At 11.4% CAGR, the South America Grant Management Software Market is projected to be worth US$ 127.45 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South America grant management software market was valued at US$ 32.13 million in 2023 and is expected to reach US$ 55.12 million by 2028, registering a CAGR of 11.4% from 2023 to 2028. Emergence of AI and increasing adoption of cloud-based solutions are the critical factors attributed to the South America grant management software market expansion.      

Developing countries are experiencing a rise in the number of SMEs inclined toward adopting software-based automated solutions. The demand for grant management software is on the rise as SMEs are increasingly emphasizing automated solutions to enhance business operations. Grant management software analytics enables consumers to understand the budget forecast and grant budget reports. There is an increased awareness of grant management software benefits among companies in developing regions. In developing countries with limited resources, grant management software can significantly reduce the manual work and increase the capacity of organizations to apply for, manage, and receive reports on grants. It allows organizations to track where funding is going and how it is being used, helping to promote transparency and accountability. Thus, rising awareness about the benefits of grant management software among companies in developing countries is expected to create lucrative opportunities for the grant management software market in the coming years.    

On the contrary, high-security concerns and high complexity and cost of integration hurdles the growth of South America grant management software market.

Based on component, the South America grant management software market is categorized on as software and services. The software segment held 88.2% market share in 2023, amassing US$ 28.33 million. It is projected to garner US$ 48.86 million by 2028 to expand at 11.5% CAGR during 2023–2028.

Based on deployment type, the South America grant management software market by has been segmented into cloud and on-premises. The cloud segment held 80.5% market share in 2023, amassing US$ 25.86 million. It is projected to garner US$ 45.71 million by 2028 to expand at 12.1% CAGR during 2023–2028.

Based on organization size, the South America grant management software market by is bifurcated into large enterprise and small and medium enterprises (SMEs). The large enterprises segment held 73.8% market share in 2023, amassing US$ 23.72 million. It is projected to garner US$ 39.90 million by 2028 to expand at 11.0% CAGR during 2023–2028.

Based on end user, the South America grant management software market is segmented into educational institutes, governments, BFSI, nonprofit organizations, and others. The government segment held 33.4% market share in 2023, amassing US$ 10.74 million. It is projected to garner US$ 18.78 million by 2028 to expand at 11.8% CAGR during 2023–2028. 

Based on country, the South America grant management software market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 75.6% market share in 2023. It was assessed at US$ 24.27 million in 2023 and is likely to hit US$ 42.18 million by 2028, exhibiting a CAGR of 11.7% during the forecast period.

Key players dominating the South America grant management software market are Oracle Corp; Salesforce Inc; Sage Group Plc; and Workday Inc, among others.

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