The global corporate social responsibility software market size is expected to reach USD 1.72 billion by 2030, expanding at 9.8% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing demand to build a better brand reputation across enterprises and rising demand among organizations to enhance their business practices and policies are expected to drive the demand for CSR software and services.
Corporate Social Responsibility Software Market Report Highlights
· Based on deployment, the cloud segment accounted for the highest revenue share of 74.5% in 2022 and is expected to retain its position over the forecast period. Surged use of corporate social responsibility software owing to the rising investment in cloud IT infrastructure across industries creates lucrative growth for the CSR software industry. The on-premise segment is likely to register the highest CAGR of 11.2% over the forecast period
· In terms of application, the large enterprise segment held the largest market share of 72.1% in 2022. The segment growth is mainly driven by the huge investment and advancements of the technology as large enterprises are leveraging cloud platforms to boost environmentally responsible operations, corporate volunteer management, community giving, and sustainability management. The small and medium-sized enterprises (SMEs) segment is likely to register the highest CAGR of 10.9% over the forecast period
· North America held the largest share of 34.4% in 2022 and is expected to grow at a CAGR of 9.4% over the forecast period. The presence of developed technology organizations such as Goodera, Benevity, Inc., NAVEX, Inc., CyberSWIFT Infotech Pvt. Ltd., and several other, technology experts, also is aiding the market growth. Asia Pacific is anticipated to grow at the highest CAGR of over 11.2% over the forecast period
· In July 2022, Goodera, a provider of volunteering platforms announced its collaboration with Raised By Us, Inc., a nonprofit workplace social program provider for high-growth and emerging companies. This strategic partnership aims to provide companies with corporate giving and volunteering programs. With this partnership Raised By Us, Inc. would support Goodera’s clients in consulting services for corporate giving and CSR, while Goodera would provide Raised By Us’s clients scalability while planning their volunteering programs
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The COVID-19 pandemic had a positive impact on the corporate social responsibility software industry. Numerous organizations adopted online platforms to operate their businesses as a response to work from the home situation during the pandemic. Several industry players such as Benevity, Inc., Goodera, Tennaxia, Vee Technologies, CyberSWIFT Infotech Pvt. Ltd., and Salesforce, Inc. launched various products related to CSR during this period. For instance, in March 2020, Wolters Kluwer N.V.’s Enablon launched EHS and risk solutions to support the community in managing COVID-19. The solution offers templates and configuration packages, based on guidelines published by The World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC).
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Segmented the global corporate social responsibility software market based on deployment, application, and region:
Corporate Social Responsibility (CSR) Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)
· On-premise
· Cloud
Corporate Social Responsibility (CSR) Software Application Outlook (Revenue, USD Million, 2017 - 2030)
· Large Enterprises
· Small and Medium-Sized Enterprises (SMEs)
Corporate Social Responsibility (CSR) Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
· Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
· Latin America
o Brazil
o Mexico
o Chile
o Argentina
· Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
List of Key Players in the Corporate Social Responsibility Software Market
· Benevity, Inc.
· Goodera
· Wolters Kluwer N.V.
· iPoint-systems gmbh
· YOURCAUSE FROM BLACKBAUD
· Tennaxia
· Vee Technologies
· NAVEX, Inc.
· Salesforce, Inc.
· CyberSWIFT Infotech Pvt. Ltd.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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While earning revenue is obviously vital, many businesses have now shifted their primary focus to corporate social responsibility.Corporate Social Responsibility has now become a fundamental business practice.
The organizations committed to corporate social responsibility (CSR) have enriched reputation overall as it makes a bold statement about what their brand stands for in this often cynical business world.In this blog, we are going to discuss in detail about CSR and its importance for your business.What Is Corporate Social Responsibility (CSR)?Corporate Social Responsibility is a management concept where a business operates morally and sustainably and deals with its social as well as environmental impacts.
These companies also have better employee engagement and remarkable customer service.
Likewise, some companies have been compelled to adopt CSR, and they did so with inadequate enthusiasm, leaving many of them to contemplate things they could and should have accomplished differently.Concluding, businesses must realize the importance of CSR for their business, so let’s dive into its details.Importance Of Corporate Social Responsibility For BusinessIt is extremely important for your business to operate in a manner that illustrates social responsibility.
Even though it isn’t a legal requirement, it is considered a good business practice to bear in mind social and environmental issues.The time has changed, social responsibilities and moral practices are crucial for your business’ success.
In today’s world, given the circumstances, consumers love dealing with companies that address social and environmental issues.
Businesses that have a social purpose stand out in today's world.
Apart from earning profits for the company, other factors contribute equally towards making a business successful.Having a social purpose is not just limited.
