Gig Based Business Market Scope
A big business is a free market system in which firms recruit independent workers for short-term commitments and temporary positions are frequent. A "gig" is a slang term for employment that lasts for a set amount of time. In recent years, there has been a shift toward a gig economy. The surge in short-term jobs is due to a number of factors. For one thing, the workforce is becoming increasingly mobile, and work is increasingly being done remotely via digital platforms. As a result, jobs and places are becoming increasingly dissociated. Employers can choose the best persons for certain projects from a bigger pool than what is available in any one area, while freelancers can choose from a variety of temporary jobs and projects all over the world. Financial demands on firms, which contribute to a flexible workforce, and the entry of the millennial age into the labor market are two more factors. People, particularly millennials, have a tendency to change employment numerous times during their working life, and the gig economy is an outgrowth of that trend. Independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers are all examples of gig workers. On-demand workers sign formal agreements with on-demand companies to provide services to their clients.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Guru.com (United States), Upwork (United States), BellHops (United States), HopSkipDrive (United States), Favor Delivery (United States), Freelancer (Australia), Fiverr (Israel), Hexaware (United States), TaskRabbit(United States), Rover (United States) and SimplyHired (United States) |
CAGR | 22.5% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Gig Based Business market throughout the predicted period.
Guru.com (United States), Upwork (United States), BellHops (United States), HopSkipDrive (United States), Favor Delivery (United States), Freelancer (Australia), Fiverr (Israel), Hexaware (United States), TaskRabbit(United States), Rover (United States) and SimplyHired (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Gig Based Business market by Type , by Application (Freelancer, Independent Contractor, Project Worker, Part-Time and Other) and Region with country level break-up.
On the basis of geography, the market of Gig Based Business has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On December 7, 2023, Doordash launched DoorDash DashMart, a Convenience Store Delivery Service: This service allows users to order groceries and household essentials for on-demand delivery.
Influencing Trend:
Businesses Save Resources in Terms of Benefits, Office Space and Training
Market Growth Drivers:
Many Freelance Workers in the Gig Economy find that their Status Allows them Great Flexibility and Providers Greater Independence
Challenges:
Difficult to Maintain Relationships Between Workers, Employers and Clients Long Term
Restraints:
Inconsistent income
Opportunities:
Growth Opportunities in Startup Companies and Work from Home is Creating New Opportunities for Freelancers
Key Target Audience
Gig Based Business Companies, IT Companies, Software Providers and Governmental bodies