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Freelance Platforms Market Growth, Industry Trends, Size, Key Drivers, Top Players And Forecast To 2032
Freelance Platforms Market Analysis
The Business Research Company's Freelance Platforms Global Market Report 2023 identifies increasing adoption of freelance platforms by established companies as the major driver for the freelance platforms market's growth in the forecast period. 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.
The global freelance platforms market size 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 global freelance platforms market size is expected to reach $11.70 billion in 2027 at a CAGR of 16.01%.
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Major competitors 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.
A key trend in the freelance platforms market includes product innovations. 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.
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The freelance platforms market is segmented -
1) By Type: Cloud-based, Web-based
2) By Product Type: Hourly, Monthly
3) By Application: Large Enterprises, Small and Medium Enterprises, Freelancers
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the freelance platforms market.
The Business Research Company's "Global Freelance Platforms Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Freelance Platforms Market Include:
1. Executive Summary
2. Freelance Platforms Market Characteristics
3. Freelance Platforms Market Trends And Strategies
4. Freelance Platforms Market - Macro Economic Scenario
5. Freelance Platforms Market Size And Growth
………
26. Africa Freelance Platforms Market
27. Freelance Platforms Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Freelance Platforms Market
29. Freelance Platforms Market Future Outlook and Potential Analysis
30. Appendix
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