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Global Contingent Workforce Management Market Size Study, by Type by End-User Industry and Regional Forecasts 2022-2032

Global Contingent Workforce Management Market Size Study, by Type by...

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Global Contingent Workforce Management Market Size Study, by Type by End-User Industry and Regional Forecasts 2022-2032
Global Contingent Workforce Management Market...
Report Code
RO9/103/2239

Publish Date
13/Aug/2024

Pages
200
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The global contingent workforce management market was valued at approximately USD 209.18 billion in 2023 and is expected to grow with a CAGR of 10.44% from 2024 to 2032. Contingent workforce management involves the strategic process of sourcing and managing non-permanent labor within an organization, which includes tasks like hiring and task assignment. Although it provides companies with operational flexibility, it also presents challenges such as instability and lower reliability compared to permanent employees. Effective contingent workforce management is crucial for maintaining quality control and mitigating risks associated with non-permanent workers. The rapid expansion of contingent workforce management services further reduces the need for extensive new employee training, thus providing a competitive edge to companies.

The rising demand for a flexible workforce is a significant growth driver for the contingent workforce management market. Factors such as increasing global population, changing demographics, and varying labor force participation rates are propelling market growth. These elements enable employers to efficiently manage workforce availability and skill sets, thereby enhancing productivity. Furthermore, contingent workforce management offers cost-saving advantages as contingent workers often come at a lower wage and benefits cost compared to permanent staff. Additionally, the ability to swiftly fill open positions and adapt to market demands is another driving factor for market growth. However, challenges such as higher turnover rates, potential security risks, and integration issues with contingent workers can hinder market growth.

In 2023, Asia-Pacific dominates the global Contingent Workforce Management market in terms of revenue and is expected to have the fastest-growing market during the forecast period 2024-2032. In 2023, Asia-Pacific emerged as the dominant region in the global Contingent Workforce Management market, characterized by significant growth and adoption across various industries. The region's dominance can be attributed to several factors, including the rapid expansion of the gig economy, increasing adoption of flexible workforce solutions by businesses, and advancements in technology facilitating efficient management of contingent workers. Countries such as China, India, Japan, Australia, and Southeast Asian nations are key contributors to this growth, driven by a dynamic labor market and the need for workforce flexibility. Enterprises in Asia-Pacific are increasingly leveraging contingent workforce management platforms to streamline recruitment, onboarding, scheduling, and payment processes for temporary and contract workers.

Major market players included in this report are:
Avature
Beeline
BOWEN Group
Impartx
Coupa Software Inc.
SAP SE
CXC Global
Magnit
Ramco Systems
Zeel Solutions Ltd.
The detailed segments and sub-segment of the market are explained below:
By Type:
Permanent Staffing
Flexible Staffing
By End-User Industry:
IT and Telecom
BFSI
Healthcare
Manufacturing- Automotive
Business/Professional Service
Retail Trade
Pharma/Biotech/Medical Equip
Manufacturing- Consumer Products
Government (Excluding Education)
Transportation/Warehousing/Packaging
Real Estate and Rental Leasing
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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