South Korea Freelance Platforms Market Size & Outlook
South Korea freelance platforms market, 2018-2030 (US$M)
Related Markets
South Korea freelance platforms market highlights
- The South Korea freelance platforms market generated a revenue of USD 280.4 million in 2023 and is expected to reach USD 848.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 17.1% from 2024 to 2030.
- In terms of segment, platform was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Freelance platforms market data book summary
| Market revenue in 2023 | USD 280.4 million |
| Market revenue in 2030 | USD 848.8 million |
| Growth rate | 17.1% (CAGR from 2023 to 2030) |
| Largest segment | Platform |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Platform, Services |
| Key market players worldwide | Fiverr International Ltd, Upwork Inc, Toptal, PeoplePerHour, 99designs, DesignCrowd, crowdSPRING, WorkGenius, Paro, Contently, Gigster |
Other key industry trends
- In terms of revenue, South Korea accounted for 5.7% of the global freelance platforms market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China freelance platforms market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 544.5 million by 2030.
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Freelance Platforms Market Scope
Freelance Platforms Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea freelance platforms market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to freelance platforms market will help companies and investors design strategic landscapes.
Platform was the largest segment with a revenue share of 52.64% in 2023. Horizon Databook has segmented the South Korea freelance platforms market based on platform, services covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing globalization in South Korea has fueled the growth of the freelance platforms market. Moreover, the growing trend of niche specialization is an important aspect driving the growth of the regional market. Freelancers are focusing on honing specific skills and catering to niche markets to efficiently meet the demand for specialized expertise.
This trend enhances the quality of services and provides freelancers with a competitive edge, as clients seek individuals with unique and highly specialized skill sets. According to industry experts, Soomgo, a South Korean freelance placement platform, had surpassed one million freelancers by August 2022, marking a significant increase from approximately 340 thousand individuals three years earlier.
The evolution of South Korea's freelance platforms market is marked by the growing gig economy, increasing globalization, and a rising trend of niche specialization, all of which collectively contribute to a dynamic and competitive landscape.
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Our clientele includes a mix of freelance platforms market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea freelance platforms market , including forecasts for subscribers. This country databook contains high-level insights into South Korea freelance platforms market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea freelance platforms market size, by component, 2018-2030 (US$M)
South Korea Freelance Platforms Market Outlook Share, 2023 & 2030 (US$M)
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