Global Civic And Social Organizations Market Set For 3.8% Growth, Reaching $75.43 Billion By 2028
Civic And Social Organizations Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has The Civic And Social Organizations Market Been Performing, And What Are Its Future Prospects?
The civic and social organizations market size has been witnessing consistent growth. According to the Civic And Social Organizations Global Market Report 2024, the market size is projected to increase from $62.56 billion in 2023 to $65 billion in 2024, denoting a compound annual growth rate CAGR of 3.9%. The rise during the historic period can be linked to crucial players such as international aid organizations, community development programs, the formation of advocacy groups, civil rights movements, and the emergence of nonprofits.
Is The Civic And Social Organizations Market Expected To Flourish In The Coming Years?
The civic and social organizations market is set to experience steady growth in the approaching years. Predictions highlight a climb to $75.43 billion by 2028, exhibiting a compound annual growth rate CAGR of 3.8%. Factors boosting growth in the forecast period are enhanced communication strategies, diversification of funding sources, a stronger focus on environmental sustainability, addressing demographic changes, and innovative engagement of volunteers. Moreover, driving the expansion are key developments, such as digital transformation, diversity, equity, and inclusion DEI initiatives, community-centric solutions, advocacy for social justice, and intensive volunteer mobilization.
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What Drives The Growth Of The Civic And Social Organizations Market?
Increasing contributions from corporates serve as a major driver for the civic and social organizations market. Big corporations sponsor these organizations, providing them with substantial funding needed to promote and meet societal needs. These contributions include philanthropic donations, event sponsorship, cause marketing, pro bono work, matching gifts, paid release, in-kind gifts, and checkout campaigns. For instance, The Ithaca, a New York-based online fundraising tool for nonprofits, assisted over 40,000 organizations in raising over $2 billion in April 2021. Additionally, in June 2020, BMO Financial Groups, a financial service provider, pledged a $1 million donation to various organizations in North America that support social and racial justice and inclusion. This increase in donations from corporates significantly enhances the growth of the civic and social organizations market. Secure your glance into this horizon with a full market report: Report Linkhttps://www.thebusinessresearchcompany.com/report/civic-and-social-organizations-global-market-report
Who Are The Significant Players In The Civic And Social Organizations Market?
Major companies operating in the civic and social organizations market include Rotary International Club, Boys and Girls Clubs of America, American Association of State Colleges and Universities, National Low Income Housing Coalition, Lions Clubs International, National Council on Aging, National Urban League, Civic Nation, National Immigration Law Center, National Association for the Advancement of Colored People, among others.
What Are The Emerging Trends In The Civic And Social Organizations Market?
Leading companies are developing innovative technologies like the Inclusive Digital Advocacy Toolkit to boost their market profitability. The toolkit aids civil society organizations CSOs and organizations for people with disabilities OPDs, along with various advocates, in leveraging social media and technology for advocacy operations.
How Is The Civic And Social Organizations Market Segmented?
The civic and social organizations market, as covered in the report, is segmented:
1 By Products and Services: Membership Services, Prepared Meals And Beverages, Gaming Services, Rental Of Nonresidential Space, Private Gifts, Grants And Donations, Government Grants And Support, Other Products and Services
2 By Type: Academia, Activist Groups, Charities, Clubs, Community Foundations, Community Organizations, Consumer Organizations, Cooperatives, Other Types
3 By Mode of Donation: Online, Offline
4 By Organisation Location: Domestic, International
Expanding the Horizon: Regional Insights Into The Civic And Social Organizations Market
In 2023, Asia-Pacific emerged as the largest region in the civic and social organizations market, followed closely by North America. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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