Publication Month: Sep 2020 | Report Code: TIPRE00007315 | No. of Pages: 202 | Category: Technology, Media and Telecommunications | Status: Published
Implementation of AI with grant management software is attributing to the growth of the market. The artificial intelligence (AI) has a vital role in any foundation or non-profit organization. The ability of AI to provide quick mathematical calculations to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the grant management software market in the near future. AI has proven to be efficient in high volume data management, and to outlines forecast and risk more effortlessly and even with a less skilled workforce. Several grant management software providers have already integrated their existing solutions with AI techniques for improvising their analytical abilities. In the forthcoming years, as the end-users’ expectation regarding analytics and forecasting capabilities increases, the collaboration of existing grant management software with advanced analytical technologies is expected to drive the growth of the grant management software market
The COVID-19 outbreak resulted in business shutdown across the globe leading to economic slowdown in 2020 and in 2021 also. However, the COVID-19 crisis positively impacted the growth of some sectors, such as software and technology. The demand for digital solutions, especially has grown at a high rate in the past few months. A significant number of government agencies and banks have taken significant initiatives to provide grants to the affected end-users. As a result, the adoption rate of grant management solutions is expected to grow in the coming years to manage all documents and reduce paperwork.
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Developing countries are experiencing a rise in the number of SMEs, which are inclined toward adopting software-based automated solutions. The demand for grant management software is on the rise due to the fact that SMEs are increasingly emphasizing on automated solutions to enhance business operations. Grant management software analytics also enables us to understand the budget forecast and grant budget reports. There is an increase in awareness related to grant management software benefits among the companies in developing regions. These factors are offering lucrative business opportunities for grant management software market players.
Rising awareness about the benefits of using grant management software among the companies in the developing countries is creating a lucrative opportunity. This factor boosts the growth of the grant management software market. APAC is one of the fastest-growing areas across the globe in terms of NGOs and associations.
Countries such as India, South Korea, Singapore, and Malaysia lead the grant management software market's growth path. Growing number of companies offering grant management software, increasing demand for a cloud-based solution, and rising number of service providers are expected to catalyze the growth of the grant management software market during the forecast period.
Based on component, the grant management software market is segmented into solution and services. The solution segment held the largest market share in 2019.
|Market Size Value in||US$ 1316.9 Million in 2020|
|Market Size Value by||US$ 2907.4 Million by 2027|
|Growth rate||CAGR of 12.0% from 2019-2027|
|No. of Pages||202|
|No. of Tables||115|
|No. of Charts & Figures||90|
|Historical data available||Yes|
|Segments covered||Component , Deployment Type , Organization Size , and End-User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Players operating in the grant management software market are mainly focused on the development of advanced and efficient products.
The List of Companies - Grant Management Software Market