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Gig Based Business Market to Witness a Pronounce Growth During 2025

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Gig Based Business  Market to Witness a Pronounce Growth During 2025

The Gig Based Business market report entails a comprehensive database on the future projections of the pivotal aspects of this industry vertical including market trends, current revenue, market size, and profit estimates. The research provides an outline of how the Gig Based Business market will perform by highlighting the key factors influencing the market dynamics and growth rate of the industry over the forecast period. Furthermore, challenges deterring the market growth as well as the growth opportunities across regional terrains are elucidated in the report. Additionally, the study encapsulates details pertaining to the impact of the COVID-19 pandemic on the market size.

Key pointers from the Gig Based Business market report:

  • Consumption growth rates
  • Turnover predictions
  • Market concentration ratio
  • Major industry contenders
  • Competitive hierarchy
  • Major challenges
  • Market drivers
  • Regional segmentations
  • Recent market trends

Addressing the Gig Based Business market with respect to the regional terrain

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Gig Based Business Market categorization: North America, Europe, Asia-Pacific, South America, Middle East & Africa, South East Asia.

An overview of the details highlighted in the report with respect to the regional markets:

  • Consumption rates of the regions in question
  • Rise in consumption rates of each of the listed geographies over the forecast timeframe
  • Consumption market share, solely based on regional input
  • Market share accounted by each region

A comprehensive understanding of the Gig Based Business market in terms of the product and application spectrums:

Product landscape:

Product types: APP-based, Website-based and Website-based is the most widely used types which takes up about 52% of the total sales in 2019 

Key insights offered in the report:

  • Market share that every product type may register over the study period
  • Revenue estimates for all products
  • Total sales generated by each product segment
  • Consumption market share for each product type

Application landscape:

Application segmentation: Freelancer, Independent Contractor, Project Worker, Part-Time, Other, Gig Based Business is mainly used in following Application groups: Freelancer, Independent Contractor, Project Worker and Part-Time and Others. And Freelancers are the most widely used group which takes up about 36.54% of the global market in 2019

Specifics covered in the report:

  • Anticipated returns of all application segments
  • Market share that each application segment may amass over the projection period
  • Consumption market share held by each application type

Other inferences from the report:

  • Driving forces that positively impact the commercialization matrix and profit graph of the industry are extensively analyzed in the study.
  • Details regarding the prevailing challenges and how to reduce their impact are given as well.

A gist of competitive terrain of the Gig Based Business market:

Major participants: TaskRabbit, Favor Delivery, BellHops, HopSkipDrive, Freelancer, Guru.com, Fiverr, Rover, DoorDash, Upwork and Turo

Key parameters that govern the competitive dynamics:

  • Company profile
  • Regions served
  • Distribution channel
  • Product pricing models
  • Product sales statistics
  • Revenue margins

Points Covered in The Report:

The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors, etc.

The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. The historical data and forecast data from 2020 to 2025.

The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.

Data and information by manufacturer, by region, by type, by application, etc., and custom research can be added according to specific requirements. The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Recent Industry Trend:

The report contains the profiles of various prominent players in the Global Gig Based Business Market. Different strategies implemented by these vendors have been analyzed and studied to gain a competitive edge, create unique product portfolios and increase their market share. The study also sheds light on major global industry vendors. Such essential vendors consist of both new and well-known players. Besides, the business report contains important data relating to the launch of new products on the market, specific licenses, domestic scenarios and the strategies of the organization implemented on the market.

MAJOR TOC OF THE REPORT:

Chapter 1 Industry Overview

Chapter 2 Production Market Analysis

Chapter 3 Sales Market Analysis

Chapter 4 Consumption Market Analysis

Chapter 5 Production, Sales and Consumption Market Comparison Analysis

Chapter 6 Major Manufacturers Production and Sales Market Comparison Analysis

Chapter 7 Major Product Analysis

Chapter 8 Major Application Analysis

Chapter 9 Industry Chain Analysis

Chapter 10 Global and Regional Market Forecast

Chapter 11 Major Manufacturers Analysis

Chapter 12 New Project Investment Feasibility Analysis

Chapter 13 Conclusions

Chapter 14 Appendix

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Gig Economy Digital Platforms Get Tax Reporting Rules from OECD

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Daily Tax Report: International

July 3, 2020, 9:01 AM

A new global tax reporting framework for digital platforms released by the OECD on Friday seeks to promote standardized rules for how individuals on those platforms report their revenues.

Such platforms, including peer-to-peer online marketplaces, food delivery companies and sharing economy companies like Uber Technologies Inc. and Airbnb Inc., are a rapidly growing segment of many countries’ economies, but tax authorities are finding it hard to tax them effectively. The OECD is aiming to create consistency among tax administrations’ measures and to help digital platforms avoid unnecessary reporting burdens from differing unilateral rules.

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New lucrative offers for gig & blue collar workers to fill roles, Technology News, ETtech

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Illustration: Rahul Awasthi
Illustration: Rahul Awasthi

Gig workers are back in demand, although big technology firms and offline retailers are unable to fill roles quickly since many of these workers have returned to their hometowns following the Covid-19 induced economic crisis.

Open positions for gig and blue-collar staff were at 250,000 in March, but increased to 600,000 in April and currently stand at around 500,000, according to TeamLease data.

The vacant positions that companies such as Amazon, Zomato, Swiggy and PharmEasy, as well as Future group’s BigBazaar, are seeking to fill include ones in warehouse management, packaging and delivery, and for electricians, cooks, ward-boys, operations and healthcare workers.

Interestingly, these companies are offering the gig workers three-times their previous salaries and an additional 15% incentive compared to levels before the pandemic. They have also offered flight tickets and are going ahead with virtual onboarding, experts tracking the space said.

Online grocer Grofers, for instance, has hired people from industries deeply impacted by the current crisis — manufacturing, textiles and car rentals.

“We also encouraged supply chain hiring through referrals by giving bonuses to those who are referring friends and family for work and collaborated with other platforms for their delivery fleet,” said Rohit Sharma, head of supply chain at Grofers.

The demand for workers and incentives offered, however, differ across industries, the experts said.

“These workers now have ‘virtual job fairs’ wherein they can choose multiple companies to work and onboardings are done within an hour, from the earlier 15 days at least,” said Kaushik Banerjee, vice president and business head of TeamLease.

The volume of hiring, too, has largely increased.

Further, startups such as Swiggy, Grofers, BigBasket, Urban Company and Flipkart, are now training these employees in soft skills virtually, in just one-three days, and have pushed the envelope with respect to workforce safety measures.

“Over the last two months, we have hired over 3,000 people for our supply chain operations, and plan to hire another 2,000 warehouse and delivery staff in the coming months,” said Sharma of Grofers.

Amazon India is offering close to 20,000 temporary jobs in its customer service department. The new positions are open in Hyderabad, Pune, Coimbatore, Noida, Kolkata, Jaipur, Chandigarh, Mangaluru, Indore, Bhopal and Lucknow, it said in a statement.

Background verification has also become a significant part of such onboarding and firms are doing so even if the workers are away from metro cities and are only expected to return once the situation normalizes.

“During the lockdown, we built a digital background checks service through which complete onboarding is done virtually and…in a few minutes,” said Varun Mirchandani, co-founder of background verification firm HelloVerify.

The electronic Know Your Customer forms are being undertaken through WhatsApp, emails and SMSes.

Swiggy, for instance, said its onboarding and training has gone fully digital over the last few months.

Further, onboardings are now being completed in one hour, a stark shift from the earlier process of walk-ins where the process took at least two weeks.

“We moved to 100% digital learning during the delivery partner onboarding stage by December 2019. During Covid-19, we banked on our Zero Touch Learning approach and achieved 100% of the learning interventions to be driven digitally,” a Swiggy spokesperson said.



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Tom Stimson: Gig Economy ‘Is Going to Save’ Live Events Industry

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If you thought you could make minor tweaks to your business model in the hopes of skating through the economic downturn triggered by the coronavirus outbreak around the world, think again.

The financial struggle remains severe almost four months after the pandemic reached U.S. shores and, at least in some segments of the AV and live events industry, there’s no end in sight soon, says business consultant Tom Stimson in this week’s edition of his “The Show WILL Go On” webinar series.

“The lack of consensus about how to manage the pandemic is feeding uncertainty,” said Stimson. “That’s pushing the event economy further and further on down the road. Hybrid events are going to be difficult to pull off in the current climate. It’s pushed our recovery down a few more months.

“I think Q4 is going to be pushed more into streaming events. You need to get ahead of it. These are things that affect your clients’ best interests. There’s a lot of uncertainty out there,” he said.

Streaming events “may not be as fun or sexy” as traditional live events, “but it’s what we have right now,” said Stimson. “If you want the business, you’re going to have to claim some of that space.”

“We’re no longer in a sprint trying to get to September,” he said. “We’re now in a marathon that could last another year or more.” He says business stabilization comes with a cash flow plan, minimized expenses and broadened services.

Stimson advised business leaders to “look at every single expense, including rent, and ask yourself if it’s worth it” and explore strategic partnering with other small companies to help secure larger, more lucrative assignments.

“A lot of small companies sharing the risk on a large event is a big company,” said Stimson. “It’s time to move from defense to offense. Figure out what you can make happen and get out there and make it happen.

“Let go of the constraints of your old business model,” he said. “The gig economy is going to save our industry. Your business will continue to survive and deliver valuable service to your customers without the extra burden of overhead and the obligation that goes with it.

“There’s always going to be demand for gig employees and that demand is going to explode as our economy returns,” said Stimson.

Gig Economy

How to Succeed in the Gig Economy

In the gig economy, location still matters as much as it always has, said Stimson. Depth and quality matter too, of course, so businesses need to be “credibly broad on what you do” when location matters, he said.

If you’re in the right location for a given job, said Stimson, be the best value. If you have the right resource, make it easy to move, he said. If you are the best at what you do, don’t discount your specialization, said Stimson.

Hiring freelancers on retainer, setting up project-based fees and offering incentives and bonuses will position you for success in the gig economy, said Stimson.

“The same things that motivate your employees can motivate gig workers as well,” he said. “You want freelancers who are selling their craft, not just their time. Good freelancers will share what they know with your team, but not responsible for teaching them.

“A good freelancer in the gig economy wants to be involved in prep and planning for an event and they carry their own tools and accessories. They also respect the channel and offer tiered fees as a bonus,” said Stimson.

Business leaders can attract the best freelancers with standardized pay schedules, pre-production involvement, being treated in a similar way as full-time employees, training opportunities and loyalty, he said.



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