The on-demand staffing platform market size is projected to reach US$ 577.9 million by 2031 from US$ 185.83 million in 2023. The market is expected to register a CAGR of 15.2% during 2023–2031. Automation in the hiring process is likely to remain a key trend in the market.
On-Demand Staffing Platform Market Analysis
On-demand staffing eliminates these challenges by providing instant access to pre-screened and qualified professionals. Companies can save considerable resources and resources by avoiding the lengthy hiring process. Additionally, on-demand staffing allows businesses to engage talent on an as-needed basis, reducing labor costs and avoiding the burden of full-time salaries and benefits. This cost-effectiveness makes on-demand staffing an attractive solution for both startups and established enterprises.
On-Demand Staffing Platform Market Overview
On-demand staffing is a dynamic approach that allows companies to quickly locate qualified and flexible talent when they need it the most. One of the primary advantages of on-demand staffing is the unprecedented level of flexibility it offers. Companies can rapidly increase their workforce based on their current requirements. On-demand staffing is particularly useful when companies have specific and niche requirements. It is difficult to locate professionals who possess extensive knowledge or expertise for short-term projects or temporary assignments. However, on-demand staffing platforms bring together a diverse pool of talent with varied skill sets, ensuring that companies can quickly find the right person for the job.
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On-Demand Staffing Platform Market: Strategic Insights
Market Size Value in US$ 168.48 Million in 2022 Market Size Value by US$ 386.24 Million by 2028 Growth rate CAGR of 14.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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On-Demand Staffing Platform Market: Strategic Insights
| Market Size Value in | US$ 168.48 Million in 2022 |
| Market Size Value by | US$ 386.24 Million by 2028 |
| Growth rate | CAGR of 14.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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On-Demand Staffing Platform Market Drivers and Opportunities
Increasing Need for Staffing Across Various Industries to Favor Market
BFSI has evolved into a highly competitive industry that needs to constantly adapt to the changing market and cater to clients more effectively. The BFSI industry is witnessing a higher demand for better systems and software to handle the workload and a rising demand for competent or proficient individuals to manage these systems. Thus, the BFSI industry is opting for staffing and recruitment solutions to fulfill such needs. The banking sector in the UAE has started hiring new employees on a large scale. According to the Central Bank of UAE (CBUAE), the number of banking staff increased by 738 employees at the end of December 2021 compared to Q3 2021. According to the Ministry of Labour's Civil Service and Government Development Bureau (CSGDB) recruitment statistics, 7,127 positions were created in 2022 for Qatar nationals in government and commercial sectors. The healthcare sector is witnessing continuous growth due to increasing health awareness, affordable and accessible healthcare facilities, an aging population, growing health concerns, and changing attitudes toward preventive healthcare. Healthcare is among the sectors that require employees in huge volume. Staffing and recruitment solutions play an essential role in the healthcare industry by providing qualified staff and ensuring the facility has the right personnel for the job. According to the National Skilled Network, as of August 2023, the demand for a skilled healthcare workforce in India has surged to unprecedented levels, with projections indicating the creation of over 100,000 new jobs in the coming year.
Adoption of AI Technology in Hiring
AI will significantly reduce the amount of time you spend searching for resumes or screening applicants, making it easier for you to complete the interview process faster – without sacrificing the quality of candidates. AI can play a major role. AI can become an assistant to recruiters. The use of scheduling software ensures that your work is completed smoothly without wasting your entire day. Chatbots and automated messaging services are becoming increasingly popular in the field of employment. These can reduce the tedious task of sending emails and messages. AI will significantly reduce the amount of time you spend searching for resumes or screening applicants, making it easier for you to complete the interview process faster – without sacrificing the quality of candidates.
On-Demand Staffing Platform Market Report Segmentation Analysis
Key segments that contributed to the derivation of the on-demand staffing platform market analysis are deployment and enterprise size.
- Based on the deployment, the on-demand staffing platform market is divided into on-premise and cloud-based.
- In terms of enterprise size, the market is segmented into small & medium enterprises and large enterprises.
On-Demand Staffing Platform Market Share Analysis by Geography
The geographic scope of the on-demand staffing platform market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The industry that witnessed the most significant growth in formal jobs in Mexico is transportation and communications. According to Mexico's Social Security Institute (IMSS), as of November 2022, with 207,968 new positions created in the formal sector in October, Mexico's overall number of formal jobs reached 21.6 million as of October 2022. This was the most significant monthly rise in the sector's history. Despite the financial setback, the average daily wage showed an increase of 11.1% from October 2021, and the employment rate now is 4.87% greater than it was before the COVID-19 pandemic, according to IMSS. Thus, with the increase in formal jobs, the need for ron-demand staffing is increasing, which is propelling the growth of the market.
On-Demand Staffing Platform Market Report Scope
On-Demand Staffing Platform Market News and Recent Developments
The on-demand staffing platform market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the on-demand staffing platform market are listed below:
- ShiftMed, a provider of on-demand workforce technology, announced today its acquisition of CareerStaff Unlimited from Genesis HealthCare (Genesis), a national post-acute care provider. CareerStaff is one of the healthcare industry’s leading per diem and contract-managed service providers (MSP). ShiftMed, in combination with CareerStaff, will provide services to Genesis at over 200 skilled nursing and 1,200 Powerback Rehabilitation locations, under a seven-year exclusive agreement. (Source: ShiftMed, April 2024)
- ShiftMed, the first on-demand workforce platform delivering scalable, cost-efficient, and sustainable labor to in-home, acute, and post-acute care providers, is proud to announce that its network of credentialed healthcare professionals has surpassed 100,000. Available in more than 110 markets across the United States, ShiftMed is uniquely positioned to provide scalable labor solutions, reduce labor costs and help simplify the industry’s workforce model.
(Source: Ontario Municipal Corp., August 2022)
On-Demand Staffing Platform Market Report Coverage and Deliverables
The “On-Demand Staffing Platform Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- On-demand staffing platform market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- On-demand staffing platform market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- On-demand staffing platform market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the on-demand staffing platform market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment, and Enterprise Size
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the on-demand staffing platform market in 2023.
The increasing need for staffing across various industries is the major factors that propel the global on-demand staffing platform market.
Automation in the hiring process to play a significant role in the global on-demand staffing platform market in the coming years.
The leading players operating in the global on-demand staffing platform market are Appjobs Sweden AB, Graphite Solutions, Inc., Hire an Esquire, Inc., Instawork, MyWorkChoice, QWICK, INC., Snagajob, Traba, Ubeya, and Wonolo Inc..
The global on-demand staffing platform market is expected to reach US$ 577.9 million by 2031.
The market is expected to register a CAGR of 15.2% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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