Grant Management Software Market Size Report – Trends & Forecasts 2028

[Research Report] The grant management software market is projected to grow from US$ 1,588.37 million in 2022 to US$ 3,366.20 million by 2028; it is estimated to record a CAGR of 13.8% from 2023 to 2028.

Grant management has always been a crucial procedure for most companies. It mainly involves administrative tasks such as grant reporting, funding, and program execution. Grant management software helps manage and automate the entire grant process for fund-seeking organizations, including universities and nonprofit organizations. The administrator of grant process management must follow the current standards set by donors. Grant management software also enables organizations to collect detailed online data and provide both online and grant-tracking capabilities in a single package. Increasing demand for grant management software among companies is one of the main factors driving the grant management software market growth. Further, grant management software helps streamline the application process and efficiently create descriptions of several funding programs. The software allows organizations to monitor performance; speed up procedures such as reporting; and improve accounting performance, monitoring, and audits properly. However, the lack of a universal standard procedure is restricting the grant management software market growth.

The grant management software market in North America is segmented into Canada, the US, and Mexico. In 2022, the US accounted for the largest share of the market in North America. The growing investments by organizations in advanced technologies such as analytics and AI across various industries, including BFSI and governments, are anticipated to drive grant management software adoption during the forecast period. Further, the increased merger and acquisition activities by key market players are expected to boost the US grant management software market growth in the coming years. In August 2020, Submittable Holdings, Inc. partnered with the US-based GrantWatch, Inc. to reach a wider variety of grants and improve the quality and quantity of applications for grantmakers. In December 2018, eCivis partnered with Questica, a leading public sector budgeting provider. Through this collaboration, organizations aim to provide their customers a consolidated and coordinated budgeting, grant management, and cost allocation. WizeHive partnered with eCivis, a part of GTY, a leading Software-as-a-Service (SaaS) public sector company, in April 2018. The purpose of the partnership is to centralize and streamline the process of application intake, assessment, and grant award across the entire state of Arizona.

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Grant Management Software Market: Strategic Insights

Market Size Value in	US$ 1,588.37 million in 2022
Market Size Value by	US$ 3,366.20 million by 2028
Growth rate	CAGR of 13.8% from 2023 to 2028
Forecast Period	2023-2028
Base Year	2022

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Impact of COVID-19 Pandemic on European Grant Management Software Market

The COVID-19 pandemic severely impacted European countries, including Italy, Spain, France, and Germany, with Italy being the most affected. The grant management software market in Europe has experienced various effects of the COVID-19 pandemic. First, the pandemic significantly increased the demand for funding, placing pressure on grant management software suppliers to provide quick and effective solutions. Second, due to the pandemic, many grantmaking organizations now use digital platforms for grant management and application. As a result, software developers had to upgrade their software products to accommodate remote access and online collaborations to meet the clients' changing needs. Grant management software suppliers have taken several actions to address these issues. Healthcare have concentrated on simplifying the application process to make it easier and productive. All such factors significantly impacted the European grant management software market growth.

Emergence of AI in Grant Management Software to Drive Grant Management Software Market Growth in Coming Years

Artificial intelligence (AI) is vital to any foundation or nonprofit organization. The ability of AI to provide quick Artificial intelligence (AI)-based grant management software is vital in any foundation or nonprofit organization. AI can provide quick mathematical calculations to increase the of human intelligence. AI-based software can manage high-volume data efficiently and outlines forecasts and risks more effortlessly, even with a less skilled workforce. Several grant management software providers are integrating their existing solutions with AI techniques to improve analytical abilities of the software. AI algorithms can be used to automatically score grant applications based on specific criteria. This can save time for the grant administration and ensure a fair and objective evaluation process. AI can be used to analyze past grant applications and outcomes to predict which applications are most likely to be successful. As expectations of end users regarding analytics and forecasting capabilities increase, the integration of existing grant management software with AI is expected to drive the growth of the grant management software market in the coming years.

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End User-Based Grant Management Software Market Insights

Based on end user, the grant management software market is segmented into educational institutes, governments, BFSI, nonprofit organizations, and others. In 2022, the government segment dominated the grant management software market share. Government bodies of numerous countries across the globe are among the leading adopters of grant management software products. This is due to the fact that the majority of governments are grantmakers and are required to utilize robust and advanced solutions to simplify the grant processes. In addition, government bodies are increasingly emphasizing and propelling digitalization, which is another key catalyst for the grant management software market. The grand processing or grantmaking government departments require significant database management solutions to manage large volumes of data. As a result, the grant processing departments have been at the forefront of adopting grant management solutions with the objective of streamlining the process of any applicant. Further, the continuous growth in the number of grant seekers is boosting the adoption of grant management solutions, which is propelling the grant management software market in the government segment.

Market players mainly adopt inorganic growth strategies to stay competitive in the grant management software market ecosystem.

• In 2023, Momentive Global Inc launched three new survey creation features for SurveyMonkey. The new features include a language personalization feature, additional best/worst question types, and a multilingual email collector.
• In 2019, AmpliFund entered into a partnership with both states of Illinois and the Commonwealth of Puerto Rico to automate their infrastructure by implementing grant management systems in two states. This partnership helps to increase grant funding, drive compliance, and reduce the risk of all grant funding.

Players profiled in the grant management software market report are:

• AmpliFund
• CyberGrants, LLC
• Fluxx Labs Inc.
• Oracle Corporation
• The Sage Group plc
• Salesforce.com, Inc.
• Submittable Holdings, Inc.
• SurveyMonkey
• WizeHive, Inc.
• Workday, Inc