Aggregate of Freelance Economy Statistics

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Aggregate of Freelance Economy Statistics

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MOST COMMONLY USED STATS

• The freelance economy is a $5.4 trillion dollar market (SIA) – “ The global gig economy posted an estimated $5.4 trillion in revenue in US dollars during 2021″.

• 12% of the global labor force is participating in online freelance work. (Working Without Borders: The Promise and Peril of Online Gig Work)

• NASA Company KPI’s:
  • Skills of freelancers have met or exceeded expectations in 92% of projects
  • 80% Cost Savings
  • Traditional procurement for NASA and other US federal agencies takes on avg 9-12 months, with NASA’s current contract with gig platforms, the whole process for a specific assignment can be completed within 3-4 weeks. (What drives demand for online gig workers? NASA’s drive for innovation)
• 33 million people performed contingent work in the US last year (SIA), 86.5 MIL. Of the US workforce will be independent freelancers by 2027 (STATISTA)

• global  freelance platforms market size  was valued at  USD 4.39 billion in 2022 and  expected to grow at a compound annual growth rate (CAGR) of 16.5% from 2023 to 2030

• 33% of  work was being performed by external workers (MIT Sloan Management Review and Deloitte, 2023)

• 86% of global business leaders said the effective management of external contributors was critical to their organization’s overall performance (MIT Sloan, April 2023)

• 90% of leaders are prioritizing independent workers (HARVARD BUSINESS REVIEW)

• In Q4 of 2022, 40% of companies are hiring contractors to replace laid off workers and 53% moved full-time workers to contract positions (RESUME BUILDER).
• 27% YoY Growth in $100k+ freelancers, MBO Partners
• 51% of freelancers say no amount of money would convince them to return to a traditional job

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