Global Freelance Platform Market
Introduction
Freelance platform(s) can be considered multi-sided platforms (MSP) since they provide technology, product, or service that creates value by enabling direct interactions between two or more different sides, i.e., in this case, between freelancers and clients.
Freelance platforms typically consist of three key actors: platform owners who provide the infrastructure for intermediating work, freelance workers who undertake and submit work for compensation, and buyers who require tasks to be completed for compensation.
Global Market Overview
In 2020, the Global Freelance Platform Market was valued at $3,812.45 million ($3.81 billion).
In 2021, the Global freelance platform market has been estimated to be valued at $4,430 million ($4.43 billion) and is expected to increase and reach approximately $12,010.42 million ($12.01 billion) by 2028.
During the forecast period 2021-2028, the Global Freelance Platform Market is estimated to grow at an approximate CAGR of 15.4%.
Top Global Freelance Platform Companies
Market Segmentation
Global Freelance Platform Market Share, By Application/ End Users
Based on Application, the market is bifurcated into Freelancers, Large Enterprises, and Small and Medium Enterprises. Freelancers accounted for 37% market share in 2021, followed by SMEs/ SMBs with 28% market share.
The Freelancers and SMEs/ SMBs together are estimated to hold a market worth $2879.50 million ($2.87 billion) of the global freelance platform market.
Global Freelance Platform Market Share, By Geography
Based on regional analysis, North America holds the largest market share of approximately 40%, followed by Europe with a 30% market share.
Over the projected period, North America, especially the U.S. and Canada hold a dominant share in the global freelance platforms market.
Global Freelance Platform Market Share, By Top Companies
As of 2020, according to the revenue generated by the top freelancers’ platform, Upwork was the most popular freelance platform with a major market share of 9.8%.
Toptal was accounted for a 7.9% market share followed by Fiverr with a 5% market share.
Data Sources: Statista, Verified Market Research, PR Newswire, MacroTrends, and others
To know more about the Freelance market in detail please Contact Now
Read more Market Reports