About Crowdsourcing Platforms-
Crowdsourcing Platform is device is to design the use of an on-line crowdsourcing platform. Such systems are used to host communities that reply to particular challenges through submitting insights, thoughts or enterprise propositions for new merchandise and services. Crowdsourcing generally entails amassing work, data, or private views from a massive team of humans disclosing their data over the internet, social networks, cell applications, and others. Moreover, crowd sourcing is a technique of proposing a crew of human beings with a frequent intention of amassing expertise for special purposes, such as creativity, problem-solving, and productivity. This mechanism presents businesses with availability to new and modern ideas, broader purchaser relationship, and potentialities for collaborations, optimized activities, and fee savings.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Crowdsourcing 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.
OpenIdeo (United States), Elance (United States), MicroWorkers (United States), CrowdSPRING (United States), DesignCrowd (Australia), Idea Bounty (South Africa), 99Designs (Australia), Innocentive (United States), Cad Crowd (Canada) and Mechanical Turk (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Crowdsourcing Platforms- market by Type (Data Annotation, Image Transcribing, Graphic and Product Design and Others) and Region.
On the basis of geography, the market of Crowdsourcing 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 Organization Size, the sub-segment i.e. Large Enterprises will boost the Crowdsourcing Platforms- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Open Services Platform will boost the Crowdsourcing Platforms- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Non-Profit Organization will boost the Crowdsourcing Platforms- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Crowdsourcing Platforms- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integrating Artificial Intelligence (AI) into Crowd Sourcing Platforms
Market Growth Drivers:
Growth in Demand for Crowd-sourcing Applications
Challenges:
Maintaining Quality
Restraints:
Lower Consumer Penetration in Rural Areas, owing to Weak Internet & Social Knowledge
Opportunities:
Increased Demand in Emerging Markets
Market Leaders and their expansionary development strategies
In February 2021, DesignCrowd invested 7.6 billion USD in pre-IPO funding. This funding is used to hire experts and develop new products to accelerate the growth of BrandCrow. This investment helped company to expand its presence in crowdsourcing platforms market
In 2021, 99designs by Vistaprint Launches Program to Empower 99 Small Businesses around the Globe with Funds & Resources. The 99 Days of Design initiative is part of Vistaprint’s larger goal to be a true partner to small businesses by providing the tools and expert creative help they need to reach their goals.
Key Target Audience
Provider, Venture Capitalists and Private Equity Firms, Government Bodies, Corporate Entities, Government and Private Research Organizations 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.