Did You Know Technology is Driving Growth of the Gig Economy?

The gig economy is expected 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.

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. The publisher 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 the 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.

SOURCE: ResearchAndMarkets.com