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How many individuals use Upwork in 2024?
Upwork boasts over 12 million registered freelancers and nearly 5 million clients.
Let’s explore the number of users on Upwork for the year 2024.
Freelancing is increasingly appealing to workers as it offers enhanced flexibility regarding time and location.
Currently, Upwork stands as the largest marketplace for work globally, linking clients with freelance agencies and individual talents across various domains.
This widely-used freelancing platform serves as a comprehensive space where talents secure contracts directly from clients.
According to Upwork’s report from 2021, the company had a noteworthy year, achieving $3.5 billion in gross services volume, with revenue surging by 35% to $503 million.
How Many Individuals Use Upwork in 2024?
For those interested in the user statistics of Upwork, here’s what you need to know.
Currently, the platform has over 12 million registered freelancers and about 5 million clients.
In 2020, more than 145,400 core clients spent nearly $5,000 annually.
The United States, India, and the Philippines are the leading countries utilizing Upwork.
These three nations collectively represent 51.57% of Upwork’s total freelancer revenue, while other nations accounted for 48.43%, translating to $109.8 million.
Freelancers primarily generate Upwork’s revenue.
Together, they provide nearly two-thirds of the overall revenue, although clients, including enterprises and SMEs, incur fees related to administration, payment processing, service costs, memberships, and currency exchange.
History of Upwork
This freelancing platform was previously known as Elance-oDesk.
It emerged as a result of the merger between Elance Inc. and oDesk Corp. Elance Inc., established in 1998 in Jersey City, functioned as a platform for short-term jobs.
On the other hand, oDesk launched in 2003 as a staffing company and eventually transformed into an online marketplace allowing users to find, hire, and collaborate with remote workers.
In 2015, the platform adopted the name “Upwork,” coinciding with the rebranding of oDesk under a similar title.
That same year, brief outages occurred, prompting an apology from CEO Stephane Kasriel and leading to the creation of an Upwork Status page for better transparency for its clients and freelancers.
By 2017, the company had approximately 14 million users across 180 nations and over three million job postings totaling more than $1 billion.
In the following year, the company filed for an initial public offering, selling shares at $15 each. Today, the trading price per share is $17.50.
What is Upwork?
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The largest work marketplace globally for independent professionals and talents is Upwork.
It acts as a bridge connecting freelancers with clients from SMEs and businesses across varied sectors, such as development and IT, sales and marketing, admin and customer support, engineering and architecture, design and creative fields, writing and translation, finance and accounting, as well as legal services.
How Does Upwork Work?
On Upwork, clients can search for freelancers to assign projects to the selected candidate.
Clients will post job openings on the platform when they seek freelancers and will await proposals from qualified individuals.
Advanced algorithms on Upwork assist clients in narrowing down the best candidates suitable for the job they have posted.
Following the shortlist, clients can review the profiles, feedback, and portfolios of the selected freelancers and can opt to schedule an interview prior to finalizing the contract.
In addition to posting job offers and hiring talent, clients can also explore and purchase pre-planned projects.
They are no longer obligated to create job postings and sift through candidates. Instead, they can simply browse, select, and commence projects immediately.
Upwork Pro
A client may choose to utilize Upwork Pro for a quicker route when hiring the best candidate.
Clients will have to be flexible with their objectives and budget while Upwork will handle the recruitment process, providing a curated list of top candidates available.
Upwork Fees
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Talents and freelancers utilize Upwork to search for and secure suitable jobs.
To effectively connect with client qualifications, it’s essential for freelancers to build a compelling and client-centric profile before submitting proposals.
Once a job is secured, they have to decide on their payment method.
The service fees imposed by the platform are based on earnings from each client.
A 20% service fee applies to the first $500 earned, 10% for total billings between $500.01 and $10,000, and a 5% service fee for total billings exceeding $10,000.
No fees are incurred until the project assigned is completed.
Upwork Revenue
According to the Upwork report from 2020, the leading three countries utilizing the platform with the highest revenue generated from freelancers are the United States, India, and the Philippines.
Approximately 3,611 companies, predominantly from the IT sector in the United States, use this platform.
Some notable companies include Search Engine Optimization, Inc., Investopedia, LLC, Valtech SE, and Blackfriars Group.
Here’s a look at Upwork’s revenue throughout the years:
2016 – the platform earned $166 million in annual revenue
2017 – the platform earned $202 million in annual revenue
2018 – the platform earned $235 million in annual revenue
2019 – the platform earned $300 million in annual revenue
2020 – the platform earned $373 million in annual revenue
List of Top Jobs Listed in Upwork
The majority of the most sought-after jobs and skills available on Upwork stem from the Information Technology and Service sector due to the abundance of opportunities in IT and technological advancements.
Below is a list of the most demanded jobs and skills on Upwork as of 2021:
1. Machine Learning
2. Automation
3. Data Analytics Skills
4. Mobile Application Skills
5. Virtual Reality Skills
6. Video Production
7. Search Engine Optimization
8. Product Management
9. Data Entry
10. Web and App Development
11. Bookkeeping
12. Content Writing
Average Age of Freelancers
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Research indicates that in the United States, the average age of 9,776 freelancers is 37.
Freelancers in India typically fall within the age range of 18 to 34 years, whereas most freelancers from the Philippines are aged less than 35 years.
Anyone aged 18 and above is eligible to begin freelancing, regardless of their age; what truly matters are the experience and skills.
Conclusion
The Upwork press release states that by 2027, freelancing is expected to form a significant part of the workforce in the United States.
Every year, the number of skilled freelancers consistently grows, with a substantial portion of them being under the age of 37.
This trend reflects the increasing number of workers prioritizing flexible work environments that provide the autonomy often absent in traditional 9-to-5 positions.
Thank you for taking the time to read our article regarding the number of Upwork users in 2024.
Sources
We appreciate you reading this article titled: How Many People Use Upwork in 2024? (User & Revenue Stats)
The data is from the years 2023 and 2024, with projections for 2025 and 2026, which have been further extended to 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Africa, Antarctica, Asia, Europe, North America, Australia (Oceania), Middle East, South America.
Post Title: How Many People Use Upwork in 2024? (User & Revenue Stats)
Last Updated: September 25, 2024
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66fb9dab58844b7f9aedf35ab00374e7&url=https%3A%2F%2Fhollywoodgazette.com%2Fupwork-users%2F&c=6671198888483935124&mkt=de-de
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Publish date : 2024-09-30 23:35:00
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