Revenue in the global gig economy totaled $3.8 trillion in 2022, according to a new report by SIA. The figure only includes gig work conducted on a B2B basis.
The research reflects data from 18 countries, which represent 90% of global contingent spending.
SIA’s definition of the gig economy includes:
- Temporary workers assigned through a staffing agency.
- Temporary workers sourced directly (no staffing agency).
- Self-employed with no employees (independent contractors).
- Statement-of-work consultants employed by consulting firms (SOW).
- Temporary workers obtained via talent and work services platforms.
Independent contractors made up the largest share of the gig economy in terms of revenue, earning an estimated $1.93 trillion globally in 2022, or 50% of the total.
Temporary workers assigned by staffing firms made up 14% of the revenue, while directly sourced temporary workers (no staffing firm) represented 24%, statement-of-work consultants represented 10% and temporary workers sourced via talent and work services platform represented 1%. The remainder was classified as “other temporary workers.”
“The gig economy offers enormous opportunities to the staffing industry over the next few years,” said Adam Pode, director of research (EMEA and APAC). “Whether by assisting companies to find cross-border talent via a platform, helping independent contractors find work or building a system to attract direct hires, this report will help companies identify where the talent pools sit.”
Corporate members of SIA can download the full report, The Global Gig Economy 2023.