The Freelance Platforms Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Freelance Platforms Global Market Report 2024, The freelance platforms market size has grown rapidly in recent years. It will grow from $6.46 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to globalization and remote work trend, skill specialization, entrepreneurial culture, economic uncertainty, increasing acceptance of remote talent.
The freelance platforms market size is expected to see rapid growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to gig economy expansion, increased focus on diversity and inclusion, blockchain and smart contracts, rise of niche platforms, government policies and regulations. Major trends in the forecast period include global expansion, integration of AI and automation, collaborative workspaces and project management tools, remote work flexibility, and gig workers’ rights and benefits.
The increasing adoption of freelance platforms by established companies is expected to propel the growth of the freelance platform market going forward. An established company refers to one that has gained a reputation for a specific product, process, service, or platform. Freelance platforms refer to online connections where qualified and skilled freelancers can find work and get paid anywhere. Established companies use freelance platforms to hire temporary workers for projects and immediate openings that do not require permanent employment, thereby saving costs, eliminating overhead costs, and accessing specialized talent. There has been a significant in increase freelance platforms lately. For instance, in July 2022, according to WINaTALENT, an Estonia-based company that connects talented IT professionals from the Middle East to international employers, freelance platforms were used by more than 48% of the Fortune 500 companies to hire freelancers in 2022. For instance, in 2023, according to Don’t Do It Yourself (DDIY), a US-based company that provides advice and reviews to grow businesses by supporting them to choose the best people and tools, the number of freelancers in the U.S. reached 73.3 million, up almost 3 million from 70.4 million in 2022. The increasing adoption of freelance platforms by established companies is driving the freelance platforms market.
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The freelance platforms market covered in this report is segmented –
1) By Type: Cloud-based, Web-based
2) By Product Type: Hourly, Monthly
3) By Application: Large Enterprises, Small and Medium Enterprises, Freelancers
Major companies operating in the freelance platform market are focusing on developing innovative solutions, such as a tech-powered platform designed to help companies find, hire, and manage top freelance marketers quickly and easily. A tech-powered platform is a digital infrastructure or system driven and enabled by advanced technology to facilitate various functionalities or services. For instance, in September 2023, Growth Collective, a US-based company that connects businesses with freelance marketers, launched Growth Collective Freelance—a tech-powered platform. This platform features fast white-glove matching, collaborative tools, and a rigorous focus on vetting and certifying top marketing talent, setting it apart in the freelance platform market. Its timely introduction addresses the growing demand for streamlined freelance solutions, providing businesses with an efficient tech-powered platform to seamlessly connect with and manage skilled freelance marketers.
The freelance platforms market report table of contents includes:
1. Executive Summary
2. Freelance Platforms Market Characteristics
3.Freelance Platforms Market Trends And Strategies
4.Freelance Platforms Market analysis
5.Freelance Platforms Market Size And Growth
6.Freelance Platforms Segmentation
7.Freelance Platforms Regional And Country Analysis
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27.Freelance Platforms Competitive Landscape And Company Profiles
28.Freelance Platforms Key Mergers And Acquisitions
29.Freelance Platforms Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Freelancer
- Next Inc.
- Upwork Global Inc.
- Fiverr International Ltd.
- TaskRabbit Inc.
- Envato Elements Pty Ltd.
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