The grant management software market size is projected to reach US$ 6.04 billion by 2031 from US$ 2.61 billion in 2023. The market is expected to register a CAGR of 11.1% during 2023–2031. An increasing number of grants and the increasing adoption of cloud-based solutions are likely to remain key trends and drivers in the market.
Rising demand for grant management software among companies is one of the foremost factors fueling the grant management software market. Further, grant management software facilitates streamline the application process and efficiently generate descriptions of several funding programs. Grant management software allows organizations to monitor performance and speed up procedures such as reporting, improving accounting performance, and monitoring and audits properly.
Grants management is the method of managing the entire lifecycle of philanthropic giving — from application and eligibility to application reviews and evaluations, all the way through grants distribution and real-time outcome tracking. It is an organizational tool that helps any organization manage all things grants-related. The software enables one to keep records of all the grants that one has applied for all the grants been awarded.
A number of companies in developing countries provide customized software for grantors and grant recipients to simplify it down the process of granting. Implementing machine learning (ML), analytics, and other advanced technologies enables data-driven decisions to help return on grant investments.
Various associations are offering grant financing. For instance, in April 2023, the Department of Transportation Federal Highway Administration (FHWA) offered grant funding that is available for a new pilot program to make roads prevent wildlife-vehicle collisions, safer, and improve habitat connectivity. The Infrastructure Investment and Jobs Act (IIJA) established the Wildlife Crossing Pilot Program to enable states and communities to build wildlife crossings over busy roadways, add warning signs for vehicles, and obtain mapping and tracking equipment for animals.
The cloud solution is delivered in an all-in-one package comprising complete control and predictability of expenses, including uptime, hosting, software licensing, support, maintenance, software patches, and bug fixes. Based on customization, the cloud-based solutions can be deployed in a few days or might take a few weeks. The clients can access the cloud-based software using existing devices such as tablets or smartphones. The cloud-based solution removes the requirement of develop secure remote connections, such as virtual private networks regulating the speed. Thus, the solution's low-cost deployment and maintenance significantly drive the grand management software market in developed and developing countries. Seabrooks provides an easy-to-use cloud-based community impact grant management system. PyanGo offers software for educational institutions and nonprofits, fully integrated with the Oracle NetSuite cloud platform.
Key segments that contributed to the derivation of the grant management software market analysis are component, deployment type, organization size, and end user.
The geographic scope of the grant management software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the grant management software market. North America consists of the US, Canada, and Mexico. Technological advancements have resulted in a highly competitive market in the region since technological developments attract growing populations due to high spending power. The grant management software market in North America is mature owing to the outsized presence of organizations with the availability of technical expertise and advanced IT infrastructure. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of grant management software market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the grant management software market.
The regional trends and factors influencing the Grant Management Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Grant Management Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.61 Billion |
| Market Size by 2031 | US$ 6.04 Billion |
| Global CAGR (2023 - 2031) | 11.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Grant Management Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Grant Management Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The grant management software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the grant management software market are listed below:
The “Grant Management Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
An increasing number of grants and the increasing adoption of cloud-based solutions are some of the factors driving the grant management software market.
North America is anticipated to dominate the grant management software market in 2023.
The key players holding majority shares in the global grant management software are StreamLink Software Inc., CyberGrants LLC, Workday Inc., Fluxx Labs Inc., Oracle Corp, Salesforce Inc., Sage Group Plc, Submittable Holdings Inc., Momentive Global Inc., WizeHive, Inc.
The emergence of AI in grant management software is anticipated to drive the market in the forecast period.
The global grant management software market is expected to reach US$ 6.04 billion by 2031.
The expected CAGR of the grant management software market is 11.1%.