Award Management Software Market Growth, Trends, Industry Statistics 2022-2030
The global Award Management Software market size is expected to be worth around US$ 5.1 billion by 2030, according to a new report by Vision Research Reports.
The global Award Management Software market size was valued at US$ 652.1 million in 2020 and is anticipated to grow at a CAGR of 9.2% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 5.1 billion by 2030 |
| Growth Rate | CAGR of 9.2% From 2021 to 2030 |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Component, Deployment, Organization, End-user |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | AcclaimWorks; Alpha Awards; Award Force; AwardStage; Blackbaud; Currinda; Evalato; Impexium Inc.; Judgify; Reviewr; RhythmQ; Submit.com; Submittable; WIZEHIVE; Zealous Solutions Ltd. |
Growth Factors
The rising need among enterprises to improve the overall award process by accelerating award application review is expected to drive the growth of the market. The capabilities of award management software to automate report creation to keep the record of the award process, screen large volumes of entries, reduce the time to scrutinize, and subsequently, reduce administrative costs are expected to drive the adoption of award management software over the forecast period.
Award management software allows enterprises to manage and streamline various aspects of the award process. Enterprises typically utilize the software to create award programs, invite applications, review and evaluate entries, and compile and record the entire award management process to maintain transparency.
By Component Analysis
Based on component, the market has been further segmented into solution and service. The solution segment dominated the market in 2020 and accounted for a revenue share of over 60%.
The efficient tools award management software facilitates for professionals to effectively engage with the applicants, reviewers, sponsors, and award organizers also bode well for the growth of the segment.
The service segment is anticipated to expand at the second-highest CAGR over the forecast period. Award management services comprise implementation and integration, training and education, and support and maintenance.
By Deployment Analysis
The cloud segment dominated the market in 2020 with a revenue share of 50.8%. Opting for cloud-based award management software provides a unified way to integrate the systems and components with both mobile apps and web applications.
The cloud segment is also expected to register the highest CAGR over the forecast period. Organizations are aggressively switching to cloud-based solutions to exploit various benefits, such as enhanced collaboration, flexibility, scalability, and cost-effectiveness, associated with cloud-based software.
By Organization Analysis
Based on organization, the market has been further segmented into small and medium enterprise and large enterprise. The large enterprise segment dominated the market in 2020 with a revenue share of around 60%. Large enterprises have to maintain and process large volumes of data as part of their award process.
The large enterprise segment is also estimated to expand at the highest CAGR from 2021 to 2030. The growth of the segment can be attributed to the large number of applications large enterprises have to scrutinize to make effective decisions on providing awards.
By End-user Analysis
Based on end-user, the market has been further segmented into government, educational institutes, corporations, industry associations, philanthropic organizations, and others. The corporation segment dominated the market in 2020 with a revenue share of around 24%.
The current competitive market is prompting both large and small enterprises to award deserving employees as part of the efforts to attract new talent while encouraging and retaining the incumbent talented professionals.
The educational institute segment is expected to expand at the highest CAGR over the forecast period. Colleges and universities often have to manage the list of programs over multiple systems and software.
By Regional Analysis
North America accounted for the highest revenue share of 27.8% in 2020. Developed economies in North America, such as the U.S. and Canada, are considered early adopters of the latest technologies. North America is home to some of the major market players, which bodes well for the growth of the regional market.
Advances in technology, the growing population, and the growing concerns over efficient management of the award process among organizations in Asia Pacific countries, such as India, China, and Japan, are expected to boost the adoption of award management software in the region.
Key Players
- AcclaimWorks
- Alpha Awards
- Award Force
- AwardStage
- Blackbaud
- Currinda
- Evalato
- Impexium Inc.
- Judgify
- Reviewr
- RhythmQ
- Submit.com
- Submittable
- WIZEHIVE
- Zealous Solutions Ltd.
Market Segmentation
- By Component
- Solution
- Service
- By Deployment
- Cloud
- On-Premise
- By Organization
- Small and Medium Enterprise
- Large Enterprise
- By End-user
- Government
- Educational Institute
- Corporation
- Industry Association
- Philanthropic Organization
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Organization Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Award Management Software Market, By Component
7.1. Award Management Software Market, by Component, 2021-2030
7.1.1. Solution
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Service
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Award Management Software Market, By Deployment
8.1. Award Management Software Market, by Deployment, 2021-2030
8.1.1. Cloud
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. On-Premise
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Award Management Software Market, By Organization
9.1. Award Management Software Market, by Organization, 2021-2030
9.1.1. Small and Medium Enterprise
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Large Enterprise
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Award Management Software Market, By End-use
10.1. Award Management Software Market, by End-use, 2021-2030
10.1.1. Government
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Educational Institute
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Corporation
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Industry Association
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Philanthropic Organization
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Award Management Software Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.3. Market Revenue and Forecast, by Organization (2017-2030)
11.1.4. Market Revenue and Forecast, by End-use (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.1.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Organization (2017-2030)
11.1.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.3. Market Revenue and Forecast, by Organization (2017-2030)
11.2.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.2.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Organization (2017-2030)
11.2.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Organization (2017-2030)
11.2.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Organization (2017-2030)
11.2.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.3. Market Revenue and Forecast, by Organization (2017-2030)
11.3.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.3.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Organization (2017-2030)
11.3.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Organization (2017-2030)
11.3.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Organization (2017-2030)
11.3.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.3. Market Revenue and Forecast, by Organization (2017-2030)
11.4.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.4.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Organization (2017-2030)
11.4.6.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Organization (2017-2030)
11.4.7.4. Market Revenue and Forecast, by End-use (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Organization (2017-2030)
11.4.8.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Organization (2017-2030)
11.5.5.4. Market Revenue and Forecast, by End-use (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Deployment (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Organization (2017-2030)
11.5.6.4. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 12. Company Profiles
12.1. AcclaimWorks
12.1.1. Company Overview
12.1.2. Component Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Alpha Awards
12.2.1. Company Overview
12.2.2. Component Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Award Force
12.3.1. Company Overview
12.3.2. Component Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. AwardStage
12.4.1. Company Overview
12.4.2. Component Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Blackbaud
12.5.1. Company Overview
12.5.2. Component Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Currinda
12.6.1. Company Overview
12.6.2. Component Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Evalato
12.7.1. Company Overview
12.7.2. Component Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Impexium Inc.
12.8.1. Company Overview
12.8.2. Component Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Judgify
12.9.1. Company Overview
12.9.2. Component Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Reviewr
12.10.1. Company Overview
12.10.2. Component Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
Glossary of Terms
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