Corporate Volunteering Platform Market Forecast (2024-2031)
The corporate volunteering platform market size is projected to reach US$ 2083.47 million by 2031 from US$ 997.44 million in 2023. The market is expected to register a CAGR of 9.6% in 2023–2031. The rise in digitalization and benefits offered by the corporate volunteering platform are likely to remain key corporate volunteering platform market trends.
Corporate Volunteering Platform Market Analysis
The global corporate volunteering platform market is experiencing growth owing to factors such as the rise in digitalization and the increasing adoption of platforms and solutions to help companies facilitate and manage their volunteer programs. Through volunteering programs, employees can contribute positively to society by participating in volunteer activities that connect businesses and non-profit organizations. With the rise of corporate social responsibility, volunteer programs are gaining traction worldwide, which is leading to the adoption of corporate volunteering platforms for efficient volunteer management.
Corporate Volunteering Platform Market Overview
A corporate volunteering platform supports businesses in their charitable activities to motivate staff members to support local causes. Corporate volunteering platforms provide organizations with tools for organizing, managing, and administering volunteer initiatives. Companies can use volunteer management solutions to increase employee participation in mission-driven charities, programs, and events. Corporate volunteering solutions include internal dashboards for tracking progress, public-facing dashboards for communicating company impact, employee engagement and rewards management tools, and more.
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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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Speak to AnalystCorporate Volunteering Platform Market Drivers and Opportunities
Rising digitalization by the Market Players to Favor Market
There is a rise in the adoption of digital technologies as they help businesses fuel the overall efficiency of their business operations, minimize operational costs, and reduce human errors. It helps businesses to increase productivity and higher ROI. In addition, government authorities are also focused on bringing digitalization. The US’s Digital Government Strategy, Digital India, and Germany’s Digital Strategy 2025 are some of the government initiatives that foster the adoption of digitalization by several market players across several industries to improve operational efficiencies. Thus, the rise in digitalization leads to the adoption of software and solutions to efficiently manage volunteering programs in the corporate sector.
Shift towards AI – An Opportunity in the Corporate Volunteering Platform Market
The adoption of AI technology helps businesses to minimize the time taken to perform tasks. Its predictive analytics features enable businesses to make efficient decision that helps them to foster their business growth. Therefore, there is a growing adoption of AI by businesses due to its benefits. For instance, according to Our World in Data, the yearly global corporate investment in artificial intelligence was US$ 153.63 billion in 2020, which increased to US$ 175.54 billion in 2022. AI in the corporate volunteering platform can help to greater efficiency, personalization, and impact. AI, with its predictive analytics capabilities, can analyze a volunteer's skills, preferences, and availability to automatically recommend the best volunteer opportunities. This not only saves time but also ensures that volunteers are placed in roles where they can have the greatest impact. AI-powered chatbots and virtual assistants can substantially reduce the administrative burden for corporate volunteer teams. These AI tools can automate many mundane tasks, such as answering frequently asked questions (FAQs) and assisting with scheduling or tracking hours, allowing teams to focus on strategic planning and relationship building.
Corporate Volunteering Platform Market Report Segmentation Analysis
Key segments that contributed to the derivation of the corporate volunteering platform market analysis are deployment type and enterprise size.
- Based on deployment type, the market is segmented into cloud and on-premise. The cloud segment held a larger market share in 2023.
- By enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment held the largest share of the market in 2023.
Corporate Volunteering Platform Market Share Analysis by Geography
The geographic scope of the corporate volunteering platform market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest corporate volunteering platform market share in 2023. Asia Pacific region is expected to grow with the highest CAGR during the forecast period. The North American region is an early adopter of technologically advanced software and solutions, which is considered one of the driving factors for the corporate volunteering platform market. The region homes majority of the corporate volunteering platform players, which fuels the region’s share in the market.
Corporate Volunteering Platform Market Report Scope
Corporate Volunteering Platform Market News and Recent Developments
The Corporate Volunteering Platform Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In March 2024, the first Global Volunteering Summit '24 on March 27th and 28th marked the launch of groundbreaking initiatives to revolutionize corporate-led volunteering and employee engagement. Organized by Goodera, the leading volunteering management platform and co-created by a community of social impact practitioners, the summit brought together leading minds in corporate leadership. The Global Volunteering Summit served as a platform for social impact executives from over 100 renowned organizations to connect with peers, deepen their understanding of volunteering's impact, and explore the vital role of technology in social innovation through volunteering. (Source: Goodera, Press Release, 2024)
Corporate Volunteering Platform Market Report Coverage and Deliverables
The “Corporate Volunteering Platform Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
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 incremental growth expected to be recorded for the global corporate volunteering platform market during the forecast period is US$ 1086.03 million.
The global corporate volunteering platform market is expected to reach US$ 2083.47 million by 2031.
The key players holding majority shares in the global corporate volunteering platform market are Alaya SA; Benevity, Inc.; Bright Funds, Inc.; Maximus Life LLC; and Goodera.
Rising CSR activities are anticipated to play a significant role in the global corporate volunteering platform market in the coming years.
The rise in digitalization and benefits offered by the corporate volunteering platform are the major factors that propel the global corporate volunteering platform market.
The global corporate volunteering platform market was estimated to be US$ 997.44 million in 2023 and is expected to grow at a CAGR of 9.6% during the forecast period 2023 - 2031.
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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