The community engagement platform market is poised for substantial growth, projected to accumulate a robust revenue of approximately US$ 2,761.9 million by the year 2033, exhibiting an impressive (CAGR) of 16.3%. This forecast underscores the escalating significance of community engagement solutions across various sectors. As businesses and organizations increasingly recognize the pivotal role of fostering meaningful connections with their communities, the demand for advanced platforms facilitating interaction, collaboration, and participation is on the rise. The projected CAGR reflects the dynamic nature of this market, indicating a sustained and rapid expansion over the forecast period.
The community engagement platform market’s anticipated growth is indicative of its pivotal role in enhancing communication, amplifying stakeholder involvement, and fostering a sense of belonging within diverse communities. As technological advancements continue to reshape the landscape, businesses are likely to invest in these platforms to fortify their community relationships, thereby driving the market’s upward trajectory.
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Impact of COVID-19 Pandemic Outbreak on Community Engagement Platform Market
The coronavirus pandemic has not only changed the way economies are functioning now but has forced global teams and industries to change the way of managing their workforces.
It has become very critical to communicate and provide the right people with the most accurate information during the pandemic. A community engagement platform is an easy way to quickly communicate relevant, accurate information across a wide variety of audiences.
The community engagement platform market has shown significant growth during the pandemic, it is expected that the growth will increase by nearly 4% – 6% in Q1-Q3 2020.
Amid COVID-19, the adoption of the community engagement platform has increased across various industry verticals including government, education, entertainment, sports, and among others. It is expected that it will continue to become a mainstay in the post-pandemic world as well.
Community Engagement Platform Market: – Market Dynamics
The Need to Increase Visibility and Understanding between Communities
With the global rise in deepening and expanding public engagement, the importance of community engagement platforms has become pivotal for well-functioning and achieving better decisions.
The platform enables healthy relationships between business entities and communities and makes community engagement not only desirable but necessary and viable to lead to more equitable, sustainable decisions and improve the livability of local communities.
Community engagement platform increases the visibility and understanding of issues and empowers communities to have their say over decisions that affect their lives, their towns, cities, and neighborhoods. Thus, community engagement is important for individuals, public organizations, and governments alike.
Increasing Adoption of Community Engagement Platform among Government Organizations.
In order to have a functioning, thriving, and productive relationship between citizens and government, there needs to be a collaborative platform where both entities can develop, share, and execute decisions. The community engagement platform connects government agencies with their citizens to share important information, solicit feedback, and provide transparency in decisions and operations.
The platform allows citizens to stay engaged in ongoing community improvement efforts, legislative decisions, and available resources. It enables residents to directly communicate and engage with government authorities, and experience responsive government at the interpersonal level. The platform helps to manage and analyze the results to determine where improvements can be made.
The platform includes a number of tools that can be used to facilitate communication with citizens via all their preferred channels – from email to SMS, or from fax to voice and also able to facilitate posting to social media to further increase engagement. The rising adoption of community engagement platforms by government authorities would propel the growth of the community engagement platform market.
Regional Overview: North America to Dominant the Community Engagement Platform Market
North America is expected to dominate the global community engagement platform market during the forecast period, owing to the high demand for a seamless community experience witnessed from the end-users and the increasing implementation of community engagement platform by various enterprises, in the region.
Asia Pacific (including Japan and China) and Europe are expected to follow North America in the global community engagement platform market. China is, however, expected to exhibit the highest growth rate during the forecast period owing to increasing penetration of the internet, enabling the implementation of community engagement platform, across various enterprises of the region.
Leading Key Players:
Key players in the community engagement platform market are focusing on product innovation and strategic partnerships with the regional vendors to collaborate for offering advanced community engagement platform solutions and services to effectively conduct online surveys.
The major players offering community engagement platform solutions include:
- Vanilla Forums
- Hivebrite
- Higher Logic
- Discourse
- Mobilize
- Breezio
- Bang the Table
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Community Engagement Platform Market Segmentation:
By Component:
- Community Engagement Platform
- Services
- Professional Services
- Consulting
- Training and Education
- Support and Maintenance
- Professional Services
- 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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