The gig economy is a growing sector. Even before the pandemic, the gig economy was projected to increase the value generated from $204 billion in 2018 to $455 billion in 2023. Furthermore, some projections indicate that in 2027, 60% of the US labor market will consist of independent workers.
Several factors favor the emergence of gig companies:
- Increased unemployment
- The growth of social media
Here at the Future of Work Institute we ran our own analysis and set out to discover some of the gig companies emerging in 2020.
Some sectors within which gig startups emerge include freelance work (18 companies), delivery services (15 companies), health (7 companies), online education (17 companies), user activity analytics (7 companies), survey platforms (1 company).
However, our research just scratches the surface. For example, some sources point out that online mental health companies were already on the rise before the pandemic and that in 2020 it is expected that there will be at least 1000 mental health startups.