Award Management Software Market Size, Share and Trends 2025 to 2034

Award Management Software Market Size and Forecast 2025 to 2034

The global award management software market size accounted for USD 721.25 million in 2024 and is predicted to increase from USD 821.79 million in 2025 to approximately USD 2,659.79 million by 2034, expanding at a CAGR of 13.94% from 2025 to 2034. The market growth is attributed to the rising need for streamlined, transparent, and automated management of grants, scholarships, and funding programs.

Award Management Software Market Key Takeaways

• North America dominated the global market with the largest share of 33% in 2024.
• Asia Pacific is anticipated to grow at the fastest CAGR in the market during the forecast period.
• By component, the solutions segment held the biggest market share of 64% in 2024.
• By component, the services segment is expected to grow at the fastest CAGR during the forecast period. 
• By deployment, the cloud segment contributed the largest market share in 2024.
• By deployment, the on-premises segment is anticipated to grow at the highest CAGR over the studied years.  
• By organization size, the large enterprises segment led the global market in 2024. 
• By organization size, the SMEs segment is projected to expand rapidly in the coming years.
• By vertical, the corporation segment generated the major market share in 2024.
• By vertical, the education institutes segment is projected to grow at the fastest CAGR in the near future.

Impact of Artificial Intelligence on the Award Management Software Market

Artificial Intelligence significantly impacts the market. AI has the ability to streamline application review processes by detecting fraudulent applications. Award organizations depend on AI to evaluate extensive data quantities speedily for maximizing resource distribution. Additionally, AI-powered solutions empower institutions to operate grants and awards at higher levels of efficiency in a data-led dynamic system.

U.S. Award Management Software Market Size and Growth 2025 to 2034

The U.S. award management software market size was exhibited at USD 166.61 million in 2024 and is projected to be worth around USD 628.18 million by 2034, growing at a CAGR of 14.19% from 2025 to 2034.

North America led the award management software market by capturing the largest share in 2024. This is mainly due to its advanced digital infrastructure and well-established public grant systems. The U.S. Department of Health and Human Services (HHS) managed over 95,000 grants through digital systems in 2023, highlighting the need for award management software. Multiple institutions, universities, and non-profit organizations in the U.S. and Canada chose cloud-based tools for managing grant programs. Furthermore, academic institutions, healthcare facilities, and philanthropic organizations continued their transition to real-time reporting systems due to strict regulatory requirements. The region has a large funding landscape, boosting the adoption of award management software solutions.

Asia Pacific is anticipated to grow at the fastest rate during the forecast period. The regional market growth can be attributed to the growing government funding programs and the rising number of academic research programs. With the rising research activities, there is a high demand for efficient award management software to streamline research grant management. The governments of India, China, and Vietnam joined forces in 2024 to unite their award platforms to enhance funding and reporting operations. Furthermore, the increasing digitization in every sector significantly influences the market.

The European award management software market is expected to grow at a notable rate in the foreseeable future. This is mainly due to the rising research grants in the region. Several public institutions across Germany, France, and Sweden are adopting cloud solutions for streamlining workflows. Furthermore, in 2023, the WHO’s Regional Office for Europe, together with health ministries in Spain and Poland, established grant tracking systems designed for disease surveillance and health equity projects. In addition, the increasing government investments in R&D activities contribute to regional market growth.

Market Overview

The growing need for transparent award management systems with digital components and regulatory compliance encourages organizations to adopt award management software. Award management software lets organizations automatically complete the award cycle, including application receiving and evaluation before disbursement. They also help in record-keeping while achieving regulatory requirements and compliance for audits. These platforms help educational and government institutions handle public funds. The rising demand for safe digital award management solutions with user-friendly capabilities fuels the growth of the market.

Award Management Software Market Growth Factors

• Increasing Demand for Data-Driven Decision-Making: Organizations are adopting award platforms to leverage analytics for tracking impact and optimizing fund allocation strategies.
• Growing Adoption of E-Governance: Government bodies worldwide are expected to accelerate digital transformation initiatives to streamline public funding and grant processes.
• Rise in Cross-Sector Collaboration: Rising partnerships between academia, government, and non-profits are projected to boost the demand for centralized award-tracking tools.
• Emphasis on Award Compliance Monitoring: Rising scrutiny over fund utilization and regulatory audits is anticipated to drive the need for automated compliance workflows.
• Need for Multilingual Accessibility: Increasing diversity in global funding programs is likely to boost the demand for platforms that support multi-language applications and review modules.
• Shift Toward Remote and Hybrid Work Models: Distributed teams are expected to fuel the adoption of cloud-based collaborative award management platforms.

Market Scope

Market Dynamics

Drivers

Growing Demand for Transparent and Accountable Award Distribution

Increasing demand for transparent and accountable award distribution technology is expected to boost the growth of the award management software market. Every step of award distribution requires tracking and auditing, as government agencies, academic institutions, and non-profits focus on fund allocation transparency. Digital award platforms integrate automated compliance capabilities. This matches regulatory specifications and generates instantaneous documentation that satisfies audit standards. Implementing these systems helps businesses prevent errors in monetary allocations while strengthening their reputation. The CDC deployed new digital grant management systems in 2024 while promoting uniform distribution of funds for transparent funding processes during health crises. Moreover, the global community speeds up its adoption of accountable grants for safer distribution of grants and awards, further fuelling the market.

Restraint

High Implementation Costs

High implementation costs limit the adoption of award management software across small and medium-sized organizations, which is anticipated to restrain the growth of the award management software market. Small, non-profit educational institutions and local government agencies generally work with limited budgets, which obstruct their ability to invest in award management systems. Award management platforms come with higher costs because they need licensing payments, integration support, and worker training services. Additionally, the restricted financial resources available to small entities block their path to implementing expandable digital solutions, thus hindering the market. 

Opportunity

Expansion of Funding Programs 

The rising number of funding initiatives among government entities and private companies is likely to create immense opportunities for key players competing in the market. Businesses and governments worldwide are focusing on social responsibility programs and funding initiatives, necessitating flexible solutions for managing awards. Funding bodies require platforms that effectively handle many award programs while simplifying their review procedures. Award management systems serve grant needs by creating flexible modules. Furthermore, the current funding programs benefit from digital platforms, which demonstrates increasing dependence on such technology to support growing program needs and complexity.

Component Insights

The solutions segment dominated the award management software market with the largest share in 2024. This is mainly due to the rise in the number of grant applications in educational institutions, government entities, and philanthropic organizations. This caused stakeholders to select configurable solution systems designed for their individual workflows. These solutions improved monitoring procedures and automation to follow funding agency protocols. In 2024, the CDC launched its digital transformation initiative to establish integrated platforms that reduced manual processing time.

The services segment is expected to grow at the fastest rate during the forecast period, owing to an increase in the requirement for implementation assistance and continuous system optimization. Enterprise award management systems are becoming smarter through AI analytics, multilingual features, and cloud deployment. This drives organizations to work with expert service providers to sustain proper system operations, which further fuels the segment growth in the coming years.

Deployment Insights

The cloud segment held the largest share of the award management software market in 2024. The growth of the segment is driven by the increased adoption of scalable remote platforms for maintenance-free operations with real-time collaboration. Organizations are increasingly shifting toward solutions that provide cost-efficient deployment. Cloud-based platforms enable remote control as well as better disaster recovery capabilities. The high flexibility, scalability, and cost-effectiveness of cloud-based solutions further bolstered the segmental growth. In 2024, the NIH transitioned multiple grant evaluation platforms to the cloud to achieve secure cross-site collaboration for its different teams.

The on-premises segment is anticipated to grow at the highest CAGR over the studied years, owing to the growing focus on the protection of application and funding information across government or large-scale agencies. On-premises deployment enables institutions to keep their data on in-house servers to maintain complete authority for user privileges. Moreover, the high security provided by this deployment contributes to segmental growth.

Organization Size Insights

The large enterprises segment dominated the award management software market in 2024. These organizations handle numerous grant programs at once, requiring automation solutions to reduce the burden. This, in turn, boosts the need for award management software. Major large institutions, including government agencies, international companies, and research universities, focused on getting scalable solutions backed by advanced analytics and audit tracking capabilities, thus propelling the segment.

The SMEs segment is projected to expand rapidly in the coming years owing to the rising demand for affordable cloud-based award management solutions. More businesses with smaller structures now need efficient software systems designed to handle administrative workloads. The rising demand for automation solutions among SMEs to streamline operations and boost productivity further propels market growth.

Vertical Insights

The corporation segment held the largest share of the award management software market in 2024. This is mainly due to the increased number of programs for employee recognition and funding initiatives. Many corporations have integrated award management software to automate the tracking of grants. Furthermore, corporations often obtain platforms with multilingual features that enable consistent transparency between their different regional operations. 

The education institutes segment is projected to grow at the fastest rate in the near future. The segmental growth can be attributed to the growing academic research grants and international academic partnerships focused on innovation. Educational institutions across India, Canada, and Germany started utilizing award platforms to oversee fellowships and institutional endowments, thus creating the demand for this type of software solution.

Award Management Software Market Companies

• Zealous Solutions
• Wizehive
• Submittable
• Submit.com
• RhythmQ Inc
• reviewr
• Openwater.in
• Omnipress
• Judgify Ltd.
• IMPEXIUM
• Evalato
• Currinda Pty. Ltd.
• Blackbaud, Inc.
• AwardStage
• Award Force (Creative Force Ltd)
• ALPHA
• AcclaimWorks Ltd.

Recent Developments

• In March 2025, Dynamo Software, an end-to-end investment management platform, announced that its portfolio management software (PMS) has been recognized as the leading solution in the Best Portfolio Management System category at the Fund Intelligence Operations and Services awards program. 
• In October 2024, Euna Solutions, a leading provider of cloud-based solutions tailored for the public sector, announced that it has been awarded the Gold winner in the GovTech category at the 2024 Globee Awards for Business. This recognition was given to Euna Solutions' comprehensive grants management software, Euna Grants.
• In March 2023, SmartSimple Software, a prominent provider of cloud-based scholarship and grants management solutions, launched SmartSimple Cloud+AI. This innovative product incorporates transformative AI support throughout the entire scholarship and award management lifecycle, streamlining processes and significantly reducing the administrative burden.

Segments Covered in the Report:

By Component

• Services
• Solutions

By Deployment

• Cloud
• On-premises

By Organization Size

• SMEs
• Large Enterprises

By Vertical

• Philanthropic Organization
• Education Institutes
• Government
• Industry Association
• Corporation
• Others 

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa