USD 756.71 Million
Award Management Software Market Size, Share, and Growth Analysis
Award Management Software Market By Component, By Function, By Platform, By Deployment Type, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45B2166 |
Region:
Global |
Published Date: December, 2024
Pages:
167
|Tables:
114
|Figures:
72
Format -
Award Management Software Market Insights
Award Management Software Market size was valued at USD 756.71 Million in 2023 and is poised to grow from USD 818.76 Million in 2024 to USD 1421.49 Million by 2032, growing at a CAGR of 8.2% during the forecast period (2025-2032).
Award management software market is witnessing momentum, driven by several factors like digital transformation, rising demand for transparency, intensified competition, and emphasis on user experience. Businesses are actively implementing digital solutions for simplified processes, such as award management. The inclination towards automated systems reduces administrative pressure and improves efficiency. The market is also fueled by the growing focus on fairness and transparency in award processes. Furthermore, as more businesses are introducing award programs, the need for well-developed management tools to manage applications and tools effectively increases. The increased adoption is also driven by better user experience via mobile accessibility.
Nonetheless, the global award management software market is restrained by the high initial cost of the said software, which could be a challenge for smaller businesses. This could restrict their access to such tools, thus limiting market growth. Businesses may also witness internal resistance to shift towards software-based solutions, mainly in well-established businesses with embedded practices, affecting the adoption. Also, most software may be complicated and need additional training, resulting in complexity for businesses to adopt novel systems. Yet, the market is projected to progress remarkably owing to a few opportunities, including integration with tools like HR systems, CRM tools, and marketing platforms and growing scalability and customization.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Solution
Fastest Growth
Service
Growth Rate
8.2% CAGR
Global Award Management Software Market ($ Bn)
Country Share for North America Region (%)
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Award Management Software Market Segments Analysis
Global Award Management Software Market is segmented by Component, Function, Platform, Deployment Type, Organization Size, End User, and Region. Based on Component, the market is segmented into Solution, and Services. Based on Function, the market is segmented into Entry Management, Judging Management, Reporting and Analytics, Reporting and Analytics, Application Tracking, and Others. Based on Platform, the market is segmented into Web, and Mobile. Based on Deployment Type, the market is segmented into On-premises, and Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and Small and Medium-sized Enterprises. Based on End User, the market is segmented into Governments, Educational Institutions, Corporations, Industry Associations, Philanthropic Organizations, and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Component
Based on component, the award management software market is categorized into solution and service. The solution segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to exhaustive functionality, high efficiency, and better user experience. Solutions usually comprise numerous features like judging, submission management, analytics, and reporting, which appeals to businesses seeking an all-inclusive platform. By automating different processes, the said solutions significantly reduce effort and time needed for judging and managing applications, improving operational efficiency. Solutions also focus on offering user-friendly interfaces that enhance overall user experience for judges and candidates, resulting in high engagement and satisfaction.
On the other hand, the service segment is projected to grow considerably over the forecast period owing to the better support and customization, training and ongoing maintenance, and improved user adoption. Services mostly comprise customization and consulting options, assisting businesses to customize software to dedicated needs for successful adoption. Providers also offer support and training for better use of software and optimize its capabilities. Exhaustive service offerings streamline smooth shift to novel systems. This results in increased adoption and enhances overall engagement. The segmental growth is also propelled service offerings that enable businesses to scale their software use as required without additional investments.
Analysis by End-User
Based on end-user, the market is segmented into government, educational institute, corporation, industry association, philanthropic organization, and others. The corporation segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to growing number of recognition programs, competitive advantage, and higher demand due to complex processes. Corporations mostly adopt awards solutions for employee recognition and their achievements, thus driving engagement and their morale. This considerably drives the demand for award management solutions. By using awards, companies differentiate themselves in the marketplace, resulting in higher investment in stronger management solutions. Also, to handle large volume judging, reporting, and submissions, corporations implement complex awards programs that need high-tech management tools.
On the other hand, the educational institute segment will hold a remarkable market share in the coming years owing to different award programs, emphasis on meritocracy, and administrative efficiency. Education institutes mostly have different scholarships, awards, and recognitions to handle, which increases the demand for exhaustive software to manage assessments and submissions efficiently. universities and schools highlight merit-based awards to motivate students, thus fueling the demand for better management tools to simplify such processes. Award management software aids education institutes reduce pressure on the administration, streamlining the tracking process, judge entries, and handling communications. These factors are expected to fuel the segment's growth.
Global Award Management Software Market Size By Component
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Award Management Software Market Regional Insights
Region-wise, North America dominated the market in the previous years and is expected to lead over the forecast period owing to advancements in technologies, robust corporate presence, and strong educational sector. North America is a center for numerous innovations and technological advancements, which drives the adoption and development of enhanced award management solutions. Several large businesses and corporations in the region use awards to motivate employees and for their brand recognition. This increases their demand for efficient management software. Several educational institutes adopt award programs for recognitions and scholarships, thus impacting the market growth in the region. The key players profiled in the region include Submittable, OpenWater, AwardForce, Reviewr, FluidReview, Jotform, Cvent, and more.
Asia-Pacific is the fastest-growing region in the global award management software market due to speedy digital transformation. Progressing corporate sector and expanding educational institutions. Several countries in Asia-Pacific are witnessing heavy digitalization, encouraging businesses to implement software solutions for automation and efficiency. The growth of multinational businesses and startups in the region is driving the need for well-organized award programs to improve employee recognition and engagement. A rising number of educational institutes are also adopting award programs to motivate student achievements, thus impacting the demand for advanced management software in the region. Furthermore, businesses and governments are heavily investing in technology, thus impacting the market growth.
Global Award Management Software Market Size By Geography
- Largest
- Fastest
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Award Management Software Market Dynamics
Award Management Software Market Drivers
Growing Demand for Fairness and Transparency
- Stakeholders are highly aware and understand the transparency need in award processes. Software solutions offer features that improve fairness like detailed reporting and blind judging competencies depending on the assessment process. Transparency and fairness also build trust among participants. This motivates more businesses to adopt award programs and implement this management software for better credibility.
Emphasis on Student and Employee Engagement
- Businesses are using award culture to recognize achievements by employees and boost their confidence. This ultimately results in high employee retention rates. Similarly, educational institutes also use awards to motivate students’ participation and performance throughout. Furthermore, awards contribute to a positive business culture, increasing its significance in schools and companies to handle programs efficiently.
Award Management Software Market Restraints
Complexity Associated with Features
- A few of the award management software programs could be complicated for use due to numerous features that need time to understand and learn. Hence, users may find this difficult to navigate systems properly, thus slowing its adoption. Also, abundance of attributes may overwhelm businesses and specifically the users, resulting in slow adoption of the improved capabilities and reducing effectiveness.
Data Security Issues
- Award programs mostly comprise handling of confidential data, comprising personal information of students or employees. This increases the risk of data breaches that could impede businesses from implementing cloud-based solutions. Businesses should also essentially comply with strict data protection regulations like GDPR that may complicate the adoption of award management software.
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Award Management Software Market Competitive Landscape
The competitive landscape of the global award management software market is differentiated by the blend of emerging startups and established players engaged in offering unique capabilities and features. Prominent players like Submittable, AwardForce, OpenWater, and Reviewr are focusing on offering improved features like simplifying management solutions and offering customization and flexibility. Among a few software offerings, providers are emphasizing the integration of AI, mobile accessibility, and data analytics. Several players are also engaged in alliances and collaborations with educational institutions and industry associations to increase their reach and improve credibility. Overall, the market is dynamic with a wide range of solutions for different business needs.
Top Players in Award Management Software Market
- Submittable
- Evalato
- Award Force
- SmarterSelect
- Reviewr
- Currinda
- AwardStage
- AcclaimWorks
- Judgify
- Untap Compete
- OpenWater
- OmniContests
- eAwards
- Alpha Awards
- OmniPress
- Submit.com
- RhythmQ
Recent Developments
- In September 2024, Blackbaud, a leading provider of powering social impact software announced a broad range of modernizations that shape the future of social impact solution. The company is changing the way social impact businesses operate, improving data-based decision-making and giving back time. With superior technologies, hundreds and thousands of companies, foundations, and schools can increase their impact in communities worldwide.
- In March 2024, Impexium Inc. launched Impexium Talk (I-Talk) that empowers executives of businesses to navigate their AMS (association management system) using native language. This allows unbroken access to the functions of core membership management with spontaneous dashboards and the ability to offer support to the members of the association.
- In August 2024, Submittable, a prominent provider of social impact announced that it completely acquired WizeHive. This purchase of WizeHive will drive innovation in corporate social responsibility and grants management software. This streamlines tasks for changemakers to fuel impact.
Award Management Software Key Market Trends
- Reporting and Data Analytics: Award management software is gaining prominence among businesses owing to the integration of advanced tools and technologies. The software is increasingly incorporated with reporting tools and advanced analytics. Businesses are aiming for insights into judge performance, submission trends, and overall effectiveness of the program. These analytics assist in better data-driven decisions, presenting impact to the stakeholders and enhancing the awards process.
- Incorporation with Other Systems: Recent years have witnessed inclination towards unified integration with other systems, comprising marketing platforms, (CRM) Customer Relationship Management tools, and event management solutions. This interoperability ensures a consistent user experience in all the functions and improves data flow. This streamlines management of awards processes for businesses along with several other operations.
Award Management Software Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the award management software market is considerably progressing due to growing digital transformation, increasing competition among businesses, and emphasis on student and employee engagement. Since award programs help to bring a positive culture, businesses and schools are actively adopting and managing these programs, thus driving the market. In addition, the market is also driven by growing scalability and customizations, integration with other systems, and the growing importance of inclusion and diversity. However, the market is hampered by challenges associated with integration, fewer customization options, and short-term focus on award programs. North America is anticipated to lead the market owing to increased adoption rates, emphasis on data-driven decision-making, and a strong educational sector. Nonetheless, a few opportunities for the growth of the award management software market include rising demand for analytics, growing collaborations and partnerships, and increased mobile accessibility.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 756.71 Million |
| Market size value in 2032 | USD 1421.49 Million |
| Growth Rate | 8.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Award Management Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Award Management Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Award Management Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Award Management Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Award Management Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Award Management Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Award Management Software Market Report Snapshots
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