Did you know that engineering staffing is estimated to be a $42.4 billion market globally in 2023? That’s right, it’s the third largest professional staffing segment, behind IT and healthcare.
But why is engineering staffing such a growth sector in the global staffing industry? Well, it’s all thanks to the increasing investment in infrastructure projects and advanced technologies around the world. And it’s not just limited to one region or country, as the US, Europe, and Australia all have significant markets for engineering staffing.
Engineers play a crucial role in R&D and implementation across a wide range of industries, from food manufacturing to power generation to medical devices. However, there is a growing shortage of engineering talent globally, which is creating opportunities for staffing companies who can connect with this in-demand talent.
This has led to a high level of merger and acquisition activity in the engineering staffing space, with nearly 70 reported transactions since the beginning of 2021. Companies are looking to strengthen their financial positions by either acquiring or divesting businesses, or by expanding into new geographies, industries, or services.
In the US, engineering temporary staffing revenue has remained strong, outpacing the overall staffing industry. This is due to the government’s efforts to boost domestic infrastructure and manufacturing
