Need for Cloud-Based Deployment to Stimulate Demand for Corporate Volunteering Platform among SMEs
According to our latest market study on “Corporate Volunteering Platform Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Deployment Type (Cloud and On-Premise) and Organization Size (SMEs and Large Enterprises),” the market was valued at US$ 731.7 million in 2020 and is projected to reach US$ 1,359.7millionby 2027; it is expected to grow at a CAGR of 9.3% from 2020 to 2027.The report highlights the key factorsdriving the market growth, and prominent players and their developmentsin the market.
In the past few years, several companies have designed and developed asset tracking.The corporate volunteering platform market is at a nascent stage, and the software has gained popularity in recent times, as the demand for the same is stimulating among the emerging SMEs across the globe. The software as a service (SaaS) modules have facilitated numerous businesses to flourish over the years and they are still continuing to mature businesses globally. In recent years, a number of corporate volunteering platform developers are evolving in order to help the new SMEs to strategize their corporate social responsibility (CSR) activities in a cost-effective and efficient manner. Increasing number of SMEs across the globe is positively influencing the growth of the corporate volunteering platform market.
Virtual volunteering is another platform that savvy companies are utilizing for expanding their employee philanthropic offerings and CSR endeavors. Virtual volunteering enables volunteers to offer services through smartphones, computers, tablets, or other connected devices. Through virtual volunteering, employees can support organizations online that they are already supporting onsite. Other employees who are unable to help onsite at a nonprofit organization or school have the option of volunteering online owing to the convenience. Virtual volunteering platform can connect volunteers of numerous skills, backgrounds, and cultures that may not be accessible locally, thereby optimizing an organization’s resources. This volunteering type provides additional support by sharing the participant’s information with their communities and companies, building a support network.
Moreover, employees are working remotely due to COVID-19 pandemic.They are not getting continuous exposure to their company culture;hence, the employee engagement has become more crucial than ever. Employee engagement professionals worldwide seek innovative methods to keep their employees engaged from home and associated with the company’s objective. To fulfill the requirements of employee engagement professionals, Goodera has come up with a virtual volunteering solution, which is a way of giving back to the community on an individual level from the safety and comforts of one’s home. Through virtual volunteering, employees are able to work continually for the causes they are passionate about. Moreover, companies such as Causecast, make it easy for enterprises to get their workforce volunteering online. Causecast’s Community Impact Platform supports companies by promoting virtual volunteering opportunities through an online giving and volunteer platform to make volunteering accessible for busy employees. Thus, rising requirement for virtual volunteering platforms provides lucrative opportunities for market players, thereby boosting the market growth in the next few years.
COVID-19 Impact on Corporate Volunteering Platform Market The US is a prominent market for corporate volunteering platform. The COVID-19 outbreak has severely affected the country in terms of confirmed cases and reported deaths.This hasaffected software providers to some extent due to the decrease in demand for their products. The business shutdowns as well as social distancing across the US, Canada, and Mexico are impacting the adoption of the corporate volunteering platforms. North America is a home to a large number of technology companies, and the impact of COVID-19 outbreak is anticipated to be moderate in 2020 and it is likely to continue in the first quarter of 2021. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.
The report segmentsthe global corporate volunteering platform marketas follows: By Deployment Type