Award Management Software Market Introduction and Overview
According to SPER Market Research, the Global Award Management Software Market is estimated to reach USD 2365.75 million by 2033 with a CAGR of 14.11%.
The report includes an in-depth analysis of the Global Award Management Software Market, including market size and trends, product mix, Applications, and supplier analysis. Companies utilize award management software to successfully manage the complete awards process, which includes application selection, compilation, and evaluation, as well as judgements and submissions. The program gathers and incorporates every aspect of the award procedure. The platform intends to reduce the uncertainty of current reward programs by providing a variety of options.
- The Maryland Department of General Services used a cutting-edge award management system created by Submittable, one of the major industry participants, in October 2024. It is anticipated that the action will streamline the laborious annual disbursement procedure of billions of dollars.
- In March 2024, Impexium Inc. created Impexium Talk (I-Talk), which enables business executives to use their association management system (AMS) in their native tongue. This provides continuous access to basic membership administration services, including spontaneous dashboards, as well as the ability to provide help to association members.
Market Opportunities and Challenges
Opportunities:
The need to streamline award management procedures is growing - The growing complexity and volume of award management operations in numerous industries has made it critical for firms to use software solutions that can streamline and automate these tasks. Manual award administration systems are frequently time-consuming, error-prone, and lack the required visibility and control. Award management software offers a centralized platform for managing the whole award lifecycle, from solicitation to closeout, allowing businesses to streamline processes, increase efficiency, and cut costs. The growing demand to streamline award management operations is a significant driver of the Award Management Software Market Industry.
Challenges:
Complexity of Features - Some award management software solutions may be difficult to use due to the number of features that take time to grasp and learn. As a result, consumers may struggle to navigate systems properly, limiting adoption. Furthermore, a plethora of qualities may overload enterprises and, notably, users, resulting in tardy adoption of better capabilities and decreased efficacy.
Data Security Issues - Most award programs involve the processing of confidential data, which may include personal information about students or workers. This increases the danger of data breaches, which may prevent firms from embracing cloud-based solutions. Businesses need also adhere to severe data privacy rules such as GDPR, which may impede the use of award administration software
Market Competitive Landscape
The competitive landscape of the global award management software market is distinguished by a mix of rising startups and established players offering distinct capabilities and features. Leading players such as AcclaimWorks Ltd; ALPHA; Award Force (Creative Force Ltd); AwardStage; Blackbaud, Inc; Currinda Pty. Ltd; are working on providing enhanced features such as simplified management solutions, customization, and flexibility.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Deployment, By Organization Size, By Vertical |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | AcclaimWorks Ltd; ALPHA; Award Force (Creative Force Ltd); AwardStage; Blackbaud, Inc; Currinda Pty. Ltd; Evalato; IMPEXIUM; Judgify Ltd; Omnipress. |
By Component Insights:
Based on components, solutions dominated the global market in 2024, owing to organizations' increased emphasis on implementing modern technological solutions. Multi-featured solutions with technological superiority help organizations to successfully administer award or grant programs by automating activities such as pre-reviewing applications and qualifying applicants. Improved capabilities like as multilingual comprehension, smart features, cloud-based deployments, simpler process help, and more drive acceptance across a wide range of businesses and governments.
COVID-19 Impact on Global Award Management Software Market
The COVID-19 waves disrupted people's lives as well as many growing enterprises, and the issue is predicted to have an influence on the awards management software market share, giving the sector a cynical reputation. The global awards management software industry is anticipated to contract as a result of the COVID-19 scenario. During the COVID-19 waves, the government imposed limits on awards management software in order to minimize its market share compared to pre-pandemic levels. Regulations such as stamp laws, privacy laws, data security legislation, and gift certificate rules all have an impact on the growth of the awards management software business.
Key Target Audience:
- Educational Institutions
- Nonprofit Organizations
- Corporations
- Government Bodies
- Professional Associations
- Event Management Companies
- Cultural and Artistic Organizations
- Research and Academic Funding Organizations
- Sports Organizations
- Media and Entertainment Companies
Our in-depth analysis of the Award Management Software Market includes the following segments:
| By Component: | SolutionServices |
| By Deployment: | On-PremisesCloud |
| By Vertical: | GovernmentEducational InstituteCorporationIndustry AssociationPhilanthropic OrganizationOther |
Key Topics Covered in the Report:
- Global Award Management Software Market Size (FY’2024-FY’2033)
- Overview of Global Award Management Software Market
- Segmentation of Global Award Management Software Market By Component (Solution, Services)
- Segmentation of Global Award Management Software Market By Deployment (On-Premises, Cloud)
- Segmentation of Global Award Management Software Market By Vertical (Government, Educational Institute, Corporation, Industry Association, Philanthropic Organization, Others)
- Statistical Snap of Global Award Management Software Market
- Expansion Analysis of Global Award Management Software Market
- Problems and Obstacles in Global Award Management Software Market
- Competitive Landscape in the Global Award Management Software Market
- Impact of COVID-19 and Demonetization on Global Award Management Software Market
- Details on Current Investment in Global Award Management Software Market
- Competitive Analysis of Global Award Management Software Market
- Prominent Players in the Global Award Management Software Market
- SWOT Analysis of Global Award Management Software Market
- Global Award Management Software Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Award Management Software Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Award Management Software Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Award Management Software Market
7. Global Award Management Software Market, By Component (USD Million) 2020-2033
7.1. Global Award Management Software Market Size, Share and Forecast, By Component, 2020-2026
7.2. Global Award Management Software Market Size, Share and Forecast, By Component, 2027-2033
7.3. Solution
7.4. Services
8. Global Award Management Software Market, By Deployment (USD Million) 2020-2033
8.1. Global Award Management Software Market Size, Share and Forecast, By Deployment, 2020-2026
8.2. Global Award Management Software Market Size, Share and Forecast, By Deployment, 2027-2033
8.3. On-Premises
8.4. Cloud
9. Global Award Management Software Market, By Vertical (USD Million) 2020-2033
9.1. Global Award Management Software Market Size, Share and Forecast, By Vertical, 2020-2026
9.2. Global Award Management Software Market Size, Share and Forecast, By Vertical, 2027-2033
9.3. Government
9.4. Educational Institute
9.5. Corporation
9.6. Industry Association
9.7. Philanthropic Organization
9.8. Other
10. Global Award Management Software Market Forecast, 2020-2033 (USD Million)
10.1. Global Award Management Software Market Size and Market Share
11. Global Award Management Software Market, By Region, 2020-2033 (USD Million)
11.1. Global Award Management Software Market Size and Market Share By Region (2020-2026)
11.2. Global Award Management Software Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. AcclaimWorks Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. ALPHA
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Award Force (Creative Force Ltd)
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. AwardStage
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Blackbaud, Inc
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Currinda Pty. Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Evalato
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. IMPEXIUM
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Judgify Ltd
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Omnipress
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links