The Contingent Workforce Management Market Reach USD 465.2 Trillion by 2031 Growing at 10.5% CAGR

Rising population, increasing demand for flexible workforces, shifting demographics, and labor force participation rates drive the market growth.

WILMINGTON, DE, UNITED STATES, January 23, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Contingent Workforce Management Market Reach USD 465.2 Trillion by 2031 Growing at 10.5% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global contingent workforce management market was valued at $171.5 billion in 2021, and is projected to reach $465.2 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 280 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A31395

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.

The global contingent workforce management market is segmented on the basis of type, end user, and region. By type, the market is divided into permanent staffing and flexible staffing. By end user, the market is classified into 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, real estate and rental leasing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The contingent workforce management market is segmented into Type and End-suer Industry.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A31395

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.

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.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A31395

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.

The key players profiled in the contingent workforce management market forecast report include Avature, Beeline, BOWEN Group, Impartx, Coupa Software Inc, SAP SE, CXC Global, Magnit, Ramco Systems, and Zeel Solutions Ltd.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (280 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/contingent-workforce-management-market/purchase-options

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.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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