Scope of the Report
The report titled “The US Freelancer Market: Size, Trends & Forecasts (2019-2023)” provides an in-depth analysis of the US freelancer market in terms of volume, segments, regions, type of employment and annual gross volume (AGV).
Under competitive landscape, the general competitive scenario of the global freelancer market has been descried qualitatively. This is followed by qualitative analysis of project based freelance players, on-demand freelance players and freelance management systems.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall US freelancer market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Fiverr International Ltd., Upwork Inc., Freelancer Limited and Toptal LLC are some of the major players operating in the US freelancer market whose company profiling has been done in this report. In this section of the report, business overview, financial overview and business strategies of the companies have been provided.
Fiverr International Ltd
Freelancer, freelance worker and gig worker are terminologies are used frequently for a person who is self-employed. It is in no way necessary for freelancers to be committed to a particular employer for a long-term. Freelancing platforms are used by businesses and independent professionals to connect and collaborate with clients are located in remote locations. Many a times, freelance workers are represented by a company or a temporary agency that resells freelance labor to clients. Others work independently or use professional associations or websites in order to get work.
The gig economy/ freelancer market can be split according to the type of services a freelancer provides. The four types of services are asset sharing services, transportation services, professional services and handmade goods, households and miscellaneous services (HGHM). Web, mobile, software development, design, writing, translation, market research, consulting, admin support are few examples of services out of many that are offered through freelancing.
The US freelancer market is expected to showcase a growing trend over the years (2019-2023). The market is supported by various growth drivers such as desire of working professionals to have control over flexibility and independence, upsurge in cost of living in the US forcing people to look for additional income sources, benefits to employers and widening educational gap contributing to hiring of freelancers in larger numbers. The freelancer market is also confronted by challenges such as unpredictability in generation of income, deadline pressures and cost of training.
Greater adoption of freelancing by youngsters, growing popularity of online freelancing, scope of artificial intelligence (AI) in freelancing and incorporation of portable benefits such as retirement benefits, health insurance etc. are some of the latest trends existing in the freelance market in the US that have been captured in this report.
1. Executive Summary
2.1 Freelancer: An Overview
2.2 Types of Freelance Services
2.3 List of Services offered through Freelancing
2.4 Advantages and Disadvantages of Freelancing
3. The US Market Analysis
3.1 The US Freelancer Market: An Analysis
3.1.1 The US Freelancer Market by Volume
3.1.2 The US Freelancer Market Volume by Segments
3.1.3 The US Freelance Independent Contractors Market by Volume
3.1.4 The US Freelance Diversified Workers Market by Volume
3.1.5 The US Freelance Moonlighters Market by Volume
3.1.6 The US Freelance Temporary Workers Market by Volume
3.1.7 The US Freelance Business Owners Market by Volume
3.1.8 The US Freelancer Market Volume by Region (South, West, Midwest and North East)
3.1.9 The US Freelancer Market by Type of Employment
3.1.10 The US Freelancer Market by Annual Personal Income
3.1.11 The US Freelancer Market by Annual Gross Volume (AGV)
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Control over Flexibility and Independence
4.1.2 Upsurge in Cost of Living
4.1.3 Benefits to Employers
4.1.4 Educational Gap contributing to Greater Hiring of Freelance Workers
4.2.1 Unpredictability in the Generation of Income
4.2.2 Deadline Pressures
4.2.3 Cost of Training
4.3 Market Trends
4.3.1 Hike in Adoption of Freelancing Activities by Youngsters
4.3.2 Growing Popularity of Online Freelancing
4.3.3 Portable Benefits
4.3.4 Scope of Artificial Intelligence in Freelancing
5. Competitive Landscape
5.1 Global Online Freelancer Market: Competitive Landscape
5.1.1 General Competitive Scenario
5.2 Online Staffing and Management Platforms by Type
5.2.1 Global Project Based Freelancing Players
5.2.2 Global On-Demand Freelancing Players
5.2.3 Freelancer Management Systems
6. Company Profiles
6.1 Fiverr International Ltd.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategy
6.2 Upwork Inc.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategy
6.3 Freelancer Limited
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategy
6.4.1 Business Overview
6.4.2 Business Strategy
List of Figures
Figure 1: The US Freelancer Market by Volume; 2014-2018 (Million)
Figure 2: The US Freelancer Market by Volume; 2019-2023 (Million)
Figure 3: The US Freelancer Market Volume by Segments; 2018 (Percentage,%)
Figure 4: The US Freelance Independent Contractors Market by Volume; 2014-2018 (Million)
Figure 5: The US Freelance Independent Contractors Market by Volume; 2019-2023 (Million)
Figure 6: The US Freelance Diversified Workers Market by Volume; 2014-2018 (Million)
Figure 7: The US Freelance Diversified Workers Market by Volume; 2019-2023 (Million)
Figure 8: The US Freelance Moonlighters Market by Volume; 2014-2018 (Million)
Figure 9: The US Freelance Moonlighters Market by Volume; 2019-2023 (Million)
Figure 10: The US Freelance Temporary Workers Market by Volume; 2014-2018 (Million)
Figure 11: The US Freelance Temporary Workers Market by Volume; 2019-2023 (Million)
Figure 12: The US Freelance Business Owners Market by Volume; 2014-2018 (Million)
Figure 13: The US Freelance Business Owners Market by Volume; 2019-2023 (Million)
Figure 14: The US Freelancer Market Volume by Region; 2018 (Percentage,%)
Figure 15: The US Freelancer Market by Type of Employment; 2014 and 2018 (Percentage,%)
Figure 16: The US Freelancer Market by Annual Personal Income; 2014 and 2018 (Percentage,%)
Figure 17: The US Freelancer Market by AGV; 2018-2023 (US$ Billion)
Figure 18: Top Reasons for Choosing Freelancing by Full and Part Time Freelancers; 2018 (Percentage,%)
Figure 19: Cost of Living in the US; 2015-2018 (US$ Thousand)
Figure 20: Proportion of Workers in Each Age Group who Freelance; 2018 (Percentage,%)
Figure 21: Proportion of Online Freelancers; 2014 and 2018 (Percentage,%)
Figure 22: Percentage of Freelancing Work obtained Online in 2018 compared to 2017
Figure 23: Fiverr International Revenues; 2017-2018 (US$ Million)
Figure 24: Fiverr International Revenues by Region; 2018 (Percentage,%)
Figure 25: Upwork Revenues; 2016-2018 (US$ Million)
Figure 26: Upwork Revenue by Source of Revenue; 2018 (Percentage,%)
Figure 27: Freelancer Limited Revenues; 2014-2018 (US$ Million)
Figure 28: Freelancer Limited Revenues by Segments; 2018 (Percentage,%)
Table 1: Types of Freelance Services
Table 2: List of Various Services provided via Freelancing
Table 3: Advantages of Freelancing
Table 4: Disadvantages of Freelancing
Table 5: Global Project Based Freelancing Players
Table 6: Global On-Demand Freelancing Players
Table 7: Freelancer Management Systems
Table 8: Fiverr Product Portfolio
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.