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Transformative Trends Shaping the Gig Economy
Transformative Trends Shaping the Gig Economy
Business World Shifts toward an Alternative Workforce
03-May-2023
Megatrends
Description
Since the COVID-19 pandemic forced changes across the global business landscape, the labor market has transformed drastically and will evolve even more, driven by technological innovation and the risk of recession. These swift changes have boosted demand for gig workers. Frost & Sullivan expects the gig economy to become a workforce mainstay.
This study explores the evolution of gig work and its current and future value on a global scale. Various factors, such as uncertainty about the job market, rising inflation and cost of living, shrinking and expanding demand for delivery services, and COVID-19-induced exposure to work flexibility, have boosted demand for gig work among employees and employers. This growth has increased demand for gig platforms and the latest technology to manage and monitor workers and their productivity. Frost & Sullivan expects the gig economy to reach $455.63 billion by 2030, driven by factors such as increasing adoption of digitalization, changing work preferences, and rising inflation. More than half of the gig workforce will fall within the age group of 28 and 43 years, with the rate of female participation in freelance jobs increasing.
Key Issues Addressed:
- What are the major factors driving gig economy transformation?
- How big is the gig economy and its global reach?
- What is the major gig economy by platform service types, and what is their future outlook?
- What are the key technologies supporting the gig workforce and economic growth?
- Which critical success factors and growth opportunities should companies consider before strategizing long-term business plans?
Author: Drisya Chandran
Table of Contents
Why is Growth Becoming Increasingly Difficult to Achieve?
The Strategic Imperative 8™
Our Mega Trend Universe—Overview
Growth Opportunities Fuel the Growth Pipeline Engine™
Our Mega Trend Universe—Transformative Trends Shaping the Gig Economy
Key Findings
Critical Growth Opportunities
Evolution of the Term Gig
Gig Economy—Market Size and Global Influence
Companies Transitioning toward a Gig Economy
Traditional Gig Economy Transmuting to Gig 2.0
Key Factors Driving the Transformation of the Gig Economy
Driver 1—Lucrative Market for Delivery & Mobility Services
Driver 2—Changing Career Aspiration of Future Workforce
Driver 3—Changing Employment Regulations and Status
Driver 4—Volatile Demand and Uncertainty in Market
Gig Economy—Types of Gig-based Platform Services
On-demand Delivery and Mobility Services Market
On-demand Personal Services Market
On-demand Staffing and Administrative Services Market
Key Technologies Shaping the Gig Economy
Blockchain Technology—An Easy Solution for Gig Management and Payments
Freelance Management Software—A Requisite for Organizing a Gig Workforce
Trend Opportunity Impact and Certainty Analysis
Trend Opportunity Impact and Certainty Analysis (continued)
Trend Opportunity Disruption Index
Trend Disruption Attractiveness Score
Trend Opportunity Growth Index
Growth Attractiveness Score
Growth Opportunity 1—Personalized Branding Model
Growth Opportunity 1—Personalized Branding Model (continued)
Growth Opportunity 2—Platforms Monetizing Passion Creators
Growth Opportunity 2—Platforms Monetizing Passion Creators (continued)
Growth Opportunity 3—Personalized Microlearning
Growth Opportunity 3—Personalized Microlearning (continued)
Critical Success Factors for Growth
Conclusion—The Way Forward
Identifying Your Company’s Growth Zone
Your Next Steps
About The Growth Pipeline Model™
Our Mega Trend Universe
Our Mega Trend Universe (continued)
List of Exhibits
Legal Disclaimer
Popular Topics
Key Issues Addressed:
- What are the major factors driving gig economy transformation
- How big is the gig economy and its global reach
- What is the major gig economy by platform service types, and what is their future outlook
- What are the key technologies supporting the gig workforce and economic growth
- Which critical success factors and growth opportunities should companies consider before strategizing long-term business plans
Author: Drisya Chandran
| Deliverable Type | Megatrends |
|---|---|
| Author | Drisya Chandran |
| Industries | Cross Industries |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Gig Economy Transformative Trends |
| Keyword 2 | Gig Economy Opportunities |
| Keyword 3 | Gig Economy Trends |
| Podcast | No |
| WIP Number | PE3C-01-00-00-00 |