Rising population, increasing demand for flexible workforces, shifting demographics, and labor force participation rates drive the growth of the global contingent workforce management market.
PORTLAND, Ore., March 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Contingent Workforce Management Market By Type (Permanent Staffing, Flexible Staffing), By End-user Industry (IT and Telecom , BFSI , Healthcare , Manufacturing- Automotive, Business/Professional Service, Retail trade, Pharma/biotech/medical equip, Manufacturing- Consumer Products, Government (Excluding Education), Transportation/warehousing/packaging, Manufacturing-Others, Real Estate and rental leasing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global contingent workforce management industry generated $171.5 trillion in 2021 and is estimated to reach $465.2 trillion by 2031 witnessing a CAGR of 10.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities:
Rising population, increasing demand for flexible workforces, shifting demographics, and labor force participation rates drive the growth of the global contingent workforce management market. On the other hand, workers are likely to have difficulty incorporating into the organization and may suffer from low morale. Also, contingent workforce management lack commitment to the organization when compared to core workers. These factors restrict market growth to some extent. However, the emergence of AI will present new growth opportunities for the global contingent workforce management market in the coming years.
Download Sample Report:
https://www.alliedmarketresearch.com/request-sample/31845
COVID-19 Scenario:
- The COVID-19 pandemic had a negative impact on the contingent workforce management industry because of the layoffs in various companies. Social distancing norms and closed borders, due to the pandemic, across various countries such as China, India, and the U.S. affected the global market.
- With a large increase in remote work, the demand for a contingent workforce increased dramatically. Workforce management was one of the measures employed by businesses to minimize the effects of the COVID-19 pandemic.
- Businesses are concentrating on workforce flexibility and delivering more remote work options to employees in the aftermath of the COVID-19 pandemic, and some of these methods are likely to become permanent in the coming years.
The flexible staffing segment to dominate in terms of revenue during the forecast period:
Based on type, the flexible staffing segment contributed to the largest share of nearly four-fifths of the global contingent workforce management market in 2021 and is expected to maintain progressive growth during the forecast period. HR departments and other departments use a contingent workforce instead of hiring permanent employees to solve changing business and operational challenges. However, the permanent staffing segment is projected to witness the fastest CAGR of 11.9% from 2022 to 2031. Permanent staffing refers to the process of supplying essential individuals for long-term employment based on predefined candidate criteria.
Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/checkout-final/83e7684e478323bef280e6274004af72
The business/professional Service segment is projected to witness the fastest growth rate:
Based on end-user industry, the IT and telecom segment is expected to rule the roost during the forecast period. However, the business/professional Service segment is projected to witness the fastest CAGR of 14.1% from 2022 to 2031. The term "business/professional service" is broad and encompasses a wide range of businesses. Professional services can include any responsibilities that a business owner might need to outsource in order to devote more time to their top priorities. The report also analyzes BFSI, healthcare, manufacturing-Automotive, business/ professional service, retail trade, pharma/biotech/medical equipment, manufacturing-consumer products, government (excluding education), transportation/warehousing/packaging, Manufacturing-others, real estate and rental leasing segments.
North America garnered the major share in 2021:
Based on region, North America garnered the highest share in 2021, accounting for more than half of the global contingent workforce management market revenue and is expected to rule the roost during the forecast period. The segment is driven by rapid industrialization, and rising labor force participation, which has increased the demand for flexible workforces from businesses in a variety of industries, including the healthcare, IT and telecom, manufacturing, and retail sectors in North America region. On the other hand, Asia-Pacific region is projected to witness the fastest CAGR of 15.1% from 2022 to 2031. This is due to most IT companies based in the Asia-Pacific region hiring employees as a contingent workforce.
Enquiry Before Buying:
https://www.alliedmarketresearch.com/purchase-enquiry/31845
Leading Market Players:
- PRO Unlimited Inc.
- cxc global
- the bowen group
- Ramco Systems Ltd.
- SAP SE
- Coupa Software Inc.
- IMPARTX
- avature, Beeline
- Zeel Solutions Ltd.
Trending Reports in ICT & Media Industry:
Revenue Cycle Management Market Expected to Reach $367.7 Billion by 2031
Intelligent Network Market Expected to Reach $34.1 Billion by 2031
Low-Code Development Platform Market Expected to Reach $125.6 Billion by 2031
Hyperconnectivity Market Expected to Reach $2207.9 Billion by 2031
Software Defined Perimeter Market Expected to Reach $143.1 Billion by 2031
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web:https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media
Follow Us on Blog: https://www.technologyplz.com/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/contingent-workforce-management-market-to-reach-465-2-trillion-globally-by-2031-at-10-5-cagr-allied-market-research-301760775.html
