Contingent Workforce Management Market Growth, Size, Trends, Share, Scope and Future Outlook
Contingent Workforce Management Market Size– By Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2024 | Report ID: IACT2476 | Pages: 1 - 230 | Formats*: |
| Category : Information & Communications Technology | |||
Contingent Workforce Management Market Introduction and Overview
According to SPER Market Research, the Global Contingent Workforce Management Market is estimated to reach USD 570.39 billion by 2033 with a CAGR of 10.73%.
The report includes an in-depth analysis of the Global Contingent Workforce Management Market, including market size and trends, product mix, Applications, and supplier analysis. The methodical identification and engagement of non-permanent employees inside a corporation is known as contingent workforce management. Hiring and work assignment are included. And although managing a contingent workforce has many benefits, there are significant drawbacks as well. Though more erratic and unreliable, this workforce's flexibility allows a company to expand. The company bears the ultimate responsibility for the quality of the work produced by its contingent employees, even though customers may need to grant them fair authority over the assignment.
Market Opportunities and Challenges
Opportunities: One of the main reasons of market expansion is the growing need for flexible workforces. Rising population, changing demographics, and labor force participation rates are the main reasons driving the expansion of the global contingent workforce management market, and they are expected to continue doing so for some time. Since companies commonly use contingent workforce management to regulate the availability and skill set of their employees while also assisting them in maintaining a high level of productivity, these factors all contribute to the market expansion.
Challenges: Challenges in managing worker contingents Counterparty risk include vicarious liability stemming from inadequate labor law compliance, inherited duty resulting from deficient operational controls, and solvency risk. Many times, an organization's overall plan for its contingent workforce includes a network of direct and indirect suppliers. As a result, in regular exchanges between employers and employees, second- or third-level counterparty risks could not be present. Therefore, the expansion of the market is anticipated to be hampered by these problems with contingent workforce management.
Market Competitive Landscape
The Contingent Workforce Management market is highly consolidated. Some of the market key players are Avature, Beeline, Coupa Software Inc., cxc global, IMPARTX, PRO Unlimited Inc., Ramco Systems Ltd, SAP SE, the bowen group, Zeel Solutions Ltd., and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By End User |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Avature, Beeline, Coupa Software Inc., cxc global, IMPARTX, PRO Unlimited Inc., Ramco Systems Ltd, SAP SE, the bowen group, Zeel Solutions Ltd., and others. |
COVID-19 Impact on Global Contingent Workforce Management Market
The COVID-19 pandemic has caused a number of concerns that have resulted in significant financial losses and a halt to commercial operations for several companies worldwide. The decline in the IT sector and health difficulties among employees have finally led to a reduction in the need for contingent workforce management. This has had an impact on the growth of nearly every business and caused an economic slowdown in several nations.
Better and more innovative contingent worker solutions have been sparked by COVID-19. Businesses are starting to realize the value of external workforces as flexibility becomes the standard due to the epidemic and worldwide lockdowns. Transparency of contingent spend has also naturally become a priority for both the HR and Procurement departments as the need to reduce expenses grows.
Key Target Audience:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Government Agencies
- Non-profit Organizations
- Healthcare Industry
- Information Technology (IT) Sector
- Manufacturing Industry
- Financial Services Sector
Our in-depth analysis of the Contingent Workforce Management Market includes the following segments:
| By End User: |
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| By Type: |
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| By Region: |
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Key Topics Covered in the Report:
- Global Contingent Workforce Management Market Size (FY’2024-FY’2033)
- Overview of Global Contingent Workforce Management Market
- Segmentation of Global Contingent Workforce Management Market By Type (Permanent StaffingFlexible Staffing)
- Segmentation of Global Contingent Workforce Management Market By End User (BFSI, Business/Professional Service, Government (Excluding Education), Healthcare
- IT and Telecom, Manufacturing- Automotive, Manufacturing- Consumer Products, Manufacturing-Others, Others, Pharma/biotech/medical equip, Real Estate and rental leasing, Retail trade, Transportation/warehousing/packaging)
- Statistical Snap of Global Contingent Workforce Management Market
- Expansion Analysis of Global Contingent Workforce Management Market
- Problems and Obstacles in Global Contingent Workforce Management Market
- Competitive Landscape in the Global Contingent Workforce Management Market
- Impact of COVID-19 and Demonetization on Global Contingent Workforce Management Market
- Details on Current Investment in Global Contingent Workforce Management Market
- Competitive Analysis of Global Contingent Workforce Management Market
- Prominent Players in the Global Contingent Workforce Management Market
- SWOT Analysis of Global Contingent Workforce Management Market
- Global Contingent Workforce Management Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Contingent Workforce Management Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Contingent Workforce Management Market Manufacturing Base Distribution, Sales Area, Ingredients6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Contingent Workforce Management Market
7. Global Contingent Workforce Management Market, By Type (USD Million) 2020-2033
7.1. Global Contingent Workforce Management Market Size, Share and Forecast, By Type, 2020-20267.2. Global Contingent Workforce Management Market Size, Share and Forecast, By Type, 2027-20337.3. Permanent Staffing7.4. Flexible Staffing
8. Global Contingent Workforce Management Market, By End User (USD Million) 2020-2033
8.1. Global Contingent Workforce Management Market Size, Share and Forecast, By End User, 2020-20338.2. Global Contingent Workforce Management Market Size, Share and Forecast, By End User, 2027-20338.3. BFSI8.4. Business/Professional Service8.5. Government (Excluding Education)8.6. Healthcare8.7. IT and Telecom8.8. Manufacturing- Automotive8.9. Manufacturing- Consumer Products8.10. Manufacturing-Others8.11. Others8.12. Pharma/biotech/medical equip8.13. Real Estate and rental leasing8.14. Retail trade8.15. Transportation/warehousing/packaging
9. Global Contingent Workforce Management Market, Forecast, 2020-2033 (USD Million)
9.1. Global Contingent Workforce Management Market Size and Market Share
10. Global Contingent Workforce Management Market, By Region, 2020-2033 (USD Million)
10.1. Global Contingent Workforce Management Market Size and Market Share, By Region (2020-2026)10.2. Global Contingent Workforce Management Market Size and Market Share, By Region (2027-2033)10.3. Asia-Pacific10.3.1. Australia10.3.2. China10.3.3. India10.3.4. Japan10.3.5. South Korea10.3.6. Rest of Asia-Pacific10.4. Europe10.4.1. France10.4.2. Germany10.4.3. Italy10.4.4. Spain10.4.5. United Kingdom10.4.6. Rest of Europe10.5. Middle East and Africa10.5.1. Kingdom of Saudi Arabia10.5.2. United Arab Emirates10.5.3. Qatar10.5.4. South Africa10.5.5. Egypt10.5.6. Morocco10.5.7. Nigeria10.5.8. Rest of Middle-East and Africa10.6. North America10.6.1. Canada10.6.2. Mexico10.6.3. United States10.7. Latin America10.7.1. Argentina10.7.2. Brazil10.7.3. Rest of Latin America
11. Company Profile
11.1. Avature11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. Beeline11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. Coupa Software Inc.11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. cxc global11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. IMPARTX11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. PRO Unlimited Inc.11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Ramco Systems Ltd11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. SAP SE11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. the bowen group11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Zeel Solutions Ltd.11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments11.11. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Contingent Workforce Management Market is projected to reach USD 570.39 billion by 2033, growing at a CAGR of 10.73 % during the forecast period.
Contingent Workforce Management Market size from 2022. The Market is expected to reach USD 570.39 billion by 2033, at a CAGR of 10.73% during the forecast period.
Contingent Workforce Management Market CAGR of 10.73% during the forecast period.
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Contingent Workforce Management Market size is 570.39 billion from 2024 to 2033.
Contingent Workforce Management Market Segment is covered By Type, By End User.
The North America anticipated to have the highest market share in the Contingent Workforce Management Market.
The key players in the market include Companies Covered Avature, Beeline, Coupa Software Inc., cxc global, IMPARTX, PRO Unlimited Inc., Ramco Systems Ltd, SAP SE, the bowen group, Zeel Solutions Ltd., and others.
The company bears the ultimate responsibility for the quality of the work produced by its contingent employees, even though customers may need to grant them fair authority over the assignment.
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