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According to The Business Research Company’s NGOs and charitable organizations market report, the top opportunities in the NGOs market segmented by mode of donation will arise in the online segment, which will gain about $38.93 billion of global annual sales by 2023. This makes sense because while the economic implications of COVID-19 are expected to force NGOs to suspend some charity activities, thereby limiting the growth of the market in the forecast period, the internet enables NGOs and charitable organizations to access necessary data, increase efficiency, increase the reach of NGOs, and receive grants through online mode. Growth in the number of internet users positively impacts the market for NGOs and other charitable organizations.
The global NGOs and charitable organizations market size reached a value of nearly $255.70 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.4% since 2015. The market is expected to decline from $255.70 billion in 2019 to $253.34 billion in 2020 at a rate of -0.9%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5.3% from 2021 and reach $294.31 billion in 2023. The market is expected to reach $325.65 billion in 2025, and 411.19 billion in 2030.
The Business Research Company’s report titled NGOs And Charitable Organizations Global Market Report 2020-30: COVID-19 Impact and Recovery covers major NGOs and charitable organizations companies, NGOs and charitable organizations market share by company, NGOs and charitable organizations manufacturers, NGOs and charitable organizations infrastructure market size, and NGOs and charitable organizations market forecasts. The report also covers the global NGOs and non-profit organizations market and its segments.
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As the online segment grows, crowdfunding is rapidly becoming one of the most popular modes for NGOs and charitable organizations to raise donations. It is a process of raising capital through a large number of independent investors primarily via crowdfunding platforms and social networking websites. Crowdfunding includes funds raised through donation websites, online charity auctions, and giving by text. The global crowdfunding industry was worth $34 billion in 2017 and is expected to grow up to $300 billion by 2025. Mobile technology is increasingly being used to donate to charities as it offers convenience to donors. Mobile technology enables civic services establishments such as charitable organizations to better connect with their supporters and raise money quickly and conveniently. Charitable organizations often encourage their supporters to make donations using mobile applications. For instance, micro-donation apps such as Instead and One Today allow users to contribute small donations amounts up to $1 per day to charitable organizations of their choice. According to the Charitable Giving Report by the Blackbaud Institute for Philanthropic Impact, online donations accounted for 7.6% of total fundraising revenue in 2017 and 21% of these online donations were made from a mobile device.
In order to track donations and manage donor contact information, NGOs and charitable organizations are increasingly investing in customer relationship management (CRM) software. CRM software offers multiple functionalities such as email, phone, activity tracking, customer communication and others in a single system without having to use multiple software tools. CRM software also provides efficient data management and secure storage of donor contact information using cloud and encryption technology.
Such order and security allow NGOs to continue working hard to provide essential and critical services to vulnerable groups of people. NGOs are experienced in handling socio-economic issues related to the environment, education, health, poverty, women empowerment, child protection, social justice, and human and animal rights, and thus work to their best ability to be supported for the same.
NGOs And Charitable Organizations Global Market Report 2020-30: COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments, and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Human Rights Organizations Global Market Report 2020-30: COVID-19 Growth And Change
Civic Services Global Market Report 2020-30: COVID-19 Impact and Recovery
Trust And Foundations Global Market Report 2020-30: COVID-19 Growth And Change
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