About Freelance Platforms
The freelance economy is rising and platforms intermediating freelance workforce are being progressively utilized in various organizations. The freelance market is booming especially in high-skilled services, software development, web designers, and among others which facilitate talented freelance professionals to charge higher prices than they would earn in usual full-time employments. Therefore, an increasing number of highly skilled individuals work as freelancers have increased the demand for freelance platforms that enables them to connect freelancers with various businesses. Freelance platforms are used for billing, time tracking, and task management activities. The rising number of freelance workers globally has boosted the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
Freelance platforms market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. 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.
Fiverr (Israel), Upwork (United States), Freelancer.com (Australia), Envato Studio (Australia), PeoplePerHour (United Kingdom), Toptal (United States), Guru.com (United States), DesignCrowd (Australia), Nexxt (United States), DesignContest (United States), TaskRabbit (United States), CrowdSPRING (United States) and Dribbble Hiring (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are WriterAccess, 99Designs (Australia), Catalant (United States), Designhill (India), Skyword (United States), Bark.com (United States) and Gigster (United States).
Segmentation Overview
AMA Research has segmented the market of Global Freelance Platforms market by Type (Cloud Based and Web Based), Application (Large Enterprises and SMEs) and Region.
On the basis of geography, the market of Freelance 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 End Users, the sub-segment i.e. Personal will boost the Freelance Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Freelance Type, the sub-segment i.e. Short Term will boost the Freelance Platforms market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of Large Online Labor Platforms
Market Growth Drivers:
Increasing Number of Freelance Workers and Rising Demand for Freelance Platforms by IT Professionals
Challenges:
Trust Issue of Hiring Sourcing Contract Workers through Freelance Platforms
Restraints:
Data Privacy Concern
Opportunities:
Demand from High-Skilled Freelancers in Emerging Countries, Increasing Use of Freelance Platforms for Completing Short-Term Projects and Ease to Hire Freelancers Irrespective of their Location
Market Leaders and their expansionary development strategies
In May 2023, Fiverr acquired Stoke Talent, start-up worked on freelance management tools for employers for USD95 million. This acquisition helped company to expand its presence in freelance platforms market
In February 2020, Indiez, a platform for hiring freelance coders was acquired by CrewScale, a remote talent-hiring service company. With this acquisition, CrewScale is able to have the software-as-a-service product in the remote workspace.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Freelance Platforms Providers, Cloud Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
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.