Publication Month: Sep 2020 | Report Code: TIPRE00014332 | No. of Pages: 144 | Category: Technology, Media and Telecommunications | Status: Published
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.
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.
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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.
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.
|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|
|No. of Pages||144|
|No. of Tables||56|
|No. of Charts & Figures||68|
|Historical data available||Yes|
|Segments covered||Deployment Type and Enterprise Size|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Players operating in the corporate volunteering platform market are mainly focused on the development of advanced and efficient products.
The List of Companies - Corporate Volunteering Platform Market