The community engagement platform market size is projected to be valued at US$ 608.4 million in 2023 and is expected to rise to US$ 2,761.9 million by 2033. The sales of the community engagement platforms are predicted to expand at a significant CAGR of 16.3% during the forecast period.
Community engagement platforms empower consumers to voice their concerns and participate in addressing public policy issues. These platforms play a crucial role in safeguarding public values and facilitating positive change within the community. By actively engaging in civic issues through these platforms, people can make their voices heard and collaborate effectively towards building a better society.
Community engagement platforms include both political and non-political ways to promote the improvement of a community. These platforms aim to create a centralized space for users to connect, share ideas and information, provide feedback, and participate in group activities. This helps to increase user engagement and improve organizational relationships with their target audience.
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Community engagement platforms boast several key characteristics that set them apart and drive market growth. These distinguishing features include:
- Discussion boards or forums that facilitate the posting and exchange of ideas.
- Social networking elements like activity feeds and the ability to follow and unfollow other users.
- Survey and polling tools to gather valuable feedback from the community.
- Implementation of gamification techniques, such as awarding badges to incentivize and reward active members.
Community engagement platforms allow for the collection of valuable feedback, comprehension of community guidelines, and in-depth investigations of various themes. These activities yield critical insights that inform inclusive, data-driven decision-making, accelerating future advancements and improvements.
The rapid influx of millennials signing up on social media platforms for customer engagement is expected to drive the market for customer engagement platforms. These platforms aim to deliver a comprehensive and integrated experience to consumers, effectively streamlining their interactions and enhancing the efficiency of the community. As a result, businesses and organizations can build stronger relationships with their audience and drive positive outcomes for both customers and the community.
Key Takeaways from the Community Engagement Platform Market Report:
- In 2022, North America emerged as the dominant region globally, with a significant share of 25.2%. This growth is credited to the increased adoption of digital media and the growing demand to promote consumer interaction.
- The Asia Pacific region is projected to maintain its position as a leading provider of community engagement platforms. Notably, India is expected to experience robust growth at a CAGR of 22.3% during the forecast period.
- In Europe, market players are prioritizing the adoption of innovative advanced technologies and offering a diverse range of solutions. As of 2022, Europe held a significant share of 21.3% in the global community engagement platform market.
Competitive Landscape:
With a highly competitive market, the players in the community engagement platform industry offer a diverse range of platforms and solutions. The market is fragmented, with both established and emerging players. Some of the top players in the community engagement platform market are
- Vanilla Forums
- Hivebrite
- Higher Logic
- Discourse
- Mobilize
- Breezio
- Bang the Table
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Recent Developments:
April 2023: Discourse introduced its latest plugin, Discourse AI, which serves as a comprehensive solution for seamlessly integrating artificial intelligence with the Discourse platform.
June 2023: Six new companies, primarily from the AI sector, were added to the Crunchbase Unicorn Board. Impressively, the first half of 2023 saw a total of 44 unicorns joining the board.
Community Engagement Platform Market Segmentation:
By Component:
- Community Engagement Platform
- Services
- Professional Services
- Consulting
- Training and Education
- Support and Maintenance
- Managed Services
By Deployment Mode:
- Cloud-Based
- On-Premises
By Industry:
- BFSI
- Government and Public Utilities
- Healthcare and Hospitality
- Retail
- Manufacturing
- Education
- Media and Entertainment
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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