The worldwide market for talent platforms (B2B) experienced an impressive 22% year-over-year (y/y) expansion in 2022, propelling it to a scale of $16.8 billion. Nevertheless, cyclical economic headwinds are likely to reduce the rate of growth to only 3% y/y in 2023. All forecasts point to a further increase of the talent platform market to $18.5 billion by 2024.
When excluding the healthcare segment, 2020 saw a more moderate global yearly growth of 16% for the talent platform market. The surge of the US talent platform sector in healthcare nonetheless resulted in this skill category constituting 20% of the US market in 2022, playing a decisive role in the overall growth. While the situation in the healthcare sector might be used to incur a drag on the global talent platform market in 2023, IT (40%) and design/creative (25%) still account for the majority (65%) of it.
Consolidation of the talent platform market is evident, with the 20 largest platforms responsible for an impressive 71% of the worldwide market; the list of augmented by 22 talent platforms to exceed $100 million in terms of gross services volume (GSV) in 2022.