Corporate Volunteering Platform Market Size worth $1359.7 Mn by 2027 - Exclusive Research by The Insight Partners

Corporate Volunteering Platform Market is propelled by Increasing Number of Successful Corporate-NGO Partnerships by 2027

NEW YORK, UNITED STATES, November 25, 2021 / -- The Insight Partners’ says that the Global 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.

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
No. of Pages - 144
No. 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; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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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, 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.

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.

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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 devices. Through virtual volunteering, employees can support organizations online that they are already supporting onsite. Other employees who are unable to help onsite at a nonprofit organization or school have the option of volunteering online owing to the convenience. 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 the participant’s information with their communities and companies, building a support network.

In the past few years, several companies have designed and developed asset tracking.The corporate volunteering platform market is at a nascent stage, and the software has gained popularity in recent times, as the demand for the same is stimulating among the emerging SMEs across the globe. The software as a service (SaaS) modules have facilitated numerous businesses to flourish over the years and they are still continuing to mature businesses globally. In recent years, a number of corporate volunteering platform developers are evolving in order to help the new SMEs to strategize their corporate social responsibility (CSR) activities in a cost-effective and efficient manner. Increasing number of SMEs across the globe 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 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.

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