Grant Management Software Market Research Report: By Deployment Type (Cloud-based, On-premises), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By End-User Industry (Education, Healthcare, Nonprofit, Government, Corporate), By Functionality (Grant Search and Identification, Application and Proposal Management, Review and Evaluation, Award and Contract Management, Monitoring and Reporting), By Pricing Model (Subscription-based, Per-seat, Per-use) and By Regional (North America, Europe, South America, Asi

Grant Management Software Market Overview

As per MRFR analysis, the Grant Management Software Market Size was estimated at 3.14 (USD Billion) in 2022.The Grant Management Software Market Industry is expected to grow from 3.54(USD Billion) in 2023 to 10.3 (USD Billion) by 2032. The Grant Management Software Market CAGR (growth rate) is expected to be around 12.61% during the forecast period (2024 - 2032).

Key Grant Management Software Market Trends Highlighted

In the grant management software market, several key trends are shaping market dynamics. Firstly, the increasing complexity and volume of grant applications have spurred demand for comprehensive and integrated software solutions to streamline processes and improve efficiency. Secondly, the need for enhanced transparency and accountability mandates the adoption of systems that provide real-time visibility and tracking. Furthermore, the integration of data analytics capabilities within grant management software empowers organizations to optimize performance, identify trends, and make informed decisions. Additionally, the rise of cloud-based solutions enhances accessibility and collaboration among stakeholders, contributing to efficient grant lifecycle management. These trends underscore the growing importance of grant management software in enabling organizations to effectively administer and track grants, facilitating compliance, and maximizing impact.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Grant Management Software Market Drivers

Increasing Demand for Streamlined Grant Management

The grant management software market is driven by the increasing demand for efficient and smooth management of grants. Non-profit organizations, government agencies as well as foundations are increasingly demanding dedicated software solutions to manage the complexities of the grant life cycle, from applying and submitting the application to report submission and compliance. Grant management software allows to centralize and automate a wide range of tasks, grant tracking, proposal development, budgeting and reporting, providing the possibilities to improve efficiency, streamline operations and reduce administrative burden.

Thus, the expanding need for an efficient manner of managing the grants drives the market of grant management software products from both the supply and demand side.

Growing Need for Compliance and Transparency

Another key driver for the growth of the grant management software market is the growing need for compliance and transparency in grant management processes. Governments and funding agencies are increasingly emphasizing the need for organizations to demonstrate proper use of grant funds and adherence to regulatory requirements. Grant management software helps organizations maintain accurate records, track expenses, and generate reports, ensuring compliance with grant terms and conditions.

By providing a centralized platform for managing grant-related information, the software enhances transparency and accountability, making it easier for organizations to demonstrate the impact of their grant-funded programs.

Advancements in Technology and Cloud-Based Solutions

With technological progress, the grant management software market is also growing due to the use of cloud-based solutions. The emergence of cloud-based grant management systems has several advantages. First, this approach is more accessible since an organization can work with its data from any device with Internet access. In addition, this solution is highly scalable and does not require additional investments in servers and IT infrastructure. On the contrary, cloud-based solutions save organizations funds.

The vendor constantly updates and improves these solutions. To summarize, the emergence of cloud-based grant management tools has benefited the increasing growth of this market.

Grant Management Software Market Segment Insights

Grant Management Software Market Deployment Type Insights

The Grant Management Software Market consists of the deployment type in terms of cloud-based and on-premises solutions. While the cloud-based grant management software is expected to experience increased adoption over the projected period, the Grant Management Software Market revenue from cloud deployment is estimated to total $2.4 billion by 2023 and grow at a CAGR of 14.2%. Some of the key factors contributing to the growing acceptance of cloud-based solutions are the increasing ease of use, flexibility, scalability, and cost-effectiveness.

The cloud-based grant management software also does not require organizations to invest in hardware and software infrastructure, saving them from the high initial investment costs and ongoing maintenance fees. In addition, because the cloud-based solution enables real-time access to data and data sharing, organizations can simplify and enhance their grant management efforts. On the other hand, the on-premises grant management software is also expected to maintain a significant market share over the projected period. The reason for this is that Grant Management Software Market data indicates the advantages of on-premise deployment in terms of data protection and customization.

Specifically, the on-premise Freedom of deployment allows organizations to retain control of their data and offer substantial customization capabilities. As a result, businesses that require high security or need specific software to meet their business needs are more likely to choose an on-premises solution. In spite of this, the typical barriers of on-premises hosting, including high upfront costs, are likely to constrain their acceptance.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Grant Management Software Market Organization Size Insights

The market is segmented by organization size, which includes small and medium enterprises and large enterprises. However, the small and medium enterprises held a larger share of the market in 2023 owing to the increased adoption of grant management software by these organizations. This is a result of small and medium enterprise firms needing to reduce their operational costs and use of resources when managing their grant. As a result they find this software effective. The large enterprise segment is expected to record significant growth over the forecast period.

This is a result of large enterprises needing to deploy management software that is comprehensive to effectively manage their grant portfolios, which are complex. As such, these enterprises are opting to invest in grant management software that will be effective on their side.

Grant Management Software Market End-User Industry Insights

The Grant Management Software Market is segmented by End-User Industry into Education, Healthcare, Nonprofit, Government, and Corporate. Among these, the Education segment held the largest market share in 2023, accounting for around 28.5% of the Grant Management Software Market revenue. The Healthcare segment is projected to grow at the highest CAGR of 14.5% during the forecast period, driven by the increasing adoption of grant management software by healthcare organizations to manage and track grants effectively. The Nonprofit segment is also expected to witness significant growth, with a projected CAGR of 12.9% over the forecast period.

The Government and Corporate segments are expected to have a steady growth rate, driven by the increasing need for efficient grant management solutions in these sectors.

Grant Management Software Market Functionality Insights

Functionality Segment Insight and Overview The functionality segment plays a crucial role in the Grant Management Software Market revenue, segmentation, data, statistics, industry, and market growth. It encompasses various functionalities that streamline and enhance grant management processes. Grant Search and Identification: This module aids organizations in identifying potential grants and funding opportunities that align with their objectives, fostering better grant acquisition. Application and Proposal Management: It supports the creation, submission, and tracking of grant applications and proposals, ensuring compliance with sponsor requirements and improving the chances of grant approval.

Review and Evaluation: This functionality facilitates the efficient review and evaluation of grant applications, enabling organizations to assess their strengths and areas for improvement, thereby enhancing their competitiveness. Award and Contract Management: This module automates the management of grant awards and contracts, including budget tracking, invoicing, and reporting, ensuring compliance and accountability. Monitoring and Reporting: It provides real-time visibility into grant performance, enabling organizations to track progress, identify potential issues, and generate comprehensive reports for compliance and impact measurement.

Grant Management Software Market Pricing Model Insights

The Grant Management Software Market is segmented by pricing model into subscription-based, per-seat, and per-use. The subscription-based pricing model is expected to dominate the market in the coming years due to its cost-effective nature and the flexibility it offers to users. The per-seat pricing model is expected to grow at a steady pace, while the per-use pricing model is expected to gain traction in the market. The Grant Management Software Market revenue from the subscription-based pricing model is expected to reach $X billion by 2024, while the per-seat pricing model is expected to generate $Y billion by 2024.

The per-use pricing model is expected to generate $Z billion by 2024. The market growth for the subscription-based pricing model is attributed to the increasing adoption of cloud-based grant management software solutions. The per-seat pricing model is expected to grow at a steady pace due to the increasing number of users opting for on-premise grant management software solutions. The per-use pricing model is expected to gain traction in the market due to the increasing demand for flexible and cost-effective grant management solutions.

Grant Management Software Market Regional Insights

The regional landscape of the Grant Management Software Market exhibits significant disparities in market growth and adoption patterns. North America holds a dominant position, capturing a substantial share of the revenue due to the presence of numerous grant-making organizations, government agencies, and non-profit institutions. The region's advanced technological infrastructure and widespread adoption of digital tools further contribute to its market leadership. Europe follows closely behind, driven by a robust grant ecosystem and a favorable regulatory environment.

The presence of major grant-making bodies and a large pool of grant recipients supports the growth of the Grant Management Software Market in Europe. APAC is emerging as a promising market, fueled by the increasing number of grant-funded projects and government initiatives aimed at promoting innovation and social development. The region's rapidly expanding non-profit sector and growing awareness of the benefits of grant management software are also driving market growth. South America and MEA represent relatively smaller but growing markets, with increasing adoption of grant management software solutions as organizations seek to streamline their grant management processes and improve efficiency.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Grant Management Software Market Key Players And Competitive Insights

Major Grant Management Software Market companies are constantly focusing on making a variety of joint ventures, acquisitions, and partnerships with tech companies in order to improve their market positions and gain more customers. Current leaders are making huge investments in R and constantly enhancing their product portfolios with new, powerful solutions to match and exceed the growing customer expectations. Apart from that, the Grant Management Software Market industry is beginning to move to the SaaS model, which is more flexible, scalable, and cost-effective. Thus, the majority of Grant Management Software Market users are already looking forward to implementing cloud solutions over the upcoming years. As the industry is constantly growing and changing, it is crucial to pay attention to the new Grant Management Software Market trends and improvements.

Salesforce is considered to be one of the world-renowned cloud-based CRM and other enterprise-level software providers, and Grant Management Software is no exception. Salesforce Grants Management solution is considered to cover the whole grant management process from the first opportunity to the post-award management and reporting. Salesforce Grant Management is known for its ease of use and flexible interface, as well as a range of other applications and integrations, including the Salesforce Family of Products. Huge investments in R and powerful brand recognition, along with a number of large customers along international presence, have made this organization one of the Grant Management Software Market leaders.

Oracle can be considered another key player in the Grant Management Software Market, as it is one of the world’s most powerful and biggest IT companies. Oracle provides a powerful grant management solution called Oracle Grants Management, which covers the full grants lifecycle, from pre-award to post-award and financial management. Oracle Grants Management is known for its high flexibility and scalability, as well as its unmatched capabilities to manage complex grant processes. Oracle’s focus on R and a range of partner organizations are among the key reasons for the company’s solid position in the Grant Management Software Market.

Key Companies in the Grant Management Software Market Include:

• 
  

  PrimeGov

  
  


• 
  

  Fluxx

  
  


• 
  

  ProposalCentral

  
  


• 
  

  Blackbaud

  
  


• 
  

  Vendor Registry

  
  


• 
  

  eCivis

  
  


• 
  

  TechSoup

  
  


• 
  

  Foundant Technologies

  
  


• 
  

  Salesforce

  
  


• 
  

  JMA Solutions

  
  


• 
  

  CausePilot

  
  


• 
  

  Neon One

  
  


• 
  

  Simplifi

  
  


• 
  

  Emburse

  
  

Grant Management Software Market Industry Developments

The grant management software market size was valued at USD 1.54 billion in 2023 and is projected to grow at a CAGR of 12.61% to reach USD 3.54 billion by 2032. The growth of the market is attributed to the increasing adoption of cloud-based grant management solutions, the growing need for efficient and transparent grant management processes, and the increasing government funding for research and development.

Recent news developments in the market include:

In February 2023, Fluxx, a leading provider of cloud-based grant management software, announced the launch of its new AI-powered grant management platform. The platform uses artificial intelligence to automate tasks, improve data accuracy, and provide real-time insights into grant performance.
In March 2023, the National Institutes of Health (NIH) announced a new initiative to streamline the grant application and review process. The initiative will involve the use of grant management software to automate tasks and improve the efficiency of the grant review process.

Grant Management Software Market Segmentation Insights

1. 
   

   Grant Management Software Market Deployment Type Outlook

   
   
   
   
   1. 
      

      Cloud-based

      
      
   
   
   2. 
      

      On-premises

      
      
   
   
   
   

2. 
   

   Grant Management Software Market Organization Size Outlook

   
   
   
   
   1. 
      

      Small and Medium-sized Enterprises (SMEs)

      
      
   
   
   2. 
      

      Large Enterprises

      
      
   
   
   
   

3. 
   

   Grant Management Software Market End-User Industry Outlook

   
   
   
   
   1. 
      

      Education

      
      
   
   
   2. 
      

      Healthcare

      
      
   
   
   3. 
      

      Nonprofit

      
      
   
   
   4. 
      

      Government

      
      
   
   
   5. 
      

      Corporate

      
      
   
   
   
   

4. 
   

   Grant Management Software Market Functionality Outlook

   
   
   
   
   1. 
      

      Grant Search and Identification

      
      
   
   
   2. 
      

      Application and Proposal Management

      
      
   
   
   3. 
      

      Review and Evaluation

      
      
   
   
   4. 
      

      Award and Contract Management

      
      
   
   
   5. 
      

      Monitoring and Reporting

      
      
   
   
   
   

5. 
   

   Grant Management Software Market Pricing Model Outlook

   
   
   
   
   1. 
      

      Subscription-based

      
      
   
   
   2. 
      

      Per-seat

      
      
   
   
   3. 
      

      Per-use

      
      
   
   
   
   

6. 
   

   Grant Management Software Market Regional Outlook

   
   
   
   
   1. 
      

      North America

      
      
   
   
   2. 
      

      Europe

      
      
   
   
   3. 
      

      South America

      
      
   
   
   4. 
      

      Asia Pacific

      
      
   
   
   5. 
      

      Middle East and Africa