Global NGOs and Charitable Organizations Market Set to Expand, Projected to Reach $369.21 Billion by 2027

The Business Research Company's NGOs And Charitable Organizations Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 29, 2023 /EINPresswire.com/ -- The global ngos and charitable organizations marketis on a trajectory of growth, with its size anticipated to rise from $288.97 billion in 2022 to $305.22 billion in 2023, exhibiting a robust Compound Annual Growth Rate (CAGR) of 5.6%. Despite the disruptions caused by the Russia-Ukraine war, which hindered global economic recovery from the COVID-19 pandemic, the market is expected to continue its upward trend, reaching $369.21 billion by 2027, with a CAGR of 4.9%.

Corporate Social Responsibility Propels Market Growth
A significant driver for the growth of the ngos and charitable organizations marketis the increasing emphasis on Corporate Social Responsibility (CSR) by companies. CSR involves integrating social and environmental concerns into business operations and interactions with stakeholders. Companies are prioritizing CSR as part of their vision to support social causes, aligning with the preferences of millennials who seek association with brands committed to social causes. This has led to a rise in CSR expenditure, as evidenced by data from the Indian government's CSR dashboard, showing a 24% increase in CSR commitments, reaching INR 248,640 million ($3,014.36 million) in 2019-2020 compared to the previous year. Moreover, approximately 90% of companies on the S&P 500 index published CSR reports in 2019, indicating a widespread commitment to social responsibility. The increasing focus on CSR is expected to positively impact the ngos and charitable organizations market, driving growth in the forecast period.

Technological Investments: CRM Software Integration
ngos and charitable organizations marketare increasingly adopting Customer Relationship Management (CRM) software to enhance operational efficiency. CRM software allows organizations to track donations and manage donor contact information seamlessly. With functionalities like email, phone, activity tracking, customer communication, and more integrated into a single system, CRM software streamlines data management and ensures secure storage of donor contact information through cloud and encryption technology. According to the Global ngos and charitable organizations marketTechnology Report, 45% of surveyed NGOs use CRM software for donation tracking and donor communication. Leading charitable foundations, such as the Bill & Melinda Gates Foundation, leverage tools like SpringCM for document management and Salesforce for customer relationship management.

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Major Players and Market Dynamics
Key companies in the ngos and charitable organizations market include Unicef, Feeding America, American Red Cross, Open Society Foundations, William and Flora Hewlett Foundation, Wellcome Trust, Ford Foundation, and World Fund for Nature. The sector's resilience and adaptability to technological advancements contribute to its sustained growth.

Geographical Insights: Asia-Pacific Dominates
In 2022, Asia-Pacific emerged as the largest region in the NGOs and charitable organizations market, with North America securing the second-largest market share. The report offers detailed insights into regional dynamics, market trends, and growth opportunities.

The ngos and charitable organizations market is segmented -
1) By Type: Trust And Foundations, Voluntary Health Organizations, Human Rights Organizations, Environment, Conservation And Wildlife Organizations, Other NGOs And Charitable Organizations
2) By Mode of Donation: Online, Offline
3) By Organisation Location: Domestic, International

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NGOs And Charitable Organizations Global Market Report 2023from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

TheNGOs And Charitable Organizations Global Market Report 2023byThe Business Research Company is the most comprehensive report that provides insights on ngos and charitable organizations market size, ngos and charitable organizations market drivers and ngos and charitable organizations market trends, ngos and charitable organizations market major players, competitors' revenues, market positioning, and market growth across geographies.The ngos and charitable organizations market report helps you gain in-depth insights onngos and charitable organizations market ngos and charitable organizations market opportunities and ngos and charitable organizations market strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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