Global Award Management Software Market to Reach $1.4 Billion by 2030
The global market for Award Management Software estimated at US$821.8 Million in the year 2023, is expected to reach US$1.4 Billion by 2030, growing at a CAGR of 8% over the period 2023-2030. Award Management Solutions, one of the segments analyzed in the report, is expected to record 7.8% CAGR and reach US$844.5 Million by the end of the analysis period. Growth in the Award Management Services segment is estimated at 8.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $215.6 Million, While China is Forecast to Grow at 11.9% CAGR
The Award Management Software market in the U.S. is estimated at US$215.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$351.2 Million by the year 2030 trailing a CAGR of 11.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 7.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
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