Online Freelance Market Size, Share, Growth Analysis, By Application(Freelancer, Large enterprises, Small & medium enterprises), By Type(Web-based annd Cloud-based), By Region - Industry Forecast 2024-2031

Online Freelance Platforms Market size was valued at USD 1.95 trillion in 2022 and is poised to grow from USD 2.19 trillion in 2023 to USD 5.63 trillion by 2031, at a CAGR of 12.5% during the forecast period (2024-2031).

Key market players are focusing on growing their customer base in order to gain a competitive advantage. As a result, key players are adopting variety of strategic initiatives, such as mergers & acquisitions and partnerships. For example, Upwork announced the launch of Talent Scout, a recruiting solution. Also, Fiverr announced the acquisition of freelance management platform, Stoke Talent for USD 95 million. 'Upwork Inc.', 'Freelancer.com', 'Fiverr International Ltd.', 'Toptal LLC', 'PeoplePerHour Ltd.', 'Guru.com', '99designs Pty Ltd.', 'Simply Hired Inc.', 'Task Rabbit Inc.', 'Designhill Inc.', 'Nabbesh FZ LLC', 'Truelancer.com', 'Hirable Ltd.', 'Textbroker International LLC', 'Skyword Inc.', 'Aquent LLC', 'DesignCrowd Pty Ltd.', 'WriterAccess LLC', 'OnSite.io', 'Crowdspring LLC', 'In March 2024, Qonto, a Europe-based business finance solution for SMEs and freelancers, announced its plan to acquire France-based fintech, Regate. ', 'In October 2023, FinTech startup Vlorish launched its freelancer finance platform, aiming to simplify bookkeeping, budgeting and credit scoring models for the freelance market. ', 'In September 2023, Wishpond Technologies Ltd., a provider of marketing-focused online business solutions, announced a partnership with Fiverr International Ltd., the company who is changing how the world works together, to be part of its Fiverr Certified program and create a unique and certified freelance marketplace for the Propel IQ platform. ', 'In June 2021, Freelancer.com collaborates with the Bureau of Reclamation and NASA to improve the reliability of hydroelectric systems. ', 'In February 2021, Skyword partnered with Seismic, a leading sales enablement solution and marketing orchestration platform provider. '

Increasing number of women in online freelancing industry is one of the major factor that driving the online freelance market worldwide. Working online from home allows brave, self-assured women to deny traditional expectations. Online freelancing becomes popular among women who cannot leave home due to personal reasons. A recent Payoneer analysis found that one out of every five freelancers is a woman.

Getdone is a blockchain-based platform is used in the freelancing industry is a key trend in online freelance market. It connects globally trusted freelancers in the blockchain industry. Believing in the future of business, technology, and innovation, Getdone is used in all the industry and also centralized on the blockchain industry. It is a comprehensive application that offers a wide range of blockchain freelancers so that clients can find any freelancer to take their jobs as a web/app developer, translator, copywriter, designer, internet marketer or community manager.

On the basis of region, market is divided into, North America, Europe, Asia-Pacific, Latin America, and MEA. North American economies, especially the US and Canada, account for a large share of the online freelance market in 2022. It is mainly due to changes in work culture, company policy and balanced work culture among them. In North America, the work culture is largely balanced, with hourly rates. US freelancers have a $1.4 trillion economic impact and are expected to make up the majority of US employment within a few years due to steady growth in the number of qualified individuals. According to a Bloomberg survey, Google had more than 102,000 permanent employees on payroll as of March 2019. But interestingly, it had more than 120,000 freelancers working on contract basis.