Gig Economy Platforms Market Report 2024 (Global Edition)

Global Gig Economy Platforms Market Report 2024 Market Size Split by Type (APP-based, Website-based), by Application (Freelancer, Independent Contractor, Project Worker, Part-Time, Other), by Service ...

Gig Economy Platforms Market Report Description

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Gig Economy Platforms Market Insights Video

Competitive Landscape of the Gig Economy Platforms Market

In the Gig Economy Platforms Market 's competitive landscape, numerous key competitors are driving innovation and growth. Leading market participants are working together by forming alliances with other businesses in an attempt to maintain their competitive edge. In an effort to broaden their product offerings, numerous businesses are also investing in the introduction of new products. Market rivalry is encouraging technological and design innovations to create Gig Economy Platforms that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In October 2024, Uber has announced a strategic partnership with ENSO, a finalist for The Earthshot Prize, to introduce low-emission and range-extending electric vehicle tires in the United Kingdom and the United States. Uber, a Founding Partner of The Earthshot Prize, is committed to climate solutions and will provide drivers with discounted ENSO tires. Additionally, ENSO is in the process of constructing a $500 million tire factory in the United States that is carbon-neutral. This partnership is designed to expedite the transition to an all-electric future and is announced in advance of Uber's climate event in London. (Source: https://www.uber.com/newsroom/enso/) In February 2024, The Robinhood Retirement for Independent Workers program, which was jointly introduced by Taskrabbit and Robinhood, provides contract economy workers with a conventional approach to retirement savings. Greenpath Financial Wellness will provide taskers with financial guidance and an enhanced match on IRA contributions. This partnership is consistent with Robinhood's objective of offering financial tools to all individuals and Taskrabbit's mission to assist independent workers. The initiative will enhance the capacity of Taskrabbit, Grubhub, and Gopuff employees to invest in their futures, thereby benefiting them. (Source: https://www.taskrabbit.com/press/release/taskrabbit-introduces-robinhood-retirement-program-for-taskers) In August 2024, AutoDS, a prominent dropshipping automation application, was acquired by Fiverr. This acquisition enhances synergies to expedite growth and introduces a new subscription-based revenue stream to Fiverr. AutoDS, which was established in 2018, offers dropshippers comprehensive solutions that encompass automated fulfillment, inventory administration, and product research. Fiverr's platform is improved by this acquisition, which broadens its reach in the areas of e-commerce, social media marketing, website development, and dropshipping. In 2023, the global dropshipping market was valued at USD 285 billion and is anticipated to surpass USD 2 trillion by 2033. (Source: https://www.fiverr.com/news/fiverr-autods-acquisition)

Top Companies Market Share in Gig Economy Platforms Industry: (In no particular order of Rank)

• TaskRabbit (U.S.)
• BellHops (U.S.)
• Guru.com (U.S.)
• HopSkipDrive (U.S.)
• Freelancer (Australia)
• Rover (U.S.)
• Upwork (U.S.)
• Fiverr (Israel)
• DoorDash (U.S.)
• Favor Delivery (U.S.)
• Turo (U.S.)
• Twago Enterprise (Germany)
• Handy (U.S.)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Gig Economy Platforms Market

Which Region Dominates the Gig Economy Platforms Market in 2024?

According to Cognitive Market Research, North America currently dominates the Gig Economy Platforms market, and the region is expected to have significant growth during the projected period. The gig economy has grown thanks in large part to the region's highly developed internet infrastructure and entrepreneurial culture.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The region's gig economy platforms have grown rapidly due to a combination of factors such as urbanization, digital revolution, and a youthful, tech-savvy workforce.

The current report Scope analyzes Gig Economy Platforms Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Gig Economy Platforms

According to Cognitive Market Research, the global Gig Economy Platforms Market size was estimated at USD 24512.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9805.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Gig Economy Platforms Market with a market size of USD 7736.15 million in 2024 and is projected to grow at a CAGR of 18.8% during the forecast period. The U.S. market's Stringent governmental regulations against technology.
• The Canada Gig Economy Platforms Market had a market share of USD 1176.60 million in 2024 and is projected to grow at a CAGR of 19.8% during the forecast period. Canada’s rising awareness among the population.
• The Mexico Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.5% during the forecast period, with a market size of USD 892.26 million in 2024.

Europe Gig Economy Platforms

According to Cognitive Market Research, the global Gig Economy Platforms Market size was estimated at USD 24512.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 7353.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.3% from 2024 to 2031.

• The United Kingdom Gig Economy Platforms Market had a market share of USD 1235.43 million in 2024 and is projected to grow at a CAGR of 20.1% during the forecast period. In the UK, Gig Economy Platforms sales witness an upswing due to the increasing focus on implementing regulations.
• The France Gig Economy Platforms Market is projected to witness growth at a CAGR of 18.5% during the forecast period, with a market size of USD 676.55 million in 2024.
• According to Cognitive Market Research, the German Gig Economy Platforms Market size was valued at USD 1456.04 million in 2024 and is projected to grow at a CAGR of 19.5% during the forecast period. In Germany, Gig Economy Platforms surged due to the Increased focus of the manufacturers and major market players.
• The Italy Gig Economy Platforms Market is projected to witness growth at a CAGR of 18.7% during the forecast period, with a market size of USD 632.43 million in 2024.
• The Russia Gig Economy Platforms Market is projected to witness growth at a CAGR of 18.3% during the forecast period, with a market size of USD 1139.83 million in 2024.
• The Spain Gig Economy Platforms Market is projected to witness growth at a CAGR of 18.4% during the forecast period with a market size of USD 603.01 million in 2024
• The Luxembourg Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.4% during the forecast period, with a market size of USD 227.97 million in 2024.
• The Portugal Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.1% during the forecast period, with a market size of USD 154.43 million in 2024.
• The Greece Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.6% during the forecast period, with a market size of USD 88.25 million in 2024.
• The Rest of Europe's Gig Economy Platforms Market is projected to witness growth at a CAGR of 18.0% during the forecast period, with a market size of USD 1139.83 million in 2024.

Asia Pacific Gig Economy Platforms

According to Cognitive Market Research, the global Gig Economy Platforms Market size was estimated at USD 24512.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5637.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Gig Economy Platforms Market size was valued at USD 2537.04 million in 2024 and is projected to grow at a CAGR of 22.3% during the forecast period. Gig Economy Platforms surged in China due to Increased focus of the manufacturers and major market players.
• The Japan Gig Economy Platforms Market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 778.03 million in 2024.
• The India Gig Economy Platforms Market had a market share of USD 676.55 million in 2024 and is projected to grow at a CAGR of 24.6% during the forecast period. India's rising awareness among the populations .
• The South Korean Gig Economy Platforms Market is projected to witness growth at a CAGR of 21.9% during the forecast period, with a market size of USD 563.79 million in 2024.
• The Australian Gig Economy Platforms Market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 293.17 million in 2024.
• The South East Asia Gig Economy Platforms Market is projected to witness growth at a CAGR of 23.8% during the forecast period, with a market size of USD 389.01 million in 2024.
• The Rest of Asia Pacific Gig Economy Platforms Market is projected to witness growth at a CAGR of 22.6% during the forecast period, with a market size of USD 400.29 million in 2024.

South America Gig Economy Platforms

According to Cognitive Market Research, the global Gig Economy Platforms Market size was estimated at USD 24512.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 1225.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Gig Economy Platforms Market size was valued at USD 524.57 million in 2024 and is projected to grow at a CAGR of 20.8% during the forecast period. Gig Economy Platforms flourished in Brazil due to increasing demand for freelancers.
• Argentina's Gig Economy Platforms Market had a market share of USD 205.91 million in 2024 and is projected to grow at a CAGR of 21.1% during the forecast period. Argentina's rising personal disposable income .
• Colombia Gig Economy Platforms Market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD 109.08 million in 2024.
• Peru Gig Economy Platforms Market is projected to witness growth at a CAGR of 20.4% during the forecast period, with a market size of USD 100.50 million in 2024.
• Chile Gig Economy Platforms Market is projected to witness growth at a CAGR of 20.5% during the forecast period, with a market size of USD 88.25 million in 2024.
• The Rest of Latin America's Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.3% during the forecast period, with a market size of USD 197.33 million in 2024.

Middle East and Africa Gig Economy Platforms

According to Cognitive Market Research, the global Gig Economy Platforms Market size was estimated at USD 24512.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 490.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.5% from 2024 to 2031..

• The GCC Countries Gig Economy Platforms Market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 209.83 million in 2024. Gig Economy Platforms sales flourish due to the presence of major market players.
• The Egypt Gig Economy Platforms Market is projected to witness growth at a CAGR of 20.8% during the forecast period, with a market size of USD 51.48 million in 2024.
• The South Africa Gig Economy Platforms Market is projected to witness growth at a CAGR of 21.5% during the forecast period, with a market size of USD 77.46 million in 2024. Gig Economy Platforms sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Gig Economy Platforms Market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD 42.16 million in 2024.
• The Nigeria Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.6% during the forecast period, with a market size of USD 51.48 million in 2024.
• The Rest of the MEA Gig Economy Platforms Market is projected to witness growth at a CAGR of 19.5% during the forecast period, with a market size of USD 57.85 million in 2024.

Gig Economy Platforms Market Analysis

Gig Economy Platforms Market Type Segment Analysis

According to Cognitive Market Research, app-based are likely to dominate the Gig Economy Platforms Market over the forecast period. The gig economy platforms market's app-based type category consists of mobile apps that link customers to service providers for things like food delivery, ridesharing, and freelance employment. These platforms promote universal adoption and market expansion by improving user ease, enabling real-time interactions, and facilitating frictionless transactions.

The website based is the fastest-growing segment in the Gig Economy Platforms Market . The gig economy platforms market's website-based type segment is made up of websites like Upwork and Freelancer that link clients with freelancers and service providers. These websites streamline project listings, bidding, and communication, giving consumers access to a variety of talent pools and effective work arrangement management.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Gig Economy Platforms Industry. Request a Free Sample PDF!

Gig Economy Platforms Market Application Segment Analysis

According to Cognitive Market Research, the freelancers segment holds the largest share of the market. Platforms for the gig economy's freelancing sector link independent workers with companies in need of skills like writing, design, and programming. This allows for flexible work schedules and project-based engagements in a range of sectors.

In the Gig Economy Platforms Market , the independent contractor has been expanding at a rapid pace. In order to fulfill temporary demands for flexibility and access to a wide range of talent, the independent contractor market links companies with qualified individuals for project-based activities like building, maintenance, and specialized services.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Gig Economy Platforms Service Type Segment Analysis

Gig Economy Platforms Market Service Type Segment Analysis

According to Cognitive Market Research, The professional services segment holds the largest market share. In the gig economy, professional services include financial and legal help, technological support, creative services, consultancy, and administrative work. With the flexibility of this segment, organizations can enhance efficiency and agility without having to commit to full-time hiring for specific talents.

In the Gig Economy Platforms Market , the rapidly growing sector is the technical services category. In the gig economy, technical services include web design, software development, and IT support. These independent contractors provide companies with on-demand access to specialist knowledge, increasing flexibility and effectively meeting technology demands.

• Professional Services
• Technical Services
• Others

Gig Economy Platforms User Type Segment Analysis

Gig Economy Platforms Market User Type Segment Analysis

According to Cognitive Market Research, the service provider segment dominates the market. These service providers, who include independent contractors, freelancers, and small enterprises, get access to clients and projects through websites. Platforms gain a diversified talent pool and scalable workforce, while service providers profit from flexibility, autonomy, and access to a large client base.

Clients is projected to be the fastest-growing segment in the Gig Economy Platforms Market . Individuals, companies, and organizations looking for temporary or flexible services make up the customers user type section of the gig economy platforms market. By providing features like customer assistance, rating systems, and project management tools, platforms provide smooth interactions with service providers while meeting a variety of client needs.

• Service Providers
• Clients

Gig Economy Platforms Business Model Segment Analysis

Gig Economy Platforms Market Business Model Segment Analysis

According to Cognitive Market Research, the subscription-based segment dominates the market. Users of gig economy platforms pay recurrent fees to access premium services, priority assistance, or unique features as part of a subscription-based business model. This paradigm encourages ongoing development while giving platforms steady revenue streams. Improved experiences, top-notch customer care, and frequently unrestricted access to services are all advantageous to users.

Commission-based is projected to be the fastest-growing segment in the Gig Economy Platforms Market . In the gig economy platforms market, commission-based company models generate income by taking a cut of freelancers' profits, usually between 5 and 20%. This raises questions around worker classification and appropriate compensation while aligning platform incentives with freelancer performance, expediting payments and promoting quality services.

• Commission-based
• Subscription-based
• Freemium Model

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion