The Global Grant Management Software Market was valued around at $1.5 billion in the year 2019, and is projected to reach $xx billion by the year 2027, growing at a CAGR of almost 10% during the forecast period. The report covers the detailed analysis of the Global Grant Management Software industry with the classifications of the market on the basis of Components, Deployment Mode, Platform, Functions, Industry Vertical, and region. Analysis of past market dynamics from 2016 to 2020 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.Grant Management Software is a software application, which helps the non – profit organizations manage the grant processes. Basically, grant management includes all the administration work that goes into using and completing the requirements of a grant. Though a grant is just a contract, it stipulates how the money is used, how the use is reported, and how much period it is covered. For grant seekers, grant management can be used to maintain proper relationships with the investors. And, for the grantmakers, grant management can be helpful to ensure that the money is being spent well and their contributions are above scrutiny.Today, most of the grant management solutions are deployed online and are available for access to anyone. The solutions are offered on the basis of the Software as a Service (SaaS) model, wherein the customers pay the online service providers for accessing the hosted solutions. One of the major advantages of the hosted software is that customers can easily access the software, without any high technical support and set up. The grant management software can also help the customers to find out the grants, by the known funding sources and also alert the users whenever any applicable grant opportunities are available.The report has profiled around fifteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in the North America region.
Global Grant Management Software Market Dynamics
Rise in the demand for Automated Solutions
The increasing number of Non – Profit Organizations and various CSR initiatives in most of the developing countries across the globe are some of the major key factors driving the global market for grant management software. Moreover, with the rise in advanced and latest technological solutions, which helps in easing up all the human work, it is obvious that almost all the sectors of business are demanding software automation applications. Automation in grant management solutions provides enormous opportunities to measure and reduce grantors and grant recipients’ risk, along with helping in making decisions based on the investment returns on the grants. Therefore, this increase in the need for typical and effective software applications could help in driving the market for grant management software, during the forecast period.
Data Security and Unawareness
Most of the grant management software, as described above is hosted online as a service; hence, the information required in the grant management process is all hosted on the cloud. And, as grant management specifically contains all the confidential data related to the monetary values and the returns over them, it is true that the data leaks can be a big issue to the information over the solutions. The customers cannot be assured of their data security, which can be mishandled or lost. Therefore, this factor associated with the data privacy of the critical information of organizations could be one of the major restraints, which could hamper market growth for the grant management software over the forecast period.
