About Gig Economy Platforms
The Gig Economy is referred to as the exchange of labor between individuals or enterprises through digital apps or platforms in consideration of money. The gig economy utilizes digital stages to interface consultants with clients to offer transient types of assistance or resource sharing incorporate ride-hailing applications, food conveyance applications, and occasion rental applications. A significant part of the stage economy is computerized work stages which incorporate both online stages, where work is re-appropriated through an open call to a geologically scattered group and area-based (applications) which dispense work to people in a particular topographical region, commonly to perform neighborhood, the administration arranged assignments like driving, getting things done or cleaning houses.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Gig Economy Platforms Market is fragmented with the availability of different small, medium, and giant players. The organizations are concentrated their activities majorly on research and development regarding the development and implementation of new technology advancement. Moreover, the companies are collaborating and making strategic partnerships with the technology provider companies to provide product uniqueness in the market and avail competitive advantage over other competitors. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Gig Economy Platforms market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BellHops (United States), DoorDash (United States), Favor Delivery (United States), Fiverr (Israel), Freelancer (Australia), Guru.com (United States), Handy (United States), HopSkipDrive (United States), Rover (United States) and TaskRabbit (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Turo (United States), Twago Enterprise (Germany) and Upwork (United States).
Segmentation Overview
AMA Research has segmented the market of Global Gig Economy Platforms market by Type (APP-based and Website-based) and Region.
On the basis of geography, the market of Gig Economy Platforms 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). If we see Market by By End User, the sub-segment i.e. Household Use will boost the Gig Economy Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By Industry Vertical, the sub-segment i.e. Freelancer will boost the Gig Economy Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing technological advancement and adoption of technology, growing adoption of gig economy platforms, An increase in on-demand gig economy platforms comes with increased productivity and efficiency for companies that provide conventional full-time employment lacked and Gig workers receive traditional stability with the use of the gig economy platform
Market Growth Drivers:
An increase in demand for gig economy platforms due to their unique employment relationship upends the traditional ways of working in many ways and Gig economy platform provides higher flexibility in terms of the work they can choose and the hours they dedicate
Challenges:
Dependent employment and non-employer businesses are affected by some third factors omitted and Lack of regulation to control platforms enabling gig work
Restraints:
Risk of dominant players engage in anticompetitive practices to limit competition for the market and Risk of inefficiencies or consumer harm associated with the emergence of dominant platforms
Opportunities:
Development of the gig economy platform in the developing countries to reduce unemployment problem in emerging countries and Development of technology infrastructure in the emerging economies
Market Leaders and their expansionary development strategies
In March 2022, Digital payments firm PhonePe has acquired GigIndia, a marketplace for gig workers. This is intended to strengthen its offerings to corporate and enterprise partners.
In December 2020, DoorDash and Pay fare announced the launch of the DasherDirect platform, a banking solution for DoorDash delivery drivers (Dashers) offering a Business Prepaid Visa Card and mobile banking app. This marks DoorDash's first-ever financial platform for Dashers, providing them with exclusive new rewards and more flexibility and control over their earnings. This launch is part of DoorDash's Main Street Strong Pledge to empower local communities, which includes enabling Dashers to achieve greater financial empowerment and meet their professional goals.
Key Target Audience
Industrial Associations, Technological Platform Providers, Government Bodies, Freelancers Community and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.