HR professional services Global Market Report 2023 – By Type (Core HR, Employee Collaboration and Engagement, Recruiting, Talent Management, Workforce Planning and Analytics), By Enterprise (Large Enterprises, Small and Medium Enterprises), By Deployment (Hosted, On Premise), By End User (Academia, Banking, Financial Services and Insurance, Government, Healthcare, IT and Telecom, Manufacturing, Retail, Other End Users) – Market Size, Trends, And Global Forecast 2023-2032

SaaS is a software distribution model which allows data to be accessible from any device with an internet connection and a web browser. The software provider hosts and maintains the servers, databases, and code that comprise the application under this web-based approach. The main deployment types of software as a service (SaaS) are public cloud and private cloud. The public cloud is an IT model in which on-demand computing services and infrastructure are managed by a third party and shared by multiple organizations via the public Internet. The software is used by small and medium enterprises (SMEs), large enterprises for customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), manufacturing and operations and supply chain management (SCM). The various end users of the software include manufacturing, retail, education, healthcare, IT and telecom, BFSI and others. The global software as a service (SaaS) market is segmented - 1) By Application: Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Manufacturing and Operations, Supply Chain Management (SCM) 2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud 3) By Enterprise Size: Small & Medium Enterprises (SMEs), Large Enterprises 4) By End User: Manufacturing, Retail, Education, Healthcare, IT & Telecom, BFSI, Other End-Users The global software as a service (saas) market size will grow from $235.58 billion in 2022 to $253.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global software as a service (saas) is expected to grow to $328.03 billion in 2027 at a CAGR of 6.6%. Rapid changes in business dynamics in the market are expected to benefit the software as a service (SaaS) market in the forecast period as cloud-based solutions support business operations in changing conditions. Dynamic market conditions include economic uncertainty, competitive rivalry and the increasing adoption of mobile, changing regulations, internet usage and applications. These conditions along with the increasing number of infrastructures and established networks have forced organizations to pursue scalable and flexible solutions such as SaaS and other cloud-enabled services to run and supervise their operations in a cost-effective and efficient way. These factors have also compelled companies to outsource applications and prefer cloud computing services like SaaS to reduce their cost burden on infrastructure. Companies that seek services from a third-party vendor are more likely to get better performance, compliance and customer satisfaction at a low cost. For example, Sony Communications aims at delivering innovative products and better experiences to its customers using automation and Infosys SaaS solutions. Infosys helped Sony to attain customer loyalty and win competition by providing robust IT solutions and design thinking at a low cost which helped Sony to have a competitive edge in the software as a service (saas) market. Major players in the Software as a Service (SaaS) market are Salesforce, ServiceNow, Microsoft, Google, CisCo., Slack, Adobe, Oracle, Amazon AWS, DocuSign, Zendesk, Dropbox, ADP, Atlassian Confluence, Shopify, Workday, Hubspot, SAP, IBM, Box, Concur, JIRA, GitHub, GoToMeeting, Twilio, CoupaSoftware, Xero and Zuora. Increasing threats on data security especially on cloud platforms are expected to limit the growth of companies in the software as a service market during the forecast period. The threats on data security include industrial espionage and hacking which resulted in multiple breaches of data security involving public cloud environments. These breaches are mainly because of the negligence the cloud service providers. In addition, many companies lack trust in data security when outsourcing from a third-party vendor. As vendor has access to organizations' data, companies fear the misuse of data which might affect the organization's reputation. For example, Code Spaces, a former SaaS provider, discontinued its operations as hackers had access to its cloud services and stole all their data due to which Code Spaces faced damages to its reputation, finances, and business. The introduction of artificial intelligence is gaining popularity in the SaaS market. Artificial Intelligence (AI) is an area of computer science that focus on the simulation of human intelligence processes by machines. AI in SaaS helps companies to upgrade themselves from time to time with the latest data, create better user experience through predictive analytics, automate the areas where manual functions were required previously and personalize user interface features. For example, Oracle, a big player in SaaS market uses AI and machine learning to overtake salesforce in SaaS. This indicates that AI and machine learning would be differentiating factors for the growth of SaaS market. The General Data Protection Regulation (GDPR) break the split of regulations for the security of personal data in the European Union. It makes provisions to protect personal data and privacy of EU citizens for transactions that happen within EU member states. It also regulates the export of personal data outside the EU. There could be data-subjects that patronize the subscriber that are located in the EU, even if a single SaaS subscriber is based in a non-EU location and the SaaS application is based in a non-EU location. This may cause the subscriber to follow the GDPR regulations. For instance, Intercom, a US-based SaaS provider is shortening its time of storing data on visitors to customers' sites by deleting the visitor data if a visitor has not been seen for nine months to comply with the GDPR. In October 2021, Microsoft Corporation acquired Ally.io for an undisclosed amount. With this acquisition, Ally.io has become a member of the Microsoft Viva family as part of its employee experience platform (EXP) designed to assist businesses in embracing the new digital work life. Ally.io is a US-based SaaS startup. North America was the largest region in the Software as a Service (SaaS) market in 2022. Western Europe was the second largest region in the global Software as a Service (SaaS) market share. The regions covered in the global Software as a Service (SaaS) market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the software as a service (SaaS) market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The software as a service (SaaS) market includes revenues earned by entities by providing cloud based software services. SaaS is a software solution that can be purchased on a subscription or pay per use basis to use an application for organizational purposes. Customers can access this application over the internet, mainly through a web browser. All software and application data is located in the service provider's data center. SaaS allows an organization to run an application with minimal upfront costs and accelerates the overall functionality of the organization. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The software as a service (SaaS) market research report is one of a series of new reports from The Business Research Company that provides software as a service (SaaS) market statistics, including software as a service (SaaS) industry global market size, regional shares, competitors with a software as a service (SaaS) market share, detailed software as a service (SaaS) market segments, market trends and opportunities, and any further data you may need to thrive in the software as a service (SaaS) industry. This software as a service (SaaS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Human rights refer to recognized standards for the protection of the dignity of all human beings and the responsibility of the state towards each individual without any bias in society. Human rights organizations are engaged in promoting causes associated with human rights either for a broad or a specific constituency. The main types of human rights organizations are nongovernmental organizations, intergovernmental organizations, governmental organizations, and international organizations. Governmental human rights organizations are run by government bodies and are involved in the protection of human rights and the reduction of human rights violations. The different modes of donation include online and offline. The organization’s locations can be domestic, and international and have various applications in areas such as all humans, children, women, disabled, LGBTQ, and others. The global human rights organizations market is segmented - 1) By Type of Organizations: Nongovernmental Organizations, Intergovernmental Organizations, Governmental Organizations, International Organizations 2) By Application: All Humans, Children, Women, Disabled, LGBTQ, Other Applications 3) By Mode of donation: Online, Offline 4) By Organization Location: Domestic, International The global political organizations market size will grow from $17.49 billion in 2022 to $18.02 billion in 2023 at a compound annual growth rate (CAGR) of 3.0% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global political organizations market is expected to grow to $19.89 billion in 2027 at a CAGR of 2.5% . The rise in hate crimes is expected to drive the human rights organizations market. Hate crime is a form of criminal violence upon a person or property, caused in whole or in part by an offender’s bias against a race, religion, disability, sexual orientation, ethnicity, gender, or gender identity. As per the Uniform Crime Reporting (UCR) program in the U.S. (Federal Bureau of Investigation, 2020), over 8,000 victims of hate crimes were reported by law enforcement agencies. Similarly, according to data compiled by the Center for the Study of Hate and Extremism at California State University, US hate crimes in a big city spiked by 39% in 2021. Government and non-governmental organizations aim to curb the abuses that challenge people's human rights, which further aids in the growth of the human rights organizations market. Major players in the human rights organizations market are Amnesty International, Human Rights Watch, Civil Rights Defenders, Human Rights Without Frontiers International, Physicians for Human Rights, Anti-Slavery International, Global Rights, UN Watch, European Centre for Minority Issues, and International Federation for Human Rights . Increasing attacks against human rights defenders are anticipated to hinder the human rights organization market. Attacks against human rights organizations that strive to safeguard human rights are rising at an alarming rate. For instance, in 2020, the Business and Human Rights Resource Center tracked around 604 attack cases that were related to business-related activities. These attacks cause a sense of fear and timidness among individuals who work for human rights protection and challenge human rights protection activities, which thereby impedes the growth of the market. Organizations and human rights defenders are working towards protecting the digital human rights of individuals. According to the survey by the cybersecurity company NordVPN, in 2022, in Australia, 3% of people worry about being tracked online, and 27% believe they are tracked almost constantly. Data collection has become mainstream in that it breaches the privacy of individuals as everything is being tracked over the internet. To safeguard the interests of individuals using digital technology, human rights organizations are spreading awareness and are fighting to bring laws into place. Human rights organizations are increasingly using predictive and descriptive analytics to generate actionable data insights. Organizations are using descriptive analytics for simple reporting or to detect non-compliance after transactions are completed. Descriptive analytics help nonprofits understand who their donors are, therefore establishing a basis for predictive analytics. Predictive analytics can increase understanding of the relative effectiveness of different programs so that resources can be smartly targeted for better results. For example, US based technology company, IBM’s SPSS Predictive Analytics for non-profits product was developed to improve program effectiveness, increase donations, and reduce costs with a stable release in 2021. In September 2020, Alwaleed Philanthropy, a charitable and philanthropic organization founded with a mission to help mitigate poverty and transcend international boundaries, joined the Saudi Human Rights Commission to sign a memorandum of cooperation aimed at improving the protection of human rights of women and young people in Saudi Arabia. The Saudi Human Rights Commission is a Saudi government organization working for the protection and promotion of human rights in line with international standards. Asia-Pacific was the largest region in the human rights organizations market share in 2022. North America was the second largest region in the global human rights organizations market. The regions covered in the global human rights organizations market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the human rights organizations market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The human rights organizations market consists of revenues earned by entities that are engaged in human rights activities such as standards for the protection of the dignity of all human beings and the responsibility of the state towards each individual without any bias in society. The Human Rights market includes establishments such as civil liberties organizations, senior citizens advocacy organizations, human rights advocacy organizations, and veterans’ rights organizations. This market addresses issues such as protecting and promoting the broad constitutional rights and civil liberties of individuals and those suffering from neglect, abuse, or exploitation, promoting the interests of specific groups, such as children, women, senior citizens, or persons with disabilities, improving relations between racial, ethnic, and cultural groups, and promoting voter education and registration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The human rights organizations market research report is one of a series of new reports from The Business Research Company that provides human rights organizations market statistics, including human rights organizations industry global market size, regional shares, competitors with a human rights organizations market share, detailed human rights organizations market segments, market trends and opportunities, and any further data you may need to thrive in the human rights organizations industry. This human rights organizations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

HR advisory services assist businesses in increasing the efficiency of HR operations and effectively implementing new policies and procedures. HR Advisory Services help organizations transform their business culture, including changes in organizational design, processes, and systems, among other things. The main types of HR advisory services are compensation consulting, benefits consulting, human resources management consulting, actuarial consulting, strategic consulting, and others. Compensation consultants are professionals in the implementation and design of compensation programmes with the purpose of generating the right incentives for employees. They also advise businesses on compensation trends and current pay rates for specific job categories. The various types of services include integration & deployment, support & maintenance, training and training & consulting and are used by IT services, manufacturing, financial services, mining, oil & gas, construction, and others. The global HR advisory services market is segmented - 1) By Type: Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting, Other Types 2) By Service: Integration & Deployment, Support & Maintenance, Training & Consulting 3) By End-Use: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Other End-Uses The global HR advisory market size will grow from $150.99 billion in 2022 to $157.54 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global HR advisory market is expected to grow to $179.58 billion in 2027 at a CAGR of 3.3%. The use of data-driven tools and analytics for employee engagement is a major driver contributing to the growth of the HR advisory services market. Employee engagement refers to a workplace approach that results in appropriate conditions for all the employees of the company to give their best performance every day by abiding by the values of the company with an enhanced feeling of their well-being. Professionals in human resource management are relying on data analytics and AI for key decisions. For instance, Genpact, an American professional services company, analyses employee data, segments and categorises it to find patterns such as at what age, salary range, or experience level employees leave the organization. Predictive analytics is used to identify employees who are at high risk of voluntary attrition, and interventions are designed to re-engage them. Further advances in data-driven tools and analytics are expected to drive the growth of the HR advisory service market. Major players in the HR advisory services market are IBM Corporation, Mckesson Corporation, Dell, Tata Consultancy Services, Infosys Limited, Accenture PLC, Aon, Deloitte Touche Tohmatsu Limited, The Adecco Group, and Marsh & McLennan Companies Inc. Cybersecurity threats to the human resource department are a major factor hindering the growth of the HR advisory services market. A cybersecurity breach is costly and equally destructive for all organizations—big or small. According to Heimdal Security, cyber-crimes cost the global economy $100 billion every year and $17 million in the USA alone. HR professionals maintain extremely private and sensitive information such as social security numbers, dates of birth, addresses, and bank details. In addition to this, according to Mercer’s 2020 Global Talent Trends Study, nearly two thirds (62%) of executives said the greatest threat to their organization’s cybersecurity was employees non-compliance with data security rules, rather than hackers or vendors. Companies rely on their HR department and do not outsource HR services because there is a risk of losing important employee data in availing external HR services, thereby restraining the growth of the HR advisory services market over the forecast period. Organizations across the globe are focusing on creating a digital workplace using cloud services and AI, which is gaining significant popularity in the HR advisory market. The digital workplace is a modern concept using digital transformation to align technology to achieve organizational goals with operational efficiency. Cloud services and artificial intelligence (AI) are critical components of the digital workplace, assisting in the removal of geographic barriers for improved collaboration, increasing productivity and employee engagement, improving decision making, and optimizing costs. For instance, according to The Future of Jobs Report 2020, published by the World Economic Forum, AI is expected to replace 85 million jobs globally by 2025. In March 2020, Aon PLC., a London-based global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, acquired Willis Towers Watson (WTW), the UK-based risk management, insurance brokerage, and advisory company, for $30 billion. The acquisition will strengthen Aon Plc's expertise in cybersecurity, intellectual property, climate change, and health solutions. The combined entity would work together in the risk, retirement, and health businesses. Willis Towers Watson (WTW) is a London-based company that helps clients around the world in 140 countries with global advisory, HR consulting, software, broking, and other solutions. North America was the largest region in the HR advisory services market in 2022. Western Europe was the second largest region in the global HR advisory services market share. The regions covered in the global HR advisory market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the HR advisory services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The HR advisory market consists of revenue earned by entities by providing services such advising on human capital matters and/or offerings revolving around the HR function. HR advisory services are generally used by three types of clients: those aiming to improve their HR function by redesigning HR processes, those undergoing transformations such as mergers and acquisitions to ensure the new human capital is trained. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The HR advisory market research report is one of a series of new reports from The Business Research Company that provides HR advisory market statistics, including HR advisory industry global market size, regional shares, competitors with a HR advisory market share, detailed HR advisory market segments, market trends and opportunities, and any further data you may need to thrive in the HR advisory industry. This HR advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Business process automation refers to the application of cutting-edge technology to finish business processes with the least amount of human involvement. The business process automation is used with greater efficiency, higher productivity, increase in profits, time savings, and many more. The main components of the business process automation market are platforms and services. Platforms refer to a system that substitutes automatic procedures for time-consuming manual ones. The deployment types include cloud and on-premises. The organizations include large enterprises and SMEs. The functions include human resource automation, supply chain automation, sales, and marketing automation, accounting and finance automation, and customer service support automation. The various verticals include BFSI, manufacturing, IT, telecommunications, retail and consumer goods, and healthcare. The global business process automation market is segmented - 1) By Component: Platforms, Services 2) By Deployment Type: Cloud, On Premises 3) By Organization Size: Large Enterprises, SME's 4) By Function: Human Resource Automation, Supply Chain Automation, Sales And Marketing Automation, Accounting And Finance Automation, Customer Service Support Automation 5) By Vertical: BFSI, Manufacturing, IT, Telecommunications, Retail And Consumer Goods, Healthcare The global business process automation market size will grow from $12.4 billion in 2022 to $14.02 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the business process automation is expected to grow to $22.94 billion in 2027 at a CAGR of 13.1%. An increase in customer face time and customer experience is expected to propel the growth of the business process automation market. Customer face time is an important metric that includes any time spent talking with customers. Customer experience refers to the overall perception that customers have of your brand during the entire buyer's journey. Software for business process automation puts the customer experience first. Data cleaning, programmable automation, and reporting are features that guarantee efficient transactions, prompt responses, and individualized care. For instance, in April 2022, according to Emplifi Czech Republic-based company that specialized in AI-powered social marketing, 25% of businesses anticipate combining marketing, sales, and customer experience (CX) into a single department by 2023. A customer care officer, customer care officer, or executives with similar responsibilities are now employed by over 90% of businesses. 52% of consumers want a response from a business within an hour, and 75% of consumers believe it is crucial for firms to provide them with a fully self-service customer care option. 39% said they had to wait longer than two hours for a response. An increase in customer face time and customer experience is driving the business process automation growth. Major players in the business process automation market are IBM Corporation, Pegasystems Inc., Nintex Inc., Oracle Corporation, Software AG, Salesforce.com Inc., Microsoft Corporation, Appian Corporation, OpenText Corporation, AgilePoint, DXC Technology Company, Kissflow Inc., TIBCO Software Inc., Laserfiche, and OptimumHQ. Technological advancement is a key trend gaining popularity in the business process automation market. Major companies in the business process automation market are advancing in their new technologies and research and development such as Pegasystems newly updated Pega Infinity. For instance, in May 2021, Pegasystems the a US-based software relationship management and business process management company launched Pega Infinity. The unique features of the new technology are Artificial Intelligence (AI) hastens application development. This element combines Pega's low-code process automation software with AI-driven decisioning, a focus area for the company. The number of channels available to you for consumer communication has increased thanks to Pega. The major goal of Pega Customer Decision Hub is to make interactions between businesses and their customers more personalized. In April 2021, International Business Machines Corporation (IBM) a US-based computer hardware and software, provider of information and technology company acquired MyInvenio company for an undisclosed amount. As a result of the acquisition, the features of MyInvenio would be incorporated into IBM's automation portfolio, which includes Red Hat OpenShift, IBM Cloud Pak for Business Automation, and over 600 prebuilt processes. IBM, business partners of IBM may potentially have access to MyInvenivo's technology to help clients gain insights into their operations. MyInvenivo is an Italy-based company that provides a sophisticated process mining solution with elements including simulation, decision rule mining, and multi-level process mining. North America was the largest region in the business process automation market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in business process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the business process automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The business process automation market consists of revenues earned by entities by providing email automation and automated order entry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The business process automation market research report is one of a series of new reports from The Business Research Company that provides business process automation market statistics, including business process automation industry global market size, regional shares, competitors with a business process automation market share, detailed business process automation market segments, market trends and opportunities, and any further data you may need to thrive in the business process automation industry. This business process automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The trust refers to an establishment where the donor transfers the legal title of assets to the trustee for its use in the welfare of society. Foundations refer to the tax-exempted establishments formed for specific general welfare purposes by the owner of the property and managed by a person or persons called directors or founders. The main types of trust and foundations are grantmaking non-profit, public foundations, corporate foundations, company-sponsored foundations, grantmaking public charities, independent foundations, community foundations, private family foundations, art foundations, and operating foundations. The corporate foundation is an organization that is supported and created by a corporation. The different types of donors include small-scale donors, mid-scale donors, and major donors and involve various frequencies of donations such as recurring donors, lapsed donors, and new donors. The global trust and foundations market is segmented - 1) By Type: Grantmaking non-profit, Public Foundation, Corporate Foundation, Company-sponsored Foundation, Grantmaking Public Charities, Independent Foundations, Community Foundation, Private Family Foundation, Arts Foundation, Operating Foundations 2) By Type of Donors: Small Scale Donor, Mid Scale Donor, Major Donors 3) By Frequency of Donation: Recurring Donors, Lapsed Donors, New Donors The global trust and foundations market size will grow from $153.96 billion in 2022 to $162.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global trust and foundations is expected to grow to $193.87 billion in 2027 at a CAGR of 4.6%. An increase in charity by people to several foundations is driving the market of trust and foundations market. People are coming forward to help others in difficult times by providing any kind of assistance that can ease the life of the needy. According to the statistics provided by the National Philanthropic Trust (NPT), approximately 90% of high-net-worth households give to charity. The Giving USA report shows that Americans gave $471 billion to charity in 2020, which was a 5.1% increase compared to total giving of $448 billion recorded in 2019. Therefore, an increase in charity by individuals, families, and personal foundations helps in driving the trust and foundation market growth. Major players in the trust and foundations market are United Way Worldwide, Feeding America, Task Force for Global Health, Salvation Army, American National Red Cross, St. Jude Children's Research Hospital, Americares Foundation, Food for the Poor, United States Fund for UNICEF, MAP International, Mount Sinai Health Systems, Save the Children Federation, Mayo Clinic, Bill and Melinda Gates Foundation, Open Society Foundations, Ford Foundation, William and Flora Hewlett Foundation, Children’s Investment Fund Foundation, United Nations Foundation, John D and Catherine T Macarthur Foundation, Conrad N. Hilton Foundation, Rockefeller Foundation, Gordon and Betty Moore Foundation. The issue related to NGOs acting as a cover for illegal activities is expected to limit the growth of the trust and foundations market. The involvement of trust and foundations in illegal activities creates a negative image in society leading to a loss of confidence. For instance, in August 2020, it has been reported by New Vision that more than 200 refugee NGOs were operating illegally in Uganda. It was reported that these refugee settlements are operating without valid permits and valid memorandum of understanding (MOUs). When the verification was done, it was found that only 69 partners were fully authorized to implement request-response activities and around 208 were illegal. Therefore, this kind of event causes trust issues, which restrict the growth of the trust and foundations industry. Funds are collected from generous individuals and also some companies as part of their Corporate Social Responsibility (CSR) activity. Help Age India, an Indian non-profit organization, helps senior citizens who do not have any support with such funds. The organization advocates for their necessities such as quality medical services, action against elder abuse, and many other activities at a public, state, and cultural level with Central and State governments. For instance, Help Age India conducted the largest healthcare program across India. It provided cataract surgeries to the elderly. There is an increase in NGOs catering to climate change activism as this is a widespread issue affecting several people and communities. Young people around the world are majorly elevating their voices on the issue of environmental change. From Greta’s movement, ‘Fridays for Future’ to the Madrid Climate Change Conference, all are focused on directing attention toward climate change. For instance, the United Nations carries out its efforts to protect the environment with the help of the UN Environment Programme (UNEP) and the World Meteorological Organization (WMO). Another organization working in the direction of climate change is the Green Climate Fund which helps by providing financial assistance to projects directed toward protecting the environment. Asia-Pacific was the largest region in the trust and foundations market in 2022. North America was the second-largest region in the global trust and foundations market share. The regions covered in global the trust and foundations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the trust and foundations market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The trust and foundations market consists of revenues earned by entities that operate grant-making foundations or charitable trusts. The trust and foundations market includes establishments such as community foundations, philanthropic trusts, corporate foundations, and scholarship trusts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The trust and foundations market research report is one of a series of new reports from The Business Research Company that provides trust and foundations market statistics, including trust and foundations industry global market size, regional shares, competitors with a trust and foundations market share, detailed trust and foundations market segments, market trends and opportunities, and any further data you may need to thrive in the trust and foundations industry. This trust and foundations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

NGOs And Charitable Organizations Market Definition

The NGOs and charitable organizations market consists of the revenues generated by entities (organizations, sole traders and partnerships) including grant-making foundations or charitable trusts and other establishments engaged in raising funds for a wide range of social welfare activities, such as health, educational, scientific, and cultural activities. A non-governmental organization (NGO) is a non-profit, independent group that operates at community, national or international level to serve a social, political, humanitarian, or environmental cause and is not related or affiliated to government. A charitable organization operates and provides similar services to an NGO. However, charitable organizations usually have their own policies and cannot accept government funding, while an NGO usually receives local and non-local government funding. Charitable organizations raise funds through their own charitable fundraising operations and donations.

A coworking space is a shared or collaborative office space shared by many individuals or businesses located in the same buildings, provided on a rental basis by the property owners, and that helps employees replicate the sense of community that may be lacking in the virtual workplace. The main types of businesses in coworking spaces are open or conventional coworking spaces, corporate or professional coworking spaces, and others. The corporate/professional coworking space caters to tenants who are more corporate or professional. It will be more cost-effective than a high-end location, with a peaceful, personal, and professional ambiance, softer lighting, and less energy consumption than other types of rooms. The different users include enterprises, freelancers, and others, and are used by various sectors such as finance, legal services, marketing, technology, real estate, consulting services, and others. The global coworking space market is segmented - 1) By Business Type: Open/ Conventional Coworking Spaces, Corporate/ Professional Coworking Spaces, Other Business Types 2) By End Use: Finance, Legal Services, Marketing, Technology, Real Estate, Consulting Services, Other End Uses 3) By User: Enterprises, Freelancer, Other Users The global coworking space market size will grow from $16.17 billion in 2022 to $19.05 billion in 2023 at a compound annual growth rate (CAGR) of 17.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global coworking space market size is expected to grow to $34.99 billion in 2027 at a CAGR of 16.4%. The coworking spaces market is majorly determined by the increase in the number of start-ups globally. According to the Global Startup Ecosystem Report 2021, by Startup Genome, the global start-up economy was worth $ 3.8 trillion. The growth is backed by the expansion of internet space, exposure to the knowledge of entrepreneurship outside the boundaries of the country, and improved literacy rates. Besides, advanced manufacturing and robotics, agriculture technology and new food, blockchain, artificial intelligence, big data, and analytics were the fastest-growing start-up sub-sectors globally. Therefore, the rise in the number of startups across various industries globally increased the demand for coworking spaces, driving the market during the forecast period. Major players in the coworking spaces market are Wework, Regus Corporation (IWG Plc), Mix Pace, Knotel Inc., SimplyWork, District Cowork, Premier Workspaces, Krspace, Convene, Servcorp Limited, Novel Coworking, TechSpace Inc., SOMAcentral, HackerLab, Industrious, UCOMMUNE, Your Alley, Impact Hub, Serendipity Labs, Make Office, Green Desk, Venture X, Office Evolution, CommonGrounds Workplace, and Intelligent Office and Studio. The increase in the number of people working from home or remotely owing to the COVID-19 lockdown limits the growth of the market. For instance, in March 2020, many companies working from home owing to the COVID-19 pandemic, and operators of coworking spaces have seen an almost 50% decline in footfalls. Furthermore, according to the Business 2 Community publication in April 2020, the number of people working remotely has grown by 44% in the last five years, with 7 million people (3.4% of the population) working remotely in the USA before their arrival of COVID-19. Nevertheless, the number of people working remotely is tremendously increased owing to the coronavirus outbreak over the last few months. Consequently, declining the revenues generated by the coworking spaces market during 2020. The development of sustainable coworking spaces is a major trend shaping the coworking spaces market. Coworking spaces are implementing eco-friendly measures in the workplace to attract entrepreneurs concerned with environmental issues such as global warming. Sustainable practices adopted by coworking space providers offer substantial benefits and are economically feasible. For instance, CoCoon in Hong Kong has a floor made of natural bamboo and uses non-toxic paints and LED lights. In addition to this, drought-resistant plants are part of the interior and exterior. Another such example is Green Spaces in Denver uses about 160 solar panels on the roofs of its offices. These allow significant cost savings at Green Spaces. Thus, sustainable coworking space is a key trend in the coworking spaces market. In January 2022, WeWork Inc. a US-based company providing coworking spaces, including physical and virtual spaces acquired Common Desk for an undisclosed amount. This acquisition helps WeWork Inc. to execute a path towards cost-efficient, strategic growth. Common Desk is committed to creating experiential coworking and office spaces that boast flexible memberships for all types of professionals across the USA. Asia-Pacific was the largest region in the coworking space market share in 2022. North America was the second largest region in the global coworking space market. The regions covered in the global coworking spaces market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the coworking space market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The coworking spaces market consists of revenues earned by entities that provide coworking space on rent or lease. Unlike traditional office rental, the cost of renting coworking workspaces usually covers the use of related services/equipment such as office chairs and desks, internet/Wi-Fi connection, hardware, software, and others. The industry includes businesses that offer non-residential structures with amenities and facilities on a flexible rental basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The coworking spaces market research report is one of a series of new reports from The Business Research Company that provides coworking spaces market statistics, including coworking spaces industry global market size, regional shares, competitors with a coworking spaces market share, detailed coworking spaces market segments, market trends and opportunities, and any further data you may need to thrive in the coworking spaces industry. This coworking spaces market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

An insurance broker is a person who is authorized to sell insurance and frequently collaborates with numerous insurance providers to provide customers with a range of products. The main types of insurance brokers are life insurance, general insurance, health insurance, others. Life insurance in the insurance brokers market refers to the contract between the insurer and the insurance policyholder that promises to pay a total sum of money upon the death of an insured person. The services are offered in various modes, such as offline, and online mode. These are used by corporate, and individuals. The global insurance brokers market is segmented - 1) By Type: Life Insurance, General Insurance, Health Insurance, Other Types 2) By Mode: Offline, Online 3) By End User: Corporate, Individual The global insurance brokers market will grow from $98.82 billion in 2022 to $105.33 billion in 2023 at a compound annual growth rate (CAGR) of 6.6% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global insurance brokers market is expected to grow to $130.35 billion in 2027 at a CAGR of 5.5%. The increasing demand for insurance policies is expected to fuel the growth of the insurance brokers market over the forecast period. The demand for insurance policies has risen due to the availability of security services and customized financial services to clients. According to the Insurance Regulatory and Development Authority (IRDAI) of India, the Life Insurance Corporation of India sold 2.17 crore insurance policies in the fiscal year 2021-2022 which was an 3.54% increase from previous year’s 2.10 crore policies. Therefore, the increasing demand for insurance policies drives the growth of the insurance brokerage market. Major players in the market are Aon PLC., Arthur J. Gallagher & Co., BB&T Corp., Brown & Brown Insurance Inc., HUB International Ltd., Marsh & McLennan Companies Inc., NFP Corp., Willis Towers Watson PLC., Wells Fargo Insurance Services, and Meadowbrook Insurance Group. The impact of COVID-19 is predicted to limit the growth of the insurance brokers market over the forecast period. The COVID-19 pandemic has taken the lives of millions of people, affected supply chains & business sectors, and disrupted economies worldwide. The coronavirus outbreak has several impacts on the insurance sector, from employee and business continuity concerns to customer care considerations to the financial outlook. For instance, the Indian insurance industry's productivity has been hit by 30% in March 2020. The pandemic has pushed the insurance industry to heavily depend on digitalization for selling new policies, setting up claims, and making other transactions. Therefore, the impact of COVID-19 restraints the growth of the insurance brokers market. The integration of AI in the insurance sector is a key trend gaining popularity in the insurance brokers market. The combined power of AI and human creativity enables the Intelligent Broker, an automation programme for the insurance industry. Brokers will be able to resolve complicated obstacles, produce innovative products and services, and join or build new markets. In addition to this, AI in the insurance industry will improve customer service and prevent customers from fraud. In 2021, 60% of the insurance companies are targeting AI to be used in decision making and to reduce manual input, which has doubled in the last two years. In March 2020, Aon, a UK-based global professional services firm that is engaged in selling a wide range of financial risk-mitigation products, including pension administration, insurance, and health-insurance plans, acquired Willis Towers Watson for $30 billion. The acquisition provided Aon with the ability to serve clients in areas including intellectual property, cyber, and climate risk to the company clients. Moreover, the deal will accelerate the innovations and strengthen the company’s position in the insurance industry with more relevant solutions for clients. Willis Towers Watson is a British-American company engaged in providing risk management, insurance brokerage, and advisory services. North America was the largest region in the insurance brokers market in 2022. Western Europe was the second largest market in the global insurance brokers market share. The regions covered in the global insurance brokers market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the insurance brokers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The insurance brokers market consists of sales of insurance products by entities that act as intermediaries (i.e., agents or brokers) in selling annuities and insurance policies. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The insurance brokers research report is one of a series of new reports from The Business Research Company that provides insurance brokers statistics, including insurance brokers industry global market size, regional shares, competitors with insurance brokers share, detailed insurance brokers segments, market trends and opportunities, and any further data you may need to thrive in the insurance brokers industry. This insurance brokers research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.