Award Management Software Market Trends, Share, Size, Demand, Revenue and Future Outlook
Award Management Software Market Growth, Size, Trends Analysis - By Component, By Deployment, By Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2024 | Report ID: IACT24197 | Pages: 1 - 243 | Formats*: |
| Category : Information & Communications Technology | |||
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: | |
| By Deployment: | |
| By Vertical: |
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 report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Award Management Software Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Award Management Software Market Manufacturing Base Distribution, Sales Area, Product Type6.2. 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, 2020-20267.2. Global Award Management Software Market Size, Share and Forecast, By Component, 2027-20337.3. Solution7.4. 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, 2020-20268.2. Global Award Management Software Market Size, Share and Forecast, By Deployment, 2027-20338.3. On-Premises8.4. 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, 2020-20269.2. Global Award Management Software Market Size, Share and Forecast, By Vertical, 2027-20339.3. Government9.4. Educational Institute9.5. Corporation9.6. Industry Association9.7. Philanthropic Organization9.8. 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-Pacific11.3.1. Australia11.3.2. China11.3.3. India11.3.4. Japan11.3.5. South Korea11.3.6. Rest of Asia-Pacific11.4. Europe11.4.1. France11.4.2. Germany11.4.3. Italy11.4.4. Spain11.4.5. United Kingdom11.4.6. Rest of Europe11.5. Middle East and Africa11.5.1. Kingdom of Saudi Arabia11.5.2. United Arab Emirates11.5.3. Qatar11.5.4. South Africa11.5.5. Egypt11.5.6. Morocco11.5.7. Nigeria11.5.8. Rest of Middle-East and Africa11.6. North America11.6.1. Canada11.6.2. Mexico11.6.3. United States11.7. Latin America11.7.1. Argentina11.7.2. Brazil11.7.3. Rest of Latin America
12. Company Profile
12.1. AcclaimWorks Ltd12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. ALPHA12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Award Force (Creative Force Ltd)12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. AwardStage12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. Blackbaud, Inc12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. Currinda Pty. Ltd12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Evalato12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. IMPEXIUM12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Judgify Ltd12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. Omnipress12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Award Management Software Market is projected to reach USD 2365.75 million by 2033, growing at a CAGR of 14.11% during the forecast period.
Award Management Software Market grew in Market size from 2024. The Market is expected to reach USD 2365.75 million by 2033, at a CAGR of 14.11% during the forecast period.
Award Management Software Market CAGR of 14.11% during the forecast period.
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Award Management Software Market size is USD 2365.75 million from 2024 to 2033.
Award Management Software Market is covered By Component, By Deployment, By Organization Size and By Vertical
The North America is anticipated to have the highest Market share in the Award Management Software Market.
The Key players in the Market include Companies Covered AcclaimWorks Ltd; ALPHA; Award Force (Creative Force Ltd); AwardStage; Blackbaud, Inc; Currinda Pty. Ltd; Evalato; IMPEXIUM; Judgify Ltd; Omnipress.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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