Yahoo Finance Civic Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030
Major companies in the civic services market include Southern Baptist Churches; World Food Programme; UNICEF; The Salvation Army and Feeding America. The global civic services market is expected to grow from $928.
New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Civic Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009751/?utm_source=GNW
39 billion in 2020 to $964.96 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1211.46 billion in 2025 at a CAGR of 6%.
The civic services market consists of the sales of civic services and related goods by entities (organizations, sole traders and partnerships) that organize and promote religious activities; support various causes through grantmaking; advocate various social and political causes; and promote and defend the interests of their members. A service can be defined as a transaction between a buyer and a seller without the transfer of any physical goods or commodities. Examples of civic service organizations include community associations or organizations, ethnic associations, fraternal associations or lodges, girl guiding organizations, history societies, parent-teacher associations, retirement associations, scouting organizations, and students’ associations. The civic services market is segmented into religious organizations; NGOs and charitable organizations; and political organizations, unions and associations.
Asia Pacific was the largest region in the global civic services market, accounting for 36% of the market in 2020. North America was the second largest region accounting for 32% of the global civic services market. Africa was the smallest region in the global civic services market.
NGOs and charitable organizations are increasingly investing in customer relationship management (CRM) software to track donations and manage donor contact information. 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. According to the 2018 Global NGO Technology Report, 45% of the surveyed NGOs use CRM software to track donations and manage donor communications. For instance, the Bill & Melinda Gates Foundation, a charitable foundation uses SpringCM for document management and Salesforce for customer relationship management.
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