According to the new research report titled “Grant Management Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reachUS$ 2,907.4 million by 2027, registering a CAGR of 12.0% during 2020-2027.

Grant Management SoftwareMarket in APACto grow athighest CAGRDuring Forecast Period
Increasing number of NGOs, associations, research projects in universities, and other (Corporate Social Responsibility) CSR activities in developing countries, such as Mexico, China, India, and Australia, as well as other Southeast Asian countries, is one of the key factors driving the global grant management software market. Several companies in developing countries offer customized software for both grantors and grant recipients. Further, the increasing use of new technologies is one of the significant contributors to the grant management software market. The automation and digitization of the entire grants process provide an excellent opportunity to measure and reduce risks for grantors and grant recipients. The implementation of advanced technologies such as machine learning (ML) and advanced analytics enables data-driven decisions to help return on grant investments.

The grant management software market in APAC is further segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Rise in smartphone and Internet penetration in Asia Pacific countries is a significant opportunity for the key players in the grant management software market. The market in APAC is anticipated to grow at the highest pace during the forecast period due to increasing demand for grant management software and services. These software allow SMEs and large enterprises to fine-tune the grant process. China, Australia, and Japan are the leaders in the grant management software market in APAC. To empower communities in the region to develop, design, and implement Internet-based solutions, the Information Society Innovation Fund (ISIF Asia) announced three grant programs-Internet for Development Grants, Internet Operations Research Grants, and Cybersecurity Grants-in September 2017. ISIF Asia also offers support and assistance through competitive grants and award processes, with a prime goal to increase the contributions from digital innovators in Asia Pacific.

Key Findings of Study:
The grant management software market, based on component, is segmented into solutions and services. The solutions segment is a major contributor to the grant management software and is expected to continue its share-based dominance during 2020-2027. However, the services segment is anticipated to register a higher CAGR in the grant management software marketduring the forecast period.
On the basis of deployment type, the grant management software market has been segmented into cloud and on-premise. The companies that are planning to make significant investments in these software might opt for modern platforms by rapidly adopting cloud-based solutions as they are reliable and less expensive. Thus, the cloud segment holds a larger share of the grant management software market, and it is expected to continue to be a larger shareholder during the forecast period.

The grant management software market, based on organization size,is segmented into large enterprises, and small and medium enterprises (SME). The large enterprises segment dominates the grant management software market, in terms of share, and it is foreseen to continue its dominance during the forecast period. However, the stupendously growing number of SMEs worldwide and the demand for grant managerial solutions among SMEs are anticipated to propel the growth of grant management software market for the SMEs segment in the coming years.
The COVID-19 pandemic, which was first reported in December 2019, has affected more than 180 countries so far. The pandemic has significantly impacted the grant management software market in 2020, and its impact is likely to continue in 2021 as well. The flight cancellations, travel bans, and quarantine and lockdown impositions, as efforts to contain the spread of the virus, have resulted in the shutdown of schools and colleges closed andrestrictions on all indoor events.

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