Freelance Platforms Global Market Report 2023
Major players in the freelance platforms market are Fiverr International Ltd., Upwork Global Inc., Freelancer.com, Envato Elements Pty Ltd., People Per Hour Ltd., Total LLC, Guru.com, DesignCrowd, Next Inc.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Freelance Platforms Global Market Report 2023" - https://www.reportlinker.com/p06479904/?utm_source=GNW
DesignContest LLC, TaskRabbit Inc., CrowdSPRING LLC., Dribbble Hiring, WriterAccess, 99Designs, Catalant Technologies Inc., Designhill, Skyword Inc., Bark.com Global Limited, Gigster LLC., Expert360, WorkMarket Inc. WorkGenius, Freelancer Technology Pty Limited, and Field Nation.
The global freelance platforms market is expected to grow from $5.52 billion in 2022 to $6.46 billion in 2023 at a compound annual growth rate (CAGR) of 17.03%. 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 freelance platforms market is expected to reach $11.70 billion in 2027 at a CAGR of 16.01%.
The freelance platforms market includes revenues earned by companies by providing skilled freelancers with the right work, top professionals with on-demand hiring services, and others.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.
Freelance platforms refer to online connecting places where qualified and skilled freelancers can find work and get paid from anywhere in the world. This platform offers access to talent anywhere, appeal to millennials, and other benefits.
North America was the largest region in the freelance platforms market in 2022. The regions covered in the freelance platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of freelance platforms are cloud-based and web-based.Cloud-based applications or platforms are the more advanced forms of web-based apps, as they were initially developed from web-based apps and matured before becoming cloud-based apps.
A cloud-based freelancer platform that helps companies deploy, source, and manage freelancers, consolidate invoices, and automate payments. The freelance platforms are typically available in hourly and monthly models that are used by large enterprises, small and medium enterprises (SMEs), and freelancers.
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.
Product innovations are a key trend gaining popularity in the freelance platform market.Major companies operating in the freelance platform market are focused on developing new solutions to strengthen their position in the market.
In March 2023, DeeLance, a Marshall Islands-based freelancing network company, launched a Web3-based platform, the first decentralized freelance network in the world that aims to redefine freelancers’ connection with potential employers. The platform envisions micro-communities in a metaverse where sellers and buyers of creative works can network, connect, and form long-term relationships and an NFT marketplace.
In March 2020, Third Summit Corporation, a US-based company that comprises a group of agile companies offering digital media and advertising solutions to the mid-tier marketplace, acquired the digital freelance platform Blis.Through this acquisition, Third Summit combines Blis’ intuitive, mobile-focused freelance marketplace solutions with its full suite of innovative solutions that bring value to freelancers and clients.
With the ultimate goal of integrating the startup into the overarching Third Summit ecosystem, companies can find and hire freelance content creators. Blis is a US-based freelance platform that connects staffing with top creative and technical professionals to fill their immediate project needs around the world.
The countries covered in the freelance platforms market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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 freelance platforms software market research report is one of a series of new reports that provides freelance platforms software market statistics, including freelance platforms software industry global market size, regional shares, competitors with a freelance platforms software market share, detailed freelance platforms software market segments, market trends and opportunities, and any further data you may need to thrive in the freelance platforms software industry. This freelance platforms software 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.
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