Global Corporate Social Responsibility (CSR) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Corporate Social Responsibility (CSR) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Corporate social responsibility (CSR) is a term used to describe a company’s efforts to improve society in some way. These efforts can range from donating money to nonprofits to implementing environmentally friendly policies in the workplace. Corporate Social Responsibility (CSR) Software is an application often used by organizations to help them manage their corporate social responsibility activities. Moreover, it allows them to track and evaluate the same activities. The purpose of corporate social responsibility is to give back to the community, take part in philanthropic causes, and provide positive social value. Businesses are increasingly turning to CSR to make a difference and build a positive brand around their company.

In addition, corporate social responsibility (CSR) software includes products that track the impact of CSR programs. Organizations use corporate social responsibility software to accurately measure the effectiveness of their CSR initiatives. The software manages, administers, and tracks CSR programs that might include environmentally responsible operations, grants and sponsorships, sustainability management, community giving, and corporate volunteer management. These solutions help companies share their CSR program accomplishments with customers, employees, and investors. Additionally, corporate social responsibility software helps businesses continually improve their policies and practices to support their CSR values. Corporate social responsibility (CSR) software comprises products that record the influence of CSR programs.

Market Overview:

The latest research study on the global Corporate Social Responsibility (CSR) Software market finds that the global Corporate Social Responsibility (CSR) Software market reached a value of USD 318.96 million in 2022. It’s expected that the market will achieve USD 488.38 million by 2028, exhibiting a CAGR of 7.36% during the forecast period.

The year 2020 has just begun. All of a sudden, all the discussion about CSR as a corporate strategy became the focus. It can be said that the global crisis of COVID 19 is a wake-up call for companies to re-examine their role in society. The corporate response to the global crisis has shown creativity and sensitivity in protecting the interests of stakeholders. This is the core of corporate social responsibility.

Unlike the previous emphasis on environmental sustainability, social sustainability is now the main focus. Therefore, it has a little negative impact on the CSR software industry. It can even be said that the COVID-19 crisis brings a possibility of long-term sustainable development to the CSR software industry.
For the CSR software industry, although the impact of the epidemic is not as big as the tourism industry, film industry, fast-moving consumer goods store and other industries, the CSR software industry will also be affected by the overall environment and economic downturn, especially the downstream industry of CSR software. The industry is greatly affected by the epidemic, which in turn has affected the sales and consumption of CSR software.
Meanwhile, the impact of COVID-19 on the Optical Character Recognition CSR software industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises. Although various industries around the world are gradually resuming work, production and demand will not pick up rapidly and substantially, and will require a certain recovery period.

Strength

Corporate social responsibility (CSR) software enables companies to manage and track the progress of corporate social responsibility programs that they are conducting. Corporate social responsibility (CSR) software streamlines the administration of CSR programs, and allow businesses to manage CSR programs from one central platform. Companies who want to make an impact in their community may give grants, donations, sponsorships, volunteer time, and more. Several aspects are enhancing the awareness of CSR in a corporate setting. At a global level, some non-profit organizations, multi-stakeholder firms, along with the inter-governmental organizations are making initiatives to implement CSR as a fundamental part of their business operations. Enterprises are implementing CSR as a part of their strategy matters to enhance the interest and demands of various stakeholders and to improve the competition to access the global market and fulfilling the needs of society.

Weakness

Corporate Social Responsibility is a relatively new business discipline. On top of that, standards for CSR software are still taking shape. The immature system and the lack of a standardized standard system discourage some consumers, which is not conducive to the development of the industry.
CSR software has the risk of data theft, which is not conducive to the development of the industry. The security and privacy of critical enterprise data constitute a major issue while executing digital enablement technologies. As IoT becomes more widespread, organizations will increasingly require more robust security and privacy to prevent breaches. The issue of security endangers the success of digitization. With the growing number of IoT-enabled systems, the number of security and privacy issues will also increase, and every endpoint, gateway, sensor, and smartphone will become a potential target for hackers. Furthermore, organizational data can be easily accessed on-the-go with the help of BYOD devices, such as smartphones, tablets, phablets, and laptops. The middleware application makes these devices portable, thereby making them vulnerable to loss of physical control and network security breaches. Using portable devices can increase the risk of data loss and exposure of data and devices through network-based attacks to-and-from any system the device is connected to. The hacker who successfully accesses a CSR vendor database gets all of the data, not just the data housed for one customer. These issues impede the demand for people to use CSR software, which are not conducive to the sustainable development of the industry.

Region Overview:

North America dominated the Corporate Social Responsibility (CSR) Software market in 2022, with a market share of 38.57%.

Company Overview:

Benevity is one of the major players operating in the Corporate Social Responsibility (CSR) Software market, holding a share of 19.82% in 2023.

Benevity

Benevity Inc. operates as a software social enterprise that develops workplace giving and volunteer management software solutions. The Company offers a workplace giving platform that includes custom cause portfolios and disaster response, dynamic news and blog content, matching incentives, centralized donation management, and consumer engagement solutions.

IPoint-systems

iPoint-systems GmbH operates as a software development company. The Company offers software and consulting for environmental and social product compliance. By digitalizing the lifecycles of products and supply chain relationships iPoint-systems’ software solutions support enterprises to manage compliance, risk, and sustainability.

Segmentation Overview:

As for product types, the Cloud Based segment held the largest market share in 2022.

Application Overview:

In the Corporate Social Responsibility (CSR) Software market, 66.94% of the total value was generated through the Large Enterprises segment by application in 2022.

Key Companies in the global Corporate Social Responsibility (CSR) Software market covered in Chapter 3:

Tennaxia
Enablon
Cyber
Alaya
CSRware
Goodera
DonationXchange
Alcumus Group
IPoint-systems
Benevity
KindLink
GivePulse
YourCause

In Chapter 4 and Chapter 14.2, on the basis of types, the Corporate Social Responsibility (CSR) Software market from 2018 to 2029 is primarily split into:

Cloud Based
On-Premise

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Corporate Social Responsibility (CSR) Software market from 2018 to 2029 covers:

Large Enterprises
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)