The article cited AMA's Global Award Management Software Market Study explored substantial growth with CAGR of %. According the report, Penetration of technology in software creation
is one of the primary growth factors for the market. The growing demand for grant management solutions by the government is a major driver boosting the growth of the global award management software market. It helps in assisting fund seeking organizations, that are administrating and automating the grant process. This software helps the agency to soar to new heights by saving the time of the workforce is also expected to contribute significantly to the Award Management Software market. Overall, Private and Family Foundations
applications of Award Management Software, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The presence of players such as Submittable (United States), Oracle (United States), Benevity (Canada), Judgify (Singapore), OmniCONTESTS (United States), WizeHive (United States), FluidReview (Canada), StreamLink Software (United States), Openwater (United States) and Fluxx (United States) may see astonishing sales in this Market and certainly improve revenue growth.
The Components, such as Solution, is boosting the Award Management Software market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
The Deployment Mode, such as On-premises, is boosting the Award Management Software market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Award Management Software market identified that the demand is rising in many different parts of the world as "Increasing need for alignment of award activities with organizations’ goals
". Furthermore, some recent industry insights like "In December 2021, Benevity acquired Alaya, a purpose-driven employee engagement SaaS platform based in Switzerland. This helped company to expand its presence in award management software market" is constantly making the industry dynamic. One of the challenges that industry facing is "Availability of substitutes"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
Detailed Overview of Award Management Software market will help deliver clients and businesses making strategies. Influencing factors that thriving demand and latest trend running in the market What is the market concentration? Is it fragmented or highly concentrated? What trends, challenges and barriers will impact the development and sizing of Award Management Software market SWOT Analysis of profiled players and Porter's five forces & PEST Analysis for deep insights. What growth momentum or downgrade market may carry during the forecast period? Which region may tap highest market share in coming era? What focused approach and constraints are holding the Award Management Software market tight? Which application/end-user category or Product Type [Small and Medium Enterprises and Large Enterprises] may seek incremental growth prospects? What would be the market share of key countries like Germany, USA, France, China etc.?
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Award Management Software market and other related sub-markets covered in the study.
o Key & emerging players in the Award Management Software market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Award Management Software market size is calculated using market estimation process, the Award Management Software market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Award Management Software market size has been validated using both top-down and bottom-up approaches.