What is Award Management Software Market Scope?
Awards management software is refer as a software which is used by organizations to manage the complete award process from submission, assortment, and nomination. Award management software combines all the data appropriate to the awards process. Various types of organizations use award management solutions to manage every step of the award process. It helps organizations streamline and manage their awards, scholarships, grants and scholarship programs through a cloud-based reward management system.
Influencing Trend:
Penetration of technology in software creation and Increased demand for automating award management services
Market Growth Drivers:
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
Challenges:
Availability of substitutes
Restraints:
lack of awareness among people
Opportunities:
Increasing need for alignment of award activities with organizations’ goals and Integration of AI-enabled tools with award management solutions
The Award Management Software market study is being classified by Type (Small and Medium Enterprises and Large Enterprises), by Application and major geographies with country level break-up.
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement and brand establishment. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Award Management Software market throughout the predicted period.
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) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are RhythmQ, Eventsforce, Evision, Eawards and Evalato.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Award Management Software market by Type, Application and Region.
On the basis of geography, the market of Award Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
WizeHive partnered with eCivis, part of GTY, a leading public sector Software-as-a-Service (SaaS) company. The partnership is intended to centralize and streamline the application intake, evaluation, and grant award process across the entire state of Arizona.
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
Key Target Audience
Award Management Software Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
Award Management Software Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Award Management Software Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Award Management Software industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.