market on a global and regional level.

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Award Management Software Market: Overview

Awards management software is used by organizations to manage the complete award process from submission, assortment, and nomination. Award management software combines all the data appropriate to the awards process. Various types of organizations use award management solutions to manage every step of the award process. Businesses and schools also use awards management software to accept award applications, analyze the applications, judge submissions, and announce results to the participants through a single platform. The award software eases the complications associated with running an awards program and combines numerous solutions. The users are able to communicate with applicants, vote on submissions, and generate reports on the award process.

The growing demand for grant management solutions by the government is a major driver boosting the growth of the global award management software market. The grant management software helps in assisting fund seeking organizations, such as universities, that are administrating and automating the grant process. The grant tracking and management software are increasingly becoming a must-have for funders. This software helps the agency to soar to new heights by saving the time of the workforce. In addition, the increasing need for alignment of award activities with organizations’ goals is further expected to drive the award management software market globally in the future. Performance management is a process that is used to track and manage the performance of employees. The employees not only demand good pay and benefits but also want to be treated fairly and contribute toward the organizational growth through their work. This has resulted in the higher application of award management software, which is also contributing to the overall market size. However, the lack of awareness among people is a major restraint for the award management software market globally.

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Award Management Software Market: Segmentation

The study provides a decisive view of the award management software by segmenting the market based on deployment, organization size, end-user, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By deployment, the market is segmented into on-premises and cloud-based.

By organization size, the award management software market is bifurcated into small and medium enterprises and large enterprises.

By end-user, the award management software market comprises private and family foundations, community foundations and fundraising organizations, corporate foundations, associations, education institutions, government institutions, non-profits and charities, and others. Government institutions held the largest market share in 2023, due to the automation of the federal procurement and awards processes that have evolved over time through the development of systems to perform individual steps in the award process. Private and family foundations held a significant market share in 2023.

Award Management Software Market: Report Scope

Award Management Software Market: Regional Analysis

The regional segment includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

By region, North America will hold the largest market share for the award management software market in the future. The U.S. and Canada are the major contributors of the North American award management software market, owing to the presence of a large number of small- and medium-sized enterprises, greater technology adoption, and increasing user-base on social media platforms.

Award Management Software Market: Competitive Players

Some major players of the global award management software market are:

• Judgify
• Reviewr
• omniCONTESTS
• FluidReview
• StreamLink Software Inc.
• VYPER
• WizeHive Inc.
• Openwater
• Fluxx
• RhythmQInc
• Eventsforce
• eVision
• eAwards
• Evalato
• Award Force
• Awards Absolute
• AwardStage
• Currinda

The Global Award Management Software Market is segmented as follows:

Global Award Management Software Market: Deployment Analysis

• On-Premises
• Cloud-Based

Global Award Management Software Market: Organizational Size Analysis

• Small and Medium Enterprises
• Large Enterprises

Global Award Management Software Market: End-User Analysis

• Private and Family Foundations
• Community Foundations and Fundraising Organizations
• Corporate Foundations
• Associations
• Education Institutions
• Government Institutions
• Non-Profits and Charities
• Others

Global Award Management Software Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa