Market Sizing of Global Online Outsourcing Industry


Posted by on March 24, 2016  /  0 Comments

Online outsourcing is divided into freelancing and Microworking. According to “The Global opportunity in online outsourcing” report published by World Bank group in June 2015, the market size for online freelancing in 2016 is estimated to reach $4.4 billion, and for microworking the market is forecast to be $0.4 billion, resulting in a total online outsourcing industry-projected market of $4.8 billion.

Revenue

Source: Dalberg analysis, based on published workforce data accessed June, 2014, from Elance, oDesk, Freelancer, Zhubajie/Witmart, CrowdFlower, and Amazon Mechanical Turk.

Click here to download The The global opportunity in online outsourcing

This market will support jobs (mostly part‐time) for an estimated 112 million workers—9 million in microwork and 103 million in online freelancing.

In Sri Lanka, Significant number of youth involved in online outsourcing, but the number of employment generated or market size of this industry is not explored to a greater extent. LIRNEasia currently engaged in a study to understand online outsourcing market and what are opportunities for under-employed youth, women and previously excluded persons to participate in micro-work or freelancing platforms. This study also explore the enabling factors and challenges and how the successful impact sourcing initiatives mitigated these challenges.

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