The trend of working remotely has been slowly increasing globally since 2015, with a one to three percent annual increase rate. However, the COVID-19 pandemic in 2020 upended the world economy and global markets. Employment trends were no exception to this, with the share of employees working remotely increasing to some 27 percent in 2022 from just 13 percent two years prior. The industry with the highest share of remote workers globally in 2023 was by far the technology sector, with over 67 percent of tech employees worldwide working fully or mostly remotely. How are employers dealing with remote work? Many employers around the world have already adopted some remote work policies. According to IT industry leaders, reasons for remote work adoption ranged from a desire to broaden a company’s talent pool, increase productivity, and reduce costs from office equipment or real estate investments. Nonetheless, employers worldwide grappled with various concerns related to hybrid work. Among tech leaders, leading concerns included enabling effective collaboration and preserving organizational culture in hybrid work environments. Consequently, it’s unsurprising that maintaining organizational culture, fostering collaboration, and real estate investments emerged as key drivers for return-to-office mandates globally. However, these efforts were not without challenges. Notably, 21 percent of employers faced employee resistance to returning to the office, prompting a review of their remote work policies.

Before the coronavirus (COVID-19) pandemic, 17 percent of U.S. employees worked from home 5 days or more per week, a share that increased to 44 percent during the pandemic. The outbreak of the COVID-19 pandemic accelerated the remote working trend, as quarantines and lockdowns made commuting and working in an office close to impossible for millions around the world. Remote work, also called telework or working from home (WFH), provided a solution, with employees performing their roles away from the office supported by specialized technology, eliminating the commute to an office to remain connected with colleagues and clients. What enables working from home?

To enable remote work, employees rely on a remote work arrangements that enable hybrid work and make it safe during the COVID-19 pandemic. Technology supporting remote work including laptops saw a surge in demand, video conferencing companies such as Zoom jumped in value, and employers had to consider new communication techniques and resources. Is remote work the future of work?

The response to COVID-19 has demonstrated that hybrid work models are not necessarily an impediment to productivity. For this reason, there is a general consensus that different remote work models will persist post-COVID-19. Many employers see benefits to flexible working arrangements, including positive results on employee wellness surveys, and potentially reducing office space. Many employees also plan on working from home more often, with 25 percent of respondents to a recent survey expecting remote work as a benefit of employment. As a result, it is of utmost importance to acknowledge any issues that may arise in this context to empower a hybrid workforce and ensure a smooth transition to more flexible work models.

These figures are experimental estimates of online job adverts provided by Adzuna, an online job search engine. The number of job adverts over time is an indicator of the demand for labour. To identify these adverts we have applied text-matching to find job adverts which contain key phrases associated with homeworking such as “remote working”, “work from home”, “home-based” and “telework”. The data do not separately identify job adverts which exclusively offer homeworking from those which offer flexible homeworking, such as one day a week from home.

According to a recent survey, 90,000 employees are expected to work from home after the coronavirus (COVID-19) crisis ends in Denmark. While around 70 per thousand private sector employees were working remotely before the pandemic, the number was forecast to reach 160 per 1,000 employees after workplace restrictions are abolished. During the crisis in 2020, 460 private sector employees were in home office per thousand employees.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Percentage and average percentage of workforce anticipated to work on-site or remotely over the next three months, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, fourth quarter of 2024.

Hybrid models of working are on the rise in the United States according to survey data covering worker habits between 2019 and 2024. In the second quarter of 2024, 53 percent of U.S. workers reported working in a hybrid manner. The emergence of the COVID-19 pandemic saw a record number of people working remotely to help curb the spread of the virus. Since then, many workers have found a new shape to their home and working lives, finding that a hybrid model of working is more flexible than always being required to work on-site.

Percentage and average percentage of workforce anticipated to work on-site or remotely over the next three months, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, second quarter of 2024.

Employees aged 18 years and over who availed of remote working in the previous 12 months by frequency of remote working in a typical 4 week period, a typical period pre COVID-19

According to a 2022 survey, workers 65 and older reported the most number of days worked from home with an average of 3.5 days. This is compares with 2.5 days amongst workers aged 18 to 24. During the COVID-19 pandemic, many workers across the U.S. began working remotely for the first time. The popularity of remote work has continued as pandemic restrictions have relaxed.

In February 2025, approximately 14 percent of workers in Great Britain worked from home exclusively, with a further 26 percent working from home and travelling to work, while 37 percent only travelled to work. During this time period, the share of people only travelling to work was highest in March 2022, at 60 percent of respondents, with the peak for only working from home occurring in June 2020. In general, hybrid working has become steadily more popular than fully remote working, with the highest share of people hybrid working in November 2023, when 31 percent of people advising they were hybrid working. What type of workers are most likely to work from home? In 2020, over half of people working in the agriculture sector mainly worked from home, which was the highest share among UK industry sectors at that time. While this industry was one of the most accessible for mainly working at home, just six percent of workers in the accommodation and food services sector mainly did this, the lowest of any sector. In the same year, men were slightly more likely to mainly work from home than women, while the most common age group for mainly working from home was those aged 75 and over, at 45.4 percent. Over a long-term period, the share of people primarily home working has grown from 11.1 percent in 1998, to approximately 17.4 percent in 2020. Growth of Flexible working in the UK According to a survey conducted in 2023, working from home either on a regular, or ad-hoc basis was the most common type of flexible working arrangement offered by organizations in the UK, at 62 percent of respondents. Other popular flexible working arrangements include the ability to work flexible hours, work part-time, or take career breaks. Since 2013, for example, the number of employees in the UK that can work flextime has increased from 3.2 million, to around 4.2 million by 2024. When asked why flexible work was important to them, most UK workers said that it supported a better work-life balance, with 41 percent expressing that it made their commute to work more manageable.

The coronavirus disease 2019 (COVID-19) pandemic has had a major influence on working patterns worldwide, given the various lockdown periods and the shift to remote working. As people’s noise perception is known to be closely linked with their work performance and job satisfaction, investigating the noise perception in indoor spaces, especially in situations where people work from home, is crucial; however, studies on this aspect are limited. Thus, here, this study aimed to investigate the relationship between indoor noise perception and remote work during the pandemic. The study assessed how people who worked from home perceived indoor noise, and how it related with their work performance and job satisfaction. A social survey was conducted with respondents who worked from home during the pandemic in South Korea. A total of 1,093 valid responses were used for data analysis. Structural equation modeling was used as a multivariate data analysis method to simultaneously estimate multiple and interrelated relationships. The results showed that indoor noise disturbance significantly affected annoyance and work performance. Annoyance with indoor noise affected job satisfaction. Job satisfaction was found to have a significant impact on work performance, particularly on two dimensions of the work performance that are crucial for achieving organizations’ goals. Moreover, one dimension of the work performance had a significant impact on annoyance. The study proposed that reducing negative perception of indoor noise and improvement of job satisfaction can lead to the maximization of one’s work performance when working from home.

The annual survey studied employee opinion on the quality of working life in Finland. Main themes included organisation of work, development opportunities and flexibility, learning and training at work, wages, workplace bullying, capacity to work, and changes in working life. Questions in the barometer have mainly remained the same each year. The questionnaire, target population and collection method of the survey were changed for the 2021 collection round. First, the respondents were asked about the number of people employed at their workplace and changes in the number of staff in the past 12 months. Satisfaction in the working environment was charted with questions about openness, encouragement, trust and equality in the workplace. Further questions covered measures taken to improve employees' capacity to work and safety of work environment. The respondents were asked whether their place of work supported its employees in learning and trying new things, and whether they had taken part in job-related training in the past 12 months and received a salary during that time. Participation in job-related training through different methods (e.g. online, with a mentor, self-study) in the past 12 months was surveyed. The respondents were also asked whether in the past 12 months they had developed their skills and competence so that they could work in a new role in the future, and whether they had received new tasks or responsibilities at their job that had required them to learn new things. The next set of questions focused on flexible working time arrangements at the workplace, pay and bonus systems, satisfaction with the pay level, and digital tools as part of work. Autonomy at work was surveyed by asking about influence over own work tasks and working pace, over the distribution of work in the workplace, and about working to a tight schedule. Remote work was investigated with questions on whether the respondents had worked remotely in the past 12 months and whether they felt they could influence how much remote work they did. The respondents' experiences of working with their manages were examined with questions on, for example, whether they receive feedback from their manager when they succeeded in their work, whether their managed treats employees fairly and equally, and whether their manager is interested in their workplace wellbeing. The use of digital tools, virtual workspaces, and social media services as part of work tasks was also charted. One set of questions investigated the employees' perceived workload, capacity to work, estimates of own mental and physical capacity to work, and sickness absences. Discrimination at work based on factors such as ethnic group, age, gender, sexual orientation, and health status was explored. Incidents of bullying, sexual harassment and violence at work were also surveyed. Additionally, the respondents' experiences of stress, mental exhaustion, inability to focus, togetherness and excitement related to work were surveyed. The respondents were asked how likely they thought it was that they would be temporarily laid off or made redundant. Views were probed on the respondents' likelihood of getting an equal job if they became unemployed and what they would do if they became unemployed (e.g. apply for a new job in the same field, apply for a new job in a different field, become self-employed, get a job abroad). Finally, the respondents' membership of trade unions and unemployment funds was surveyed. Background variables included, among others, the respondent's year of birth, age, gender, status in employment, employer type, industry of employment, type of contract, and weekly working hours.

In a global survey conducted with CIOs, respondents stated that fully remote work will likely transition to hybrid work in the future. About 15 to 16 percent stated their companies’ workforce worked remotely prior to the pandemic, and as of late 2021, 30 percent of respondents expected the workforce to be working remotely permanently. By 2022, 36 percent of respondents expected to be working in a hybrid model permanently.

As of 2023, 8.9 percent of employed people in the European Union usually worked from home. This share of home-office workers varied widely between European countries, with a 21 percent of finish workers usually working from home, compared to only one percent of Romanian workers. It was in general more common for women to work from home usually than men, however, this was notably reversed in some countries, such as Ireland where almost 23 percent of men regularly worked from home.

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Lone Worker Safety Solutions Market Size 2025-2029

The lone worker safety solutions market size is forecast to increase by USD 185.9 million at a CAGR of 8.8% between 2024 and 2029.

The market is experiencing significant growth due to the increasing hazards associated with lone work and the need to ensure employee safety. One key trend driving market growth is the high possibility of lone work hazards, which can result in injuries or even fatalities. Additionally, mergers and acquisitions and collaboration activities among companies are on the rise, leading to innovation and advancements in lone worker safety technologies. The adoption of technology, including machine learning and artificial intelligence, enhances safety infrastructure and monitoring processes. However, there are challenges to market growth, including the poor or inadequate implementation of workplace safety norms in developing or underdeveloped countries. This can lead to a lack of awareness and prioritization of lone worker safety, potentially putting employees at risk.

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In today's business landscape, ensuring the safety and well-being of remote workers, particularly those in high-risk industries such as construction, is a top priority. Lone worker safety solutions have emerged as a crucial component of risk management strategies, enabling organizations to proactively mitigate hazards and protect their workforce. Data analysis plays a pivotal role in these solutions, providing valuable insights into workplace trends and potential risks. Compliance software, for instance, uses data to ensure adherence to OSHA standards and other regulatory requirements. Remote worker awareness campaigns and training programs are essential components of these solutions, fostering a culture of safety and employee well-being.



Risk management solutions offer audits, reporting tools, and proactive measures to identify and address potential hazards. Location tracking software and emergency alert systems are essential features, enabling real-time monitoring and swift response in case of emergencies. Equipment protocols and workplace management procedures are also crucial elements, ensuring that all machinery and tools are used safely and efficiently. Worker well-being programs, including leadership training and hazardous materials handling procedures, are integral to these solutions. Remote monitoring systems and digital protocols facilitate effective remote workforce management, while IoT in construction and smart city solutions enhance workplace safety and efficiency. In conclusion, lone worker safety solutions are vital for organizations seeking to protect their remote workforce and ensure compliance with regulatory requirements.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Devices
  Software platforms


End-user

  Construction
  Industrial sites
  Oil and gas
  Mining
  Others


Geography

  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  APAC

    India
    Japan
    South Korea


  Middle East and Africa



  South America

By Type Insights

The devices segment is estimated to witness significant growth during the forecast period.

Lone worker safety solutions refer to devices designed to protect individuals working alone in remote or hazardous environments. These devices enable workers to summon assistance when faced with health emergencies, safety hazards, or assaults. Advanced lone worker safety devices offer features such as automatic check-ins, one-touch alerts, and integrated communication systems for real-time emergency response. The market for these solutions has seen significant growth due to increasing workplace safety regulations, such as OSHA standards, and the need to ensure employee satisfaction and well-being.

Furthermore, companies offer various types of devices, including wearable, standalone, satellite, and modem devices, to cater to diverse industry requirements. The market is continually evolving, with companies introducing innovative technologies to enhance lone worker safety and productivity.

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The Devices segment was valued at USD 206.00 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 39% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during th

According to Cognitive Market Research, the global Employee Recognition Software Market size will be USD 36214.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 187.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 140.85 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 107.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 23.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 9.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The Large enterprise category is the fastest growing segment of the Employee Recognition Software industry

Market Dynamics of Employee Recognition Software Market

Key Drivers for Employee Recognition Software Market

Developments in Software Based on Gamification to Accelerate Market Growth

Gamification is becoming increasingly popular around the world as a way to improve user engagement and capabilities in a variety of corporate processes. Ninety percent of employees said that gamification greatly increased performance, according to Zippia, Inc. Through its integration, it is anticipated to increase a number of human resource capabilities, including increased worker productivity, increased job satisfaction, an efficient incentive system, and more, ultimately increasing business revenue. 85% of workers concurred that gamification raises engagement levels in the workplace, per MarTech Alliance data. In a similar vein, companies can enhance employee collaboration and social interactions to speed up company workflow.

Expanding Adoption of Digital Workspaces to Fuel Market Expansion

Digital workplaces make use of automation, cloud computing, and collaboration tools to improve efficiency, enable remote work, and promote employee communication and collaboration. Management in the companies is focusing more on the well-being of its employees as a result of the increased awareness of work-life balance. In a similar vein, incorporating employee engagement improves the worker's capacity for effective task management. Employees have access to tools that make work activities easier in the digitally transformed workplace. Additionally, focus is placed on effective teamwork and enhanced communication, which support employees in increasing productivity. In a similar vein, AI-driven digital tools also support employee retention by automating processes and giving workers access to behavioral analysis.

Restraint Factor for the Employee Recognition Software Market

Time-consuming Software Tasks that Limit Market Expansion

Data and feedback are continuously needed by engagement software to analyze the rate of employee engagement inside an organization. But occasionally, employee-designated working hours are lost to the time needed for completing surveys, providing feedback, and having in-person conversations. An increased workload could lead to burnout and discontent with the company for the employee. It is anticipated that the requirement for ongoing employee feedback will impede market expansion. Planning engagement forms and surveys with appropriate definitions, goals, and frequency is so crucial.

Impact of Covid-19 on the Employee Recognition Software Market

Covid-19 had a significant impact on the Employee Recognition Software Market. The COVID-19 epidemic increased demand for team management and enhanced communication solutions, which in turn increased demand for employee engagement software. In a same vein, the pandemic increased employee focus on work-life balance, which in turn increased software usage. In order to improve productivity from remote work, employee wellbeing and health, and other onboarding processes, firms also made investments in employee engagement solutions during this time. Introduction of the Employee Recognit...

Results of the path analysis (* p < .05; ** p < .01; *** p < .001).

Market Overview: The global Remote Desktop Access Tool market is estimated to reach USD XXX million by 2033, exhibiting a CAGR of XX% from 2025 to 2033. The increasing demand for remote work and collaboration has fueled the growth of this market. Remote desktop tools enable enterprises and individuals to access their computers and desktops remotely, providing flexibility and accessibility. The growing adoption of cloud-based services, the expansion of SMEs, and the rising trend of digitalization are key drivers of market growth. Competitive Landscape and Regional Outlook: The Remote Desktop Access Tool market is highly competitive, with established players such as Solarwinds, Manage Engine, ISL Light, and Zoho dominating the landscape. These companies offer a wide range of features and functionalities to cater to diverse user needs. The market is expected to expand significantly in North America and Europe, driven by the presence of a large number of enterprises and the adoption of remote work practices. The Asia Pacific region is also expected to witness significant growth, fueled by the rapid expansion of SMEs and the adoption of cloud-based services.

According to Cognitive Market Research, the global Virtual Office Market size will be USD 16255.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 6502.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4876.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3738.77 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 812.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 325.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The cloud based category is the fastest growing segment of the Virtual Office industry

Market Dynamics of Virtual Office Market

Key Drivers for Virtual Office Market

Increasing Demand from Companies in the IT Sector to Boost Market Growth

The nature of IT tech organizations' operations, which are frequently typified by agile project teams and remote collaboration, accounts for the rapidly growing demand for virtual offices. For IT workers who require a flexible and collaborative environment, virtual offices offer the perfect option. With the help of virtual meeting rooms and professional mailing addresses, these companies may set up a virtual presence that enables their personnel to collaborate easily from different places. This adaptability fits the changing needs of tech and IT businesses, which usually work on projects. IT industry companies can save money by switching to virtual offices instead of regular office spaces. With the demand for skilled IT professionals transcending geographical boundaries, companies can leverage virtual offices to establish a global presence without the overhead costs of physical office spaces.

Growing Number of Workers Want to Work From Home to Drive Market Growth

A change in work-life choices is the primary cause of employees' growing desire for remote work. A flexible work environment that facilitates a better balance between personal and professional life is highly valued by modern professionals. This need is satisfied by working remotely through virtual offices, which give staff members the freedom to select where they work. The virtual office market adapts to the changing needs of employees who want a remote work arrangement that fits with their lifestyle choices as work-life integration becomes more and more important. Technological developments and increased connection are major factors driving the need for virtual offices. Smooth remote work experiences are made possible by communication tools, collaborative platforms, and high-speed internet.

Restraint Factor for the Virtual Office Market

Growing concern about data security, will Limit Market Growth

One major obstacle to the virtual office sector is growing concerns about data security. Businesses are more vulnerable to data breaches and cyberattacks as they depend more on digital tools and cloud-based services. Businesses struggle to protect confidential data, which makes them reluctant to adopt virtual office solutions completely. The environment becomes much more complex when firms have to comply with legislation like GDPR and HIPAA, which impose strict data protection standards. As a result, service providers need to spend money on strong security measures and teach customers best habits. Businesses may prioritize data security above adopting virtual office models, which could impede their acceptance.

Impact of Covid-19 on the Virtual Office Market

The COVID-19 epidemic caused a major shift in the virtual office industry and an increase in demand as more companies moved to remote work. Businesses looked for adaptable, affordable ways to continue operating without typical overheads. This change hastened the adoption of technology by improving the tools necessary for distant teams to collaborate and communicate. As remote wor...

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Staffing Services Market Size 2024-2028

The staffing services market size is forecast to increase by USD 236.6 billion at a CAGR of 6.53% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. Firstly, the increasing demand for jobs in the labor market continues to fuel the need for staffing services. Secondly, the trend towards remote work and hybrid models has created new opportunities for staffing firms to provide flexible workforce solutions. Lastly, regulatory compliance is a mandatory consideration for staffing services, ensuring adherence to labor laws and industry standards. These factors, among others, are shaping the market landscape and presenting both opportunities and challenges for staffing providers. By staying abreast of these trends and regulatory requirements, staffing firms can effectively meet the evolving needs of their clients and candidates.

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The market encompasses various types of employment arrangements including Contract Staffing and Temporary Staffing. Recruitment agencies play a vital role in providing Employees for businesses, especially for Skilled Candidates who are in high demand. Fixed-term Contracts, Casual Work, and Seasonal Work are common staffing solutions for businesses with fluctuating Workforce Requirements. Online Recruitment has become increasingly popular due to its Cost-effective Hiring benefits and the ability to access a vast Talent Pool. In today's business environment, Staffing Services have become essential for various industries, especially Healthcare, where staff shortages can have serious consequences. Unemployment rates and Business activity influence the demand for Staffing Services. Staffing factoring services and Online factoring platforms offer financial solutions to help businesses manage cash flow during Client payment delays and High client turnover. FinTech companies are revolutionizing the Staffing Services industry with Automated processes, Digital payment solutions, and Blockchain technology. Non-recourse factoring is a popular financing option for businesses. The Staffing Services Market is also witnessing the emergence of Cross-Border Recruitment, Job Opportunities, and Talent Mobility. Job Vacancies and Staffing Needs continue to shape the market, with detailed Job Descriptions guiding the recruitment process.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Temporary staffing
  Permanent placement
  Contract staffing
  Outsourced recruitment
  Executive search


End-user

  Information technology
  Healthcare
  Manufacturing
  Finance and accounting
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    Japan


  South America



  Middle East and Africa

By Type Insights

The temporary staffing segment is estimated to witness significant growth during the forecast period.The temporary staffing sector holds a substantial share in The market in 2023. This segment caters to the temporary hiring demands of organizations due to short-term projects or seasonal fluctuations. Temporary staffing encompasses a range of jobs, from entry-level positions to specialized roles, across industries such as healthcare, manufacturing, IT, and finance. Key players in The market, including ManpowerGroup, Randstad N.V., and Adecco Group, provide temporary staffing solutions for various industries. ManpowerGroup simplifies the recruitment process for firms of all sizes with their hassle-free temporary staffing offerings. Randstad N.V. Offers flexible hiring options, enabling companies to optimize hiring costs and efficiently onboard skilled professionals in response to changing business and client needs for a limited period.

Financial services, such as recourse factoring, can support staffing agencies in managing their working capital requirements during the staffing process. Regulatory oversight ensures that these services are provided ethically and in compliance with industry standards.

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The Temporary staffing segment accounted for USD 192.90 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the market experienced significant growth in 2023, with a