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Global Award Management Software Market to Grow at a CAGR of 8.6% During the Period 2022-2027, Driven by the Need to Effectively Manage Award Processes

According to a new report by EMR titled, ‘Global Award Management Software Market Report and Forecast 2022-2027’, the global award management software market is expected to grow at a CAGR of 8.6% during the period 2022-2027, led by advanced solutions catering to different types of organizations.

The global award management software market is expected to be driven by organizations’ need to effectively manage their award processes. North America and Europe are expected to be key markets.

Award management software are used by firms to manage awards processes, including submission, collection, nomination, judging and awarding. All types of organizations use award management solutions to manage every phase of the awards process. Schools, educational institutions and businesses use management software to accept and examine applications, judge submissions, and release results to participants through a single platform. Award management software consolidate data pertinent to awards processes. Award management solutions often contain grant management features. Solutions in this category also offer data integration features, and are often used in combination with non-profit software. Such uses are expected to boost the global award management software market. Some popular award management software include:

Award Force – This cloud software is designed for organisers of awards, employee recognition, grants, scholarships and pitch competitions to manage submission, evaluation and award of results, online. The solution is devised for performance and function; it is fast, secure, and delivers a superior experience for all program participants. Award Force is used for awards management, staff excellence/employee recognition, grant application management, accelerator program intake, incubator program intake, venture or seed capital.

SurveyMonkey Apply – The solution helps organizations optimize collection and review of applications for scholarships, awards, grants and other programs.

Submittable – Submittable offers tools to launch, measure, and grow social impact programs, locally as well as globally. The solution entails grants, scholarships, awards and CSR programs. The start-to-finish platform makes workflows smarter and more efficient, enabling better decisions and larger impact.

OpenWater App & Review Cloud – A cloud-based application and review platform devised to automate and help grow awards and recognition programs along with fellowships, scholarships, grants, and abstract submissions.

Evalato – This is a next-gen awards management software that helps collect applications readily, and enables evaluation and selection of winners. It is suitable for awards, prizes, nominations, competitions, incubators, corporate givings and other programs. Evalato offers streamlined and intuitive processes for program managers, applicants and reviewers.

WizeHive Zengine – This is a flexible solution meant to manage grants, scholarships, and more through the entire apply/review/manage/report cycle, providing tailored workflows, engaging experiences, and impact analysis.

Zealous – UK’s leading cloud-based submission management platform; it helps collect, manage, and review creative submissions at one place. The solution automates processes, keeps users up to date, and offers real-time insights into applications.

Reviewr – This is a cloud-based submission management software developed specifically to power programs like awards, grants, scholarships, contests, etc. The solution spares valuable time that may be allocated to other activities, and provides participants, volunteers, and sponsors engaging experiences.

Other popular solutions include Untap Compete, AwardStage, Judgify, SmarterSelect, Submit.com, Acclaimworks, eTalenter, Enquire, among others.

Key Findings of the Report:

  • The need to effectively manage award processes is expected to boost the global award management software market. 
  • Advanced solutions that cater to different types of organizations, help automate processes, keep users up to date, and offer real-time insights into applications, are likely to stimulate the market. 
  • North America and Europe are projected to be key markets.

Market Analysis by Type, Development Type, Function, End User and Region:

  • By type, the market is classified into Services and Solution.
  • By deployment type, the market is segmented into On-premises and Cloud.
  • By function, the market is divided into Judging Management, Entry Management, Application Tracking, Reporting And Analytics, and Others.
  • By end user, the market is segmented into Government, Corporations, Educational Institutions, Industry Associations, Non-Profit Organizations, and Others.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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