Temporary Labour Market Size, Share, Growth Analysis, By Type(Unskilled, Clerical), By End-User(Healthcare, Manufacturing) - Industry Forecast 2024-2031

Report ID: SQSG20N2007 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 72 | Figures: 75

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Temporary Labour Market size was valued at USD 476406.4 million in 2019 and is poised to grow from USD 505100.784 million in 2023 to USD 768134.5 million by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

As part of the attempts to obtain a competitive advantage in the market, the corporations are focused on the development of new goods and services. Market incumbents are forging strategic alliances and conducting mergers and acquisitions to expand their businesses and improve their market position globally. These firms are developing new goods and services in order to get a competitive advantage in the industry. ManpowerGroup Inc., has introduced IntelliReach, which will digitalize management tools. 'ManpowerGroup', 'Adecco Group', 'Randstad', 'Kelly Services', 'Allegis Group', 'Hays plc', 'Robert Half', 'Recruit Holdings', 'Staffline Group', 'Synergie', 'Amadeus FiRe AG', 'PeopleReady', 'Labor Ready', 'Gevity', 'TrueBlue', 'Express Employment Professionals', 'Aquent', 'The Select Group', 'Aerotek', 'Volt Information Sciences'

The growing need for temporary IT workers is propelling market expansion. Additionally, the benefits of lower hiring costs, as well as savings on employee benefits and training costs, are fueling market expansion.

Enterprises frequently suffer a labour shortage, particularly during peak seasons or other emergencies. During such times, businesses often turn to temporary labour services. Furthermore, as technology advances, the demand for people with particular talents in design engineering, digital marketing, and software application, among others, grows. Temporary employees can assist companies in filling this need. Rising transportation and logistics demand is driving the expansion of the targeted market. Temporary employees have more options in terms of the organisation they wish to work.

Europe dominated the market in 2021. The region's market is expanding due to increased need for temporary labour in the car manufacturing industry. It will continue to develop as the number of small and medium-sized firms (SMEs) in the region grows, and many SMEs choose to hire temporary workers to decrease recruiting expenses.

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Global Temporary Labour Market

Product ID: SQSG20N2007