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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.
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.
Strategic Insights
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.
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