The corporate volunteering platform market is propelled by the increase in the number of successful partnerships between businesses and NGOs by 2027
NEW YORK, UNITED STATES, November 25, 2021 /EINPresswire.com/ – According to Insight Partners, the Global Corporate volunteering platform market is expected to increase from US $ 731.7 million in 2020 to US $ 1,359.7 million by 2027; it is estimated to increase at a CAGR of 9.3% from 2020 to 2027.
Market Size Value in – US $ 731.7 Million in 2020
Market size value of – US $ 1,359.7 million by 2027
Growth rate – CAGR of 9.3% from 2020-2027
Forecast period – 2020-2027
Baseline year – 2020
Number of Pages – 144
Number of tables – 56
Number of graphs and figures – 68
Historical data available – Yes
Segments Covered – Type of Deployment and Company Size
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Cover – Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors & Trends
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Implementation of emerging technologies with the corporate volunteering platform
Artificial intelligence (AI) plays an essential role in all types of organizations. The ability of AI to provide rapid mathematical calculations to increase vital human intelligence capabilities is expected to generate the greatest growth opportunity for the corporate volunteering platform market in the near future. AI has recognized its value in handling large volumes of data, and outliers predict and risk more easily and even with a less skilled workforce. While having a database of volunteer program opportunities where employees can search for programs based on their interests, it is even more compelling to have personalized recommendations on how to help based. 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 get involved in a cause when someone suggests a volunteer program specific to their interests. Personal recommendations are important, but with recommendations based on machine learning, they can run into the millions. At Salesforce, 84% of its employees volunteered in CSR activities at least once in 2017; while, in the year since the company launched personalized recommendations, 78% of those employees have volunteered more than once. So, companies anticipate an era where AI can generate personalized recommendations to connect people and lead them to have a more positive impact. In the coming years, as end-user expectations for analytical and forecasting capabilities increase, collaborations of existing enterprise volunteering solutions with advanced analytical technologies will increase, which is expected to result in significant growth in the market. corporate volunteering platform market.
Impact of the COVID-19 pandemic on the corporate volunteering platform market
The huge increase in the number of confirmed cases and the increase in reported deaths globally has affected software vendors to some extent due to declining demand for their products. Business closures as well as social distancing imposed by the respective government agencies are impacting the uptake of the corporate volunteering platform market. The demand for digital solutions, in particular, has grown at a high rate in recent months. A significant number of companies have taken significant initiatives to volunteer in the affected areas. As a result, the adoption rate of the volunteer platform is expected to increase in the coming years to handle all operations.
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Virtual volunteering is another platform savvy businesses use to expand their philanthropic offerings and CSR efforts. Virtual volunteering allows volunteers to offer services through smartphones, computers, tablets or other connected devices. Through virtual volunteering, employees can support organizations online that they already support locally. Other employees who cannot help locally at a nonprofit or school have the option of volunteering online because of the convenience. The virtual volunteering platform can connect volunteers of many skills, backgrounds and cultures that may not be accessible locally, thereby optimizing an organization’s resources. This type of volunteering provides additional support by sharing participants’ information with their communities and businesses, thus creating a network of support.
Over the past few years, several companies have designed and developed asset tracking. The market for corporate volunteering platforms is in its infancy and the software has gained popularity in recent times as the demand for the same is stimulating among emerging SMEs across the globe. Software as a service (SaaS) modules have enabled many businesses to thrive over the years and they continue to mature businesses globally. In recent years, a number of corporate volunteering platform developers have evolved to help new SMEs strategize for their corporate social responsibility (CSR) activities in a cost-effective and efficient manner. The growing number of SMEs across the world is positively influencing the growth of the corporate volunteering platform market.
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• In 2020, Benevity, Inc. was selected by 56 new companies in the first half of 2020 to fuel their CSR activities. Some of the notable companies include Toyota, Nordstrom, Jacobs, COFRA Holding, Agoda, and many more.
• In 2020, Blackbaud, Inc. partnered with CEOs for Business Purpose (CECP). The partnership will enable Blackbaud, Inc. customers and CECP affiliates to improve their corporate social responsibility measurement data through streamlined reporting and data sharing.
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