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Civic Services Global Market Forecasted to Reach $1447.98 Billion by 2028, Size, Share, Trends, Development Strategies and Segmentation Analysis
Civic Services Market
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According to The Business Research Company's, The civic services market size has grown strongly in recent years. It will grow from $1123.7 billion in 2023 to $1185.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to population growth, urbanization, government initiatives, infrastructure development.
The civic services market size is expected to see strong growth in the next few years. It will grow to $1447.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to digital transformation, aging population, sustainability and green practices, healthcare innovation, education technology. Major trends in the forecast period include digital transformation of government, sustainability and green practices, healthcare innovation, education technology, smart cities.
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Market Drivers and Trends:
The growth in NGOs (non-governmental organization) and charitable organizations is expected to drive the growth of the civic services market. NGOs and charitable organizations are independent from government control that operates on a not-for-profit level. The growth in NGOs and charitable organizations market leads to growth in donations, which supports the growth of the civic services market. For example, the number of people worldwide donating money to NGOs is expected to grow to 2.5 billion by 2030 from 1.4 billion in 2014. Further, the global NGOs and charitable organizations market is expected to grow from $288.97 billion in 2022 to $369.21 billion in 2027. Therefore, the growth in NGOs and charitable organizations is expected to drive the growth of the 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 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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Major Key Players of the Market:
The Southern Baptist Convention, United Nations International Children's Emergency Fund, Feeding America, American Red Cross, Open Society Foundations, William and Flora Hewlett Foundation, Republican Party, Democratic Party, Wellcome Trust, Ford Foundation, Young Men's Christian Association, Boys & Girls Clubs of America, American Cancer Society, The Salvation Army, World Food Programme, Rotary International, Habitat for Humanity International, Goodwill Industries International, United Way Worldwide, The Nature Conservancy, The Humane Society of the United States, The Sierra Club Foundation, The Carter Center, The Pew Charitable Trusts, The Rockefeller Foundation, The MacArthur Foundation, The Carnegie Corporation of New York, The Kresge Foundation, The Andrew W. Mellon Foundation, The John D. and Catherine T. MacArthur Foundation.
Civic Services Market 2024 Key Insights:
• The civic services market size is expected to see strong growth in the next few years. It will grow to $1447.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rising Role Of Ngos And Charities Fueling The Civic Services Market
• Ngos And Charities Embrace Crm Software Optimizing Donor Management
• Asia-Pacific was the largest region in the civic services market in 2023
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