Millennials were the largest generation group in the United States in 2024, with an estimated population of ***** million. Born between 1981 and 1996, Millennials recently surpassed Baby Boomers as the biggest group, and they will continue to be a major part of the population for many years. The rise of Generation Alpha Generation Alpha is the most recent to have been named, and many group members will not be able to remember a time before smartphones and social media. As of 2024, the oldest Generation Alpha members were still only aging into adolescents. However, the group already makes up around ***** percent of the U.S. population, and they are said to be the most racially and ethnically diverse of all the generation groups. Boomers vs. Millennials The number of Baby Boomers, whose generation was defined by the boom in births following the Second World War, has fallen by around ***** million since 2010. However, they remain the second-largest generation group, and aging Boomers are contributing to steady increases in the median age of the population. Meanwhile, the Millennial generation continues to grow, and one reason for this is the increasing number of young immigrants arriving in the United States.

Seventy percent of the global workforce will be shared equally by Generation X and Generation Y by 2020, with forecasts suggesting that Generation Z will make up nearly a ******* of the workforce as they start to enter adulthood. Employment rates in industrialized countries In member countries of the Organisation for Economic Co-operation and Development (OECD), employment rates range between ** and ** percent of the working age population. Northern European countries such as Iceland, Sweden, and Denmark have some of the highest employment rates, along with New Zealand and Japan. Italy, Greece, and Turkey had the lowest employment rates in OECD countries. The staffing industry Recruitment firms are now well-established in many industrialized countries. The global staffing industry was estimated to have revenues of *** billion U.S. dollars in 2017, with firms from the United States generating a ** percent share of that figure. Firms from Japan also held a significant market share and this highlights the growth in the staffing industry across Asia, with the Chinese market expecting revenues to increase by around ** percent in 2019.

In 2022, among the working age population of the United Kingdom, there were approximately **** million people employed from the Baby Boomer Generation, followed by **** million Gen X employed, **** million Millennials, and *** million Gen Z.

This statistic shows the distribution of the labor force in the United States in 2017, by generation. In 2017, the greatest share of the labor force was made up of the Millennial generation, accounting for 35 percent of the total labor force.

Employee Engagement Platform Market Outlook

In 2023, the global employee engagement platform market size was valued at approximately $1.5 billion, and it is projected to reach around $4.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.3%. This growth is primarily driven by the increasing recognition among organizations of the importance of employee engagement in enhancing productivity and reducing turnover rates. As workplaces evolve to become more digitally integrated, these platforms are becoming essential tools for fostering a positive and engaging work environment. The need for efficient communication, feedback mechanisms, and employee wellness initiatives is further propelling the demand for robust employee engagement solutions.

The growth of the employee engagement platform market is significantly fueled by the rapid digital transformation across industries. Organizations are increasingly adopting these platforms to streamline communication, gather real-time feedback, and foster a sense of belonging among employees. The shift towards remote and hybrid work models has accelerated the adoption of digital tools, making engagement platforms vital in maintaining connectivity and collaboration. Additionally, there is a growing emphasis on employee well-being and mental health, leading companies to seek comprehensive solutions that offer wellness resources and support. The integration of AI and machine learning within these platforms is also enhancing their capability to provide personalized and predictive insights, thereby improving the overall employee experience.

Moreover, the millennial and Gen Z workforce is driving the demand for innovative and interactive engagement solutions. These generations prioritize workplace culture, flexibility, and career development, prompting organizations to leverage advanced engagement platforms to attract and retain top talent. The increasing competition for skilled professionals has made it imperative for businesses to differentiate themselves by fostering an engaging work environment. This shift in workforce dynamics is compelling organizations to invest in platforms that not only engage but also empower and develop employees, thereby boosting performance and job satisfaction. Furthermore, the rise of social media and digital communication tools is influencing how organizations design their engagement strategies, integrating features that resemble these popular platforms to enhance user experience.

The regional outlook for the employee engagement platform market reveals significant growth prospects across various regions. North America currently holds the largest share, driven by the early adoption of advanced technologies and a strong focus on employee experience initiatives. Europe follows closely, with a growing emphasis on workplace innovation and employee-centric policies. The Asia Pacific region is expected to witness the fastest growth rate, attributed to the increasing digitalization and expanding corporate sector. Countries like China and India are leading this growth due to their large workforce and the burgeoning information technology industry. Meanwhile, Latin America and the Middle East & Africa are gradually embracing these platforms as organizations in these regions recognize the competitive advantage of engaged employees. The diversity in regional growth patterns highlights the global demand for effective employee engagement solutions tailored to specific cultural and organizational needs.

Employee Gamification Software is emerging as a pivotal component in enhancing employee engagement strategies. By incorporating game-like elements into everyday work processes, organizations can significantly boost motivation and productivity. This software leverages the principles of gamification to create an interactive and rewarding work environment, encouraging employees to achieve their goals while enjoying the process. The integration of leaderboards, achievement badges, and point systems not only fosters healthy competition but also promotes a sense of accomplishment among employees. As companies strive to differentiate themselves in a competitive job market, the adoption of Employee Gamification Software is becoming increasingly popular. It provides a unique approach to engagement, appealing particularly to the millennial and Gen Z workforce who value innovative and dynamic workplace experiences. This trend is expected to continue as organizations recognize the benefits of gamification in driving employee satisfaction and retention.

Component A

According to Cognitive Market Research, the global Gig Economy market size will be USD 561245.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 17.20% 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 224498.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 168373.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 129086.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 28062.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.6% 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 11224.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031.
The transportation-based services category is the fastest growing segment of the Gig Economy industry

Market Dynamics of Gig Economy Market

Key Drivers for Gig Economy Market

Changing work approach driving the gig economy

The shift in work approach, particularly among younger generations, is a key driver of the gig economy. Millennials and Gen Z are prioritizing work that aligns with their passions and interests, seeking flexibility and autonomy over traditional career paths. The shift is majorly driven by the desire for work-life balance, alternate income sources and ability to work remotely, from anywhere. This shift has been on the rise particularly since the global pandemic that had pushed people to work from their homes and across various digital platforms. Businesses are embracing the flexible work arrangements to reduce costs and access specialized skills.

For instance,

Global research from the World Employment Confederation (WEC) finds that 83% of senior executives say that, since the pandemic, workers place as much value on flexibility in terms of when and where they work as on compensation.
A 2022 LinkedIn survey found that Gen Z workers were the cohort most likely to have left a role because of a perceived lack of flexibility (72% fell into this category, compared with 69% of Millennials, 53% of Gen X and 59% of Baby Boomers).
53% of Gen Z workers who freelance are moving away from traditional 9-to-5 jobs in favor of full-time freelancing.

(Source:https://insights.wecglobal.org/the-work-we-want/home/workplace-policy-younger-generations#:~:text=For%20example%2C%20new%20global%20research,the%20priorities%20of%20younger%20people. )

(Source: https://www.upwork.com/resources/gig-economy-statistics )

The digitalization of work is fueling demand for more gigs

Driven by technological advances and the increasing digitalization of skills and processes, the gig economy has expanded rapidly, by making work accessible to more people around the globe. The rise of online marketplaces like Upwork, Uber and Fiverr have made it easier for freelancers to find work and for companies to access a more flexible workforce. Improved technology and digital infrastructure have further made it easier and cheaper to connect with gig workers. The rise of e-commerce platforms and on-demand services such as ride-sharing, food delivery rely majorly on gig workers, contributing significantly to the growth of gig economy. Digital tools like instant messaging and video conferencing along with collaborative platforms like slack, MS Teams make it easy for employees to communicate from anywhere at any time.

With Artificial intelligence (AI) becoming one of the fastest-growing sectors and skill sets for independent professionals, AI has contributed to the growth of gig economy. AI is significantly impacting the gig economy by automating tasks, improving matching of workers and jobs. AI powered platforms also help streamline the recruitment process for businesses, by matching candidates with suitable projects based on skills, experience and availability.

For instance,

95% of respondents said generative AI makes them more competitive an...

In 2024, the employment rate of the workforce of 55 years and older decreased to 37.3 percent. Employment rate among young adults (age 16-24) was at 50.9 percent in 2024. For monthly updates on employment in the United States visit the annual national employment rate here.

In 2023, Mondelez International employed about 79,000 people outside the United States (U.S.). The total company's workforce amounted to about 91,000 employees as of December 31, 2023. This constitutes no notable change in comparison to the previous year. Market segments of Mondelez International Mondelez International is among the top three leading confectionery companies worldwide. The company offers products in various market segments. Biscuits, baked snacks, and chocolate products generate the lion’s share of Mondelez’s net revenue by sector, making up a total of almost 80 percent of the company’s revenue. The remaining 20 percent of the company’s revenue is generated from product sales of gum, candy, cheese, other grocery products, and beverages. Mondelez’s market share in the U.S. confectionery market is just over four and a half percent. Hershey, Mars, and Ferrero & related parties are among the leading competitors in that market. Gum market in the United States In the U.S. gum market, Mondelez's market share is more than 16 percent. This is the second-largest market share among leading U.S. gum companies. The market leader Mars, Inc. holds a market share of more than half of the entire market. U.S. retail sales of chewing gum amounted to nearly 2.6 billion U.S. dollars, while bubble gum generates sales of nearly 229 million U.S. dollars. The most popular gum category among American consumers across almost all generations is mint. Fruit gum is as popular with generation Z as mint. Half of younger Millennials prefer mint gum over fruit gum or bubblegum.

In 2023, about 17.7 percent of the American population was 65 years old or over; an increase from the last few years and a figure which is expected to reach 22.8 percent by 2050. This is a significant increase from 1950, when only eight percent of the population was 65 or over. A rapidly aging population In recent years, the aging population of the United States has come into focus as a cause for concern, as the nature of work and retirement is expected to change to keep up. If a population is expected to live longer than the generations before, the economy will have to change as well to fulfill the needs of the citizens. In addition, the birth rate in the U.S. has been falling over the last 20 years, meaning that there are not as many young people to replace the individuals leaving the workforce. The future population It’s not only the American population that is aging -- the global population is, too. By 2025, the median age of the global workforce is expected to be 39.6 years, up from 33.8 years in 1990. Additionally, it is projected that there will be over three million people worldwide aged 100 years and over by 2050.

Capgemini, a global leader in IT consulting and services, showcased its strong presence in the Asia Pacific region with over ******* employees in 2023. This represents a significant portion of the company's global workforce, which reached over *** thousand employees in the same year. The distribution of Capgemini's workforce across different regions highlights its global reach and strategic focus on key markets. (1195760) Europe at the center of Capgemini's operations While Asia Pacific led in employee numbers, Europe, Africa, and the Middle East followed closely with *** thousand employees in 2023. North America and Latin America had comparatively smaller workforces, with around ** thousand and ** thousand employees respectively. This regional distribution aligns with Capgemini's revenue generation, as Europe remained the company's largest market, contributing over **** billion euros in 2023. North America, despite its smaller workforce, generated a substantial *** billion euros in revenue, indicating high productivity in this region. Women grew stronger at Capgemini Capgemini's overall workforce expansion coincides with a growth in female representation. The company has seen a steady increase in female representation, with women comprising ** percent of its total workforce in 2023, up from ** percent in 2019. This trend is particularly noteworthy in executive leadership positions, where female representation has grown from around ** percent to ** percent over the same period.

In 2023, services contributed around 58.42 percent to South Korea's gross domestic product (GDP), while 31.59 percent came from South Korea’s industry sector, and a little less than two percent of South Korea’s GDP was generated by the country’s agriculture sector. South Korea’s services sector employed over 70 percent of the South Koreans workforce in 2018 . South Korea’s workforce Much of the over 51 million inhabitants of South Korea are employed, and the unemployment rate is expected to remain under four percent through 2024. South Korea is experiencing the effects of an aging labor force, with a decrease in population share of people entering the work force, and a simultaneous increase of the number of those aged 65 years and above. Despite that, the country’s economy has remained a powerhouse, growing at around 2.5 percent from 2018 to 2019. The South Korean economy South Korea is known as an economic success story; it rose from one of the poorest countries before the 1960’s to a developed country with a high income level. Overall, South Korea’s total GDP was estimated to be approximately 1.7 trillion U.S. dollars in 2019, and is expected to continue to increase through 2024. South Korea is considered to be one of the core economies driving the next generation of economic growth, alongside the BRIC countries (Brazil, Russia, India, and China).