Emergent Research and Intuit, the two U.S.-based solution providers for small businesses, have conducted a study on the demographic, social, economic and technology trends that will affect the so-called on-demand economy which stands for ‘an online marketplace or application that connected providers/freelancers with customers’, also knowns as ‘sharing economy’.
According to their quantitative research, forecast and a survey that spanned 2,276 adults of 18 y.o. and older, the on-demand labour market in the U.S. will grow from 3.2 million now to 7.6 million in a 5-year time, demonstrating a 18.5% year-by-year growth.
79% of existing freelancers and other contingent workforce say their on-demand activity is part-time, however, some of the do not have a permanent job. Overall, the duration of unemployment period in the U.S. has risen from 8.5 weeks on average in 1980 to 82.1 week (almost 1.5 years!) in 2015. The growth of the freelance workforce also leads to decline in in defined-benefit pension plans in the U.S.: if in 1982 there were 60% of full-time workers enrolled in the pension programs, in 2015 there are only 14%.
The most popular services will be in such areas as transportation and logistics (Über, Lyft, Grub Hub, etc), creative talent platforms (Upwork (former Odesk), OnForce, etc), flat rental services (Airbnb, Couch Surfing, etc).