According to a new market
research report "Award Management
Software Market by
Component, Function (Entry Management, Judging Management, Reporting and
Analytics, and Application Tracking), Platform, Deployment Type, Organization
Size, End User, and Region - Global Forecast to 2025", published by MarketsandMarkets,
the Award Management Software Market is expected to grow from USD 559 million
in 2020 to USD 856 million by 2025, at a Compound Annual Growth Rate (CAGR) of
8.9% during the forecast period. The growing demand to scale award efforts with
the help of advanced technology, establish a communication between award
organizers, applicants and judges, increasing need to engage with the
customers, and deliver an enriched experience continuously are some of the
major factors driving the growth of the Award Management Software Market.
Browse in-depth TOC on "Award Management Software Market”
105- Tables
26- Figures
149- Pages
105- Tables
26- Figures
149- Pages
By end user, corporations to hold the largest market size in
2020
In the current competent market, both small and large businesses
leverage contests and events to position themselves apart from their
competitors and attract more talented professionals at their workplace. The
award management solution can help corporations in implementing various
strategies, including entertainment of staff members, launch of new products,
recruitment through creative contests, and employee motivation. Corporations
are emphasizing on adopting the award management solution to boost the
performance of award teams for better engagement of customers. Increasing
automation in the corporation sector to increase business efficiency and remain
competent in the market are major factors contributing to the growth of the
Award Management Software Market.
Services segment to grow at a higher CAGR during the forecast
period
Award management services have a full scope of usage, ranging
from assistance to customers for deployment of solution, integration, and
implementation, to cater to the business-specific needs of organizations. Award
management services help organizations bridge legacy systems to modern
applications and take care of consulting and training work so that customers
can focus on their core business. This has created opportunities for vendors to
provide services to enterprises across different end users and help them deal
with complexities while configuring the award management solution.
North America to have the largest market size during the
forecast period
North America is estimated to account for the highest share of
the Award Management Software Market
during the forecasted period. The region comprises developed countries, such as
the US and Canada, and is considered the most advanced area in terms of
adopting digital technologies. The North American region exhibits an extensive
presence of key industry players offering award management solutions and
services, and its financial position enables the region to invest majorly in
leading tools and technologies for effective business operations.
Major vendors offering award management solution and services
across the globe includes Blackbaud (US), WizeHive (US), Submittable (US),
Evalato (Spain), Award Force (Australia), SmarterSelect (US), Reviewr
(US), Eventsforce (UK), Currinda (Australia), AwardStage (UK), AcclaimWorks
(England), Judgify (Singapore), Untap Compete (Egypt), OpenWater (US),
omniCONTESTS (US), eAwards (Philippines), alpha awards (Austria), Omnipress
(US), Submit.com (Ireland) and RhythmQ (Canada).
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Content Source: https://www.marketsandmarkets.com/PressReleases/award-management-software.asp
Report: https://www.marketsandmarkets.com/Market-Reports/award-management-software-market-18067784.html
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/award-management-software.asp
Report: https://www.marketsandmarkets.com/Market-Reports/award-management-software-market-18067784.html
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