$4550
$3640
The corporate volunteering platform market expected to grow from US$ 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.
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Corporate Volunteering Platform Market: Strategic Insights
Market Size Value in US$ 731.7 Million in 2020 Market Size Value by US$ 1359.7 Million by 2027 Growth rate CAGR of 9.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Corporate Volunteering Platform Market: Strategic Insights
| Market Size Value in | US$ 731.7 Million in 2020 |
| Market Size Value by | US$ 1359.7 Million by 2027 |
| Growth rate | CAGR of 9.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment Type and Enterprise Size
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The rising focus on adopting advanced technologies to make corporate volunteering easier and more effective and increasing number of successful corporate-NGO partnerships are some of the key driving factors for global corporate volunteering platform market. The implementation of virtual volunteering platform for employee engagement and implementation of emerging technologies with corporate volunteering platform are among other factors anticipated to drive the future growth of 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 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.
The corporate volunteering platformmarket is led by cloud segment with highest share and is expected to dominate in the forecast period. The cloud segment generates the majority of the demand since it is comparatively less expensive and due to strong network infrastructure in developed countries. In addition, the cloud-basedcorporate volunteering platformvendors are highly focused on developing a high-level security patch in order to eliminate the risk of cyber-attack.
The List of Companies - Corporate Volunteering Platform Market
- Alaya SA
- Benevity, Inc.
- Bright Funds Inc.
- Maximus Life LLC
- Neighbourly Limited
- Oracle Corporation
- Blackbaud, Inc.
- Goodera
- Galaxy Digital
- Samaritan Technologies
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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