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
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| 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:
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By End User: |
BFSI
Business/Professional Service
Government (Excluding Education)
Healthcare
IT and Telecom
Manufacturing- Automotive
Manufacturing- Consumer Products
Manufacturing-Others
|
|
By Type: |
Permanent Staffing
Flexible Staffing
|
|
By Region:
|
Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Contingent Workforce Management Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Contingent Workforce Management Market Manufacturing Base Distribution, Sales Area, Ingredients
6.2. 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, 2020-2026
7.2. Global Contingent Workforce Management Market Size, Share and Forecast, By Type, 2027-2033
7.3. Permanent Staffing
7.4. 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, 2020-2033
8.2. Global Contingent Workforce Management Market Size, Share and Forecast, By End User, 2027-2033
8.3. BFSI
8.4. Business/Professional Service
8.5. Government (Excluding Education)
8.6. Healthcare
8.7. IT and Telecom
8.8. Manufacturing- Automotive
8.9. Manufacturing- Consumer Products
8.10. Manufacturing-Others
8.11. Others
8.12. Pharma/biotech/medical equip
8.13. Real Estate and rental leasing
8.14. Retail trade
8.15. 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-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Avature
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Beeline
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Coupa Software Inc.
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. cxc global
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. IMPARTX
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. PRO Unlimited Inc.
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Ramco Systems Ltd
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. SAP SE
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. the bowen group
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Zeel Solutions Ltd.
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. 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.
