Grant Management Software Market Forecast (2024-2031)
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.
Grant Management Software Market Analysis
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.
Grant Management Software Market Overview
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.
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Grant Management Software Market: Strategic Insights
Market Size Value in US$ 1,588.37 million in 2022 Market Size Value by US$ 3,366.20 million by 2028 Growth rate CAGR of 13.8% from 2023 to 2028 Forecast Period 2023-2028 Base Year 2022
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Grant Management Software Market: Strategic Insights
| Market Size Value in | US$ 1,588.37 million in 2022 |
| Market Size Value by | US$ 3,366.20 million by 2028 |
| Growth rate | CAGR of 13.8% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2022 |
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Grant Management Software Market Drivers and Opportunities
Increasing Number of Grants to Favor Market
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.
Increasing Adoption of Cloud-Based Solutions.
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.
Grant Management Software Market Report Segmentation Analysis.
Key segments that contributed to the derivation of the grant management software market analysis are component, deployment type, organization size, and end user.
- Based on component, the grant management software market is divided into software and services. The software segment is anticipated to hold a significant market share in the forecast period.
- Based on deployment type, the grant management software market is divided into cloud and on-premise. The cloud segment is anticipated to hold a significant market share in the forecast period.
- By end user, the market is segmented into educational institutes, government, BFSI, non-profit organizations, and healthcare. The government segment is anticipated to hold a significant market share in the forecast period.
Grant Management Software Market Share Analysis by Geography
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.
Grant Management Software Market Report Scope
Grant Management Software Market News and Recent Developments
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:
- GivingData, one of the leading providers of grants management software to family and independent foundations, announced the launch of a new consulting partner program to help grantmaking foundations optimize their use of the company's enterprise grants management platform. (Source: GivingData, Company Website, December 2023)
- SmartSimple Software, one of the leading providers of cloud-based solutions for grants management and corporate giving, announced the launch of SmartSimple Cloud +AI. This product introduced transformative, end-to-end AI support throughout the entire grant management lifecycle, streamlining the process and further reducing administrative burden. (Source: SmartSimple Software, Company Website, March 2023)
Grant Management Software Market Report Coverage and Deliverables
The “Grant Management Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Grant management software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Grant management software market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Grant management software market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Grant management software market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment Type, Organization Size, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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%.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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