Staffing Industry Analysts recently published its Global Staffing Industry Market Estimates and Forecast: May 2018 Update. The report provides market sizing and growth forecasts that can be critical in the strategic planning efforts of global IT staffing operators or for those considering an international expansion.
The global staffing industry remains healthy and is steadily marching toward the half trillion-dollar milestone. SIA estimates it was a $461 billion market in 2017. As shown in Figure 1, this is predominantly temporary staffing ($413 billion). The remainder is comprised of direct hire and retained search.
Click on chart to enlarge.
Figure 1: Temporary staffing revenue by occupational segment ($ billions)
Source: SIA, Global Staffing Industry Market Estimates and Forecast: May 2018 Update
Drilling down into global temporary staffing, nearly 43%, or $176 billion, is comprised of professional staffing segments. Accounting for $66 billion, or 37% of global professional staffing, is the IT segment. IT staffing remains the largest professional staffing segment by a wide margin, more than twice the size of the next largest professional segments (healthcare and engineering at approximately $30 billion apiece).
There is variance in this proportion among geographies, however. For example, IT staffing has achieved the greatest market penetration relative to other segments in The Americas, where it accounts for 41% of professional staffing, compared to 35% in APAC and 34% in EMEA, as shown in Figure 2. Approximately $30 billion of the $32 billion temporary IT staffing market in the Americas is derived from the US.
Click on chart to enlarge.
Figure 2: Skill segment mix (Commercial and Professional Staffing in $ billions)
Source: SIA, Global Staffing Industry Market Estimates and Forecast: May 2018 Update
In addition to the estimates shared above, the report provides staffing market sizes and growth forecast for some of the larger countries within each region. The report is available now to all corporate members.
