Global Community Engagement Platform Market 2023 – 2030 by Deployment Type(On-premise, Cloud-based), Platform Type(Social Media Management, Online Community Forums), Application(Customer Engagement and Retention, Marketing and Advertising), Organization Size(Small and Medium-sized Enterprises (SMEs), Large Enterprises), - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Information Technology | Pages : 188 Pages | Published On : Jul 2023
Global Community Engagement Platform Market Insights
The valuation of the Global Community Engagement Platform Market was approximately USD 526.26 million in 2021, and it is projected to reach USD 2057.98 million by 2030, exhibiting a compound annual growth rate (CAGR) of 15.92% during the forecast period of 2023 to 2030.
Community engagement platforms play a crucial role in facilitating seamless and effective customer interaction for businesses. These platforms offer various functionalities such as social media management, customer feedback management, and online communities to assist businesses in engaging with their customers.
Several factors are fueling the growth of the market, including the increasing adoption of digital technologies, the growing number of enterprises and organizations, and the need for businesses to establish strong connections with their customers. As businesses recognize the significance of engaging customers and fostering a sense of community in the digital era, community engagement platforms have gained prominence. These platforms are online tools or software that enable individuals, organizations, and corporations to interact and engage with their communities. They facilitate communication, collaboration, and knowledge sharing among community members. The rising demand for businesses, organizations, and governments to effectively communicate with their customers, employees, and citizens is driving the market. Community engagement platforms provide a centralized and efficient approach to engage with community members, particularly with the widespread use of social media and other online channels. They offer features such as messaging, forums, polls, surveys, and events, enabling businesses and organizations to gain insights into the needs, preferences, and opinions of their communities, which can be utilized to enhance products and services.
Segmental Analysis of the Global Community Engagement Platform Market:
The market is segmented based on Platform Type, Deployment Type, Organization Size, Application, and region. Platform types include Social Media Management, Online Community Forums, Customer Feedback Solutions, Collaboration and Crowdsourcing, and Others (Chatbots, Surveys, etc.). Deployment types consist of On-premise and Cloud-based solutions. The market is further divided based on Organization Size into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. Applications of community engagement platforms include Customer Engagement and Retention, Marketing and Advertising, Human Resource Management, Sales and Commerce, and Others (Education, Healthcare, etc.). Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis of Deployment:
Among the various segments, the cloud-based deployment of community engagement platforms dominates the market and is anticipated to witness rapid expansion. Cloud-based platforms provide scalable and flexible solutions for enterprises and organizations to establish and manage online communities. They eliminate the need for costly infrastructure or technical expertise, enabling businesses to easily set up and manage online communities. Cloud-based community engagement platforms offer services such as social media management, customer feedback management, and online communities. These platforms are accessible anytime and from anywhere, making them suitable for companies with dispersed teams or remote workforce.
Due to the growing acceptance of cloud-based solutions and the increasing need for businesses to effectively communicate with their customers, the cloud-based community engagement platform market is poised for growth in the upcoming years. Established companies like Salesforce, Lithium Technologies, and Vanilla Forums offer a range of cloud-based community engagement solutions, including social media management, online communities, and feedback management.
Regional Insights for the Global Community Engagement Platform Market:
In 2021, the North America region held the largest share of the global community engagement platform market, and this leadership position is expected to continue throughout the forecast period. The United States, with its large number of companies and organizations, is projected to have the largest market share in North America. Well-known players in the community engagement platform market in North America include Salesforce, Higher Logic, and Vanilla Forums, offering various community engagement solutions such as online communities, social media management, and customer feedback management. The adoption of digital technologies and the increasing demand for businesses to foster customer interaction are key drivers of the North American market. As social media and other digital platforms continue to gain popularity, businesses are actively seeking ways to engage with their customers and provide a consistent experience across all channels.
Europe is expected to hold a significant share of the community engagement platform market due to the increasing adoption of digital technologies and the growing emphasis on customer interaction by businesses. The United Kingdom, Germany, and France are likely to be the major markets in the region.
The Asia-Pacific region is anticipated to experience rapid growth in the community engagement platform market due to the rising adoption of digital technologies and the increasing number of businesses and organizations. India and China, with their large populations and growing demand for digital solutions, are expected to be the dominant markets in the Asia-Pacific region.
Market Dynamics for the Global Community Engagement Platform Market:
The importance of community engagement platforms has become crucial globally due to the increasing need for deeper public participation. These platforms foster strong relationships between businesses and communities, making community engagement essential for making informed decisions and enhancing the livability of local communities. They raise awareness, promote understanding of issues, and empower communities to have a voice in decisions that impact their lives and surroundings. As a result, community participation is sought after by individuals, public groups, and governments, leading to increased adoption of community engagement platforms.
The effective collaboration between organizations and citizens requires a collaborative platform where decisions can be made, shared, and executed. Such platforms enable citizens to stay involved in ongoing community projects, legislative decisions, and available resources that directly affect their lives. The global demand for community engagement platforms is thus on the rise. Additionally, these platforms facilitate effective management, which further drives market growth.
The increasing sharing of personal data on community interaction platforms has raised concerns about data privacy and security. Any breach or misuse of data can have severe consequences for individuals and organizations, potentially leading to a loss of trust in these platforms. Additionally, despite the numerous benefits provided by community engagement platforms, there is still a lack of awareness about their significance among some firms and organizations. This lack of understanding may hinder the adoption of these platforms and impede market growth.
Competitive Landscape of the Global Community Engagement Platform Market:
The global community engagement platform market is highly competitive, with multiple vendors offering a diverse range of platforms and solutions. The market is characterized by the presence of established companies as well as new entrants, all vying for market share. For example, Salesforce offers a community cloud platform that enables businesses to engage with consumers, partners, and employees. The platform includes features like discussion forums, knowledge bases, and brainstorming tools to facilitate collaboration and community engagement for enterprises. Moreover, many new and emerging vendors are entering the market, offering unique solutions tailored to the specific needs of enterprises and organizations. The competition in the community engagement platform market is expected to remain intense, with providers continuously investing in innovation and differentiation to establish market dominance.
Top Player’s Company Profiles
• Sprout Social
• Lithium Technologies
• Vanilla Forums
• Higher Logic
• Get Satisfaction
• Telligent Systems
• Jive Software
• Verint Systems
• Nice Systems
- Salesforce unveiled its new digital engagement center in January 2022, enabling businesses to connect with customers through various digital channels such as social media, texting, and chat. The platform offers advanced analytics and insights to enhance customer understanding and engagement.
- In October 2021, Lithium Technologies introduced a new interface with Microsoft Teams, enabling businesses to integrate their online communities with internal Teams channels. This integration allows organizations to better engage with both customers and employees.
- Higher Logic formed a partnership with Personify, a leading constituent management software provider, in August 2021. This collaboration enables Higher Logic to offer its community engagement platform to Personify customers, providing them with a robust solution for building and managing online communities.
Key Market Trends in the Global Community Engagement Platform Market:
- Businesses are increasingly focused on delivering a superior customer experience as digital and social media channels gain popularity. Community engagement platforms are utilized to create online communities where customers can share feedback, ask questions, and connect with each other, offering valuable insights for businesses to improve their products and services.
- Integration of community engagement platforms with other marketing and customer support technologies is becoming prevalent, creating a more holistic solution. For instance, platforms are integrating with CRM systems, email marketing platforms, and social media management tools, providing customers and businesses with a unified experience.
- With the growing popularity of mobile devices, community engagement platforms are being optimized for mobile usage to enhance user experience. Responsive design, mobile apps, and push notifications are employed to keep users engaged and informed.
Table and Figures
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