Corporate Volunteering Platform Market to Grow at a CAGR of 9.3% to reach US$ 1359.7Million from 2020 to 2027

The corporate volunteering platform market expected to grow from US$ 731.7 million in 2020 to US$ 1359.7 million by 2027; it is estimated to grow at a CAGR of 9.3% from 2020 to 2027.

Implementation of virtual volunteering platform for employee engagement is attributing to the growth of the 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 device. Through virtual volunteering, employees can support organizations online that they are already supporting onsite. Other workforces who are unable to help onsite at a nonprofit organizations or school have the option of volunteering online owing to the convenience. Considering time constraints and geographic boundaries, 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 participant’s information with their communities and companies, building a support network.

Moreover, with employees working remotely to deal with the risk of COVID-19 pandemic and are not getting continuous exposure to their company culture, the management of employee engagement by the companies 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 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. Likewise, 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, the rising requirement for virtual volunteering platforms provides lucrative opportunities for Corporate Volunteering Platform market players, thereby boosting the market growth in the coming years.

Impact of COVID-19 Pandemic on Corporate Volunteering Platform Market

The huge increase in the number of confirmed cases and rising reported deaths worldwide has affected software providers to some extent due to the decrease in demand for their products. The business shutdowns as well as social distancing laid down by respective government bodies are impacting the adoption of the corporate volunteering platform market. The demand for digital solutions, especially has grown at a high rate in the past few months. A significant number of corporates have taken significant initiatives to volunteer to the affected areas. As a result, the adoption rate of volunteering platform is expected to grow in the coming years to manage all the operations.

Lucrative Regions in Corporate Volunteering Platform Market

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Market Insights–Corporate Volunteering Platform Market

Implementation of Emerging Technologies with Corporate Volunteering Platform

The artificial intelligence (AI) plays a vital role in all types of organization. AI's ability to provide quick mathematical calculations to augment the vital abilities of human intelligence is anticipated to generate the greatest growth opportunity for the corporate volunteering platform market in the near future. AI has recognized to be extensively worth for high-volume data management, and outliers forecast and risk more effortlessly and even with a less skilled workforce. While having a database of volunteer program opportunities by which employees can search for programs based on their interests, it's even more convincing to have personalized recommendations on how to assist on the basis of their volunteering interests. In 2018, Salesforce.org launched Philanthropy Cloud, which applies predictive analytics and machine learning technologies to giving and volunteering. People regularly become involved with a cause as someone suggests a volunteer program specific to their interests. Personal recommendations matter, but with recommendations driven by machine learning can scale to millions. At Salesforce, 84% of its employees volunteered in CSR activities at least once in 2017; whereas, in the year since the company launched personalized recommendations, 78% of those employees have volunteered more than once. Thus, companies anticipate an era where AI can power personalized recommendations for connecting people and cause them to make more of a positive impact. In the coming years, as the end users' expectation regarding analytics and forecasting capabilities increases, the collaborations of existing corporate volunteering solutions with advanced analytical technologies will surge, which is expected to drive noteworthy growth of the corporate volunteering platform market.

Deployment Type-Based Insights

Based on deployment type, the corporate volunteering platform market is segmented into A cloud and on-premise. The cloud segment held the largest market share in 2019.

Strategic Insights

Players operating in the corporate volunteering platform market are mainly focused on the development of advanced and efficient products.

• In 2020, Benevity, Inc. was selected by 56 new companies in the first half of 2020 for powering their CSR activities. Some of the notable companies includes Toyota, Nordstrom, Jacobs, COFRA Holding, Agoda and many others.
• In 2020, Blackbaud, Inc. partnered with Chief Executives for Corporate Purpose (CECP). The partnership will enable Blackbaud, Inc. customers, and CECP affiliated companies to enhance their corporate social responsibility measurement data through streamlined reporting and data sharing.

The corporate volunteering platform market has been segmented as follows:

Corporate Volunteering Platform Market– by Deployment Type

• On-Premise
• Cloud

Corporate Volunteering Platform Market– by Organization Size

• SMEs
• Large Enterprises

Corporate Volunteering Platform Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Russia
  • U.K
  • Rest of Europe
• Asia Pacific (APAC)
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of APAC
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Corporate Volunteering Platform Market – Company Profiles

• Alaya SA
• Benevity, Inc.
• Bright Funds, Inc.
• Maximus Life LLC
• Neighbourly Limited
• Oracle Corporation
• Blackbaud, Inc.
• Goodera
• Galaxy Digital
• Samaritan Technologies