The ‘Global Award Management Software Market Size, Share, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global award management software market, assessing the market on the basis of its segments like types, deployment types, functions, end users, and major regions.
Award Management Software Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8.6%
Cloud-based award management software is increasingly preferred as it can be accessed at any time and from any device, boasts superior performance, provide real-time insights, and automate various processes. Such solutions also offer customisation benefits, simplify collaboration, and enable end users to make rapid changes.
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Universities globally are leveraging award management software to boost collaboration, improve their evaluation process, and assist in scholarships, CSR programmes, and grants. These solutions also eliminate the risk of duplicate entries while automating the reviewing of applications.
One of the key award management software market trends include the increasing focus by organisations to automate responses and reduce the workload of administrative employees. Moreover, the software empowers educational institutions, corporations, and governments to offer different awards simultaneously.
Award Management Software Industry Definition and Major Segments
Award management software refers to a platform that is used by organisations to efficiently manage awarding process, ranging from submission to awarding. It is also used by businesses and universities to accept and analyse applications, manage award opportunity pipelines, and increase collaboration between end users.
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The market, on the basis of type, is categorised into:
- Services
- Solution
Based on deployment type, the market is divided into:
- On-premises
- Cloud
By function, the market is segmented into:
- Judging Management
- Entry Management
- Application Tracking
- Reporting And Analytics
- Others
The various end users of award management software include:
- Governments
- Corporations
- Educational Institutions
- Industry Associations
- Non-Profit Organisations
- Others
The major regional markets of award management software include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
There is a growing preference for award management solutions that have in-built formats and templates, are compatible with traditional file extensions, can swiftly handle applications, and automate email invitations. Organisations, especially universities, are also adopting solutions that can review the collective and individual progress of participants and track application volume.
The award management software market is being aided by the increasing attempts to boost administrative efficiency, surge engagement of nominees and nominators, and centralise the awarding process. Furthermore, technological advancements and innovations are expected to boost the development of award management software with enhanced flexibility, improved security, and advanced features.
Key Market Players
The major players in the award management software market report are Eventsforce Solutions Ltd, Submit.com, GlobalSign.in Pte Ltd, Blackbaud, Inc., and Submittable Holdings, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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