Crowdsourcing Platform Market in the US – Size, Forecast, and Competitive Landscape: Explore EPWK Holdings’ US Potential

Market Outlook: Crowdsourcing Platform Market in the US 2025-2029

The crowdsourcing platform market in the US is rapidly growing, driven by increasing demand for innovative solutions in areas such as funding, idea generation, and problem-solving, with platforms enabling businesses and individuals to leverage collective intelligence and resources for diverse purposes. The market is expected to grow by USD 5-9 billion at a CAGR of 10%-13% between 2025 and 2029. Exact values for this market can be accessed upon purchasing the report. Key companies in this market include:

• Freelancer.com
• Upwork
• Figure Eight
• Kickstarter
• Indiegogo
• GoFundMe

IPO Company Overview: EPWK Holdings in the US crowdsourcing platform market

EPWK Holdings is set to launch its IPO on the Nasdaq Global Market in February 2025 under the ticker symbol EPWK, creating a new opportunity for investors. EPWK Holdings is a dynamic leader in the crowdsourcing platform market, offering innovative solutions that connect businesses, individuals, and organizations with a global network of freelance talent and resources. By leveraging cutting-edge technology, EPWK Holdings enables users to access a wide range of crowdsourced services, from data collection and idea generation to funding and problem-solving. With a growing presence in the U.S. market, EPWK Holdings is committed to revolutionizing how businesses engage with crowdsourcing, offering scalable solutions across various industries.

Market Segmentation: How is the US crowdsourcing platform market segmented?

Application

• Task-based Crowdsourcing
• Fundraising
• Crowdsourced Testing
• Gig Economy Platforms
• Others

Deployment Mode

• Cloud-based
• On-premises

Gig economy platforms, such as Upwork, Freelancer.com, and Fiverr, are a leading segment of this market as they connect businesses with skilled freelance professionals for project-based work. These platforms offer flexibility, scalability, and access to a global talent pool, making them particularly appealing to companies seeking cost-effective, on-demand workforce solutions. Crowdfunding platforms also make up a key segment of the market, being highly popular among entrepreneurs and startups for raising capital while engaging with a supportive community.

Investment Opportunities: Why explore the US crowdsourcing platform market with Technavio?

Recent developments in the U.S. crowdsourcing platform market highlight the increasing demand for flexible, scalable, and cost-effective solutions across various industries. As businesses seek to tap into the collective intelligence of a global workforce, crowdsourcing platforms have become critical tools for funding, data collection, creative problem-solving, and innovation. Platforms like Kickstarter, GoFundMe, and Indiegogo continue to lead the crowdfunding space, while freelance marketplaces such as Upwork and Freelancer.com are thriving as more companies turn to remote talent to meet their evolving needs. The rise of AI and machine learning technologies in crowdsourcing platforms also offers businesses sophisticated tools to harness human intelligence for tasks like data labeling, sentiment analysis, and content creation.

Moreover, the ongoing trend toward digital transformation has fueled the growth of crowdsourcing platforms by making them more accessible and user-friendly. With advancements in blockchain technology, many platforms are also exploring decentralized models, which promise increased transparency, security, and efficiency for both creators and backers. In addition, the COVID-19 pandemic has accelerated the adoption of online platforms, particularly in the gig economy, where flexible work arrangements and project-based employment have become more prevalent. As a result, crowdsourcing platforms are expected to play an even more significant role in reshaping how businesses and individuals collaborate, innovate, and solve complex challenges in the years to come.

Market Dynamics: What factors are influencing the crowdsourcing platform market in the US?

Drivers:
The crowdsourcing platform market in the U.S. is being driven by the increasing demand for flexible work solutions, cost-effectiveness, and access to a global pool of talent. Businesses are looking to reduce overhead costs while tapping into specialized skills for short-term projects, which has made freelance and gig economy platforms like Upwork and Fiverr highly attractive. Additionally, the rise of digital platforms has made it easier for entrepreneurs and creators to fund their ideas through crowdfunding models, bypassing traditional investment channels. The growing acceptance of remote work and collaboration further fuels the expansion of crowdsourcing as a versatile business solution.

Trends:
A major trend in the U.S. crowdsourcing platform market is the continued integration of artificial intelligence (AI) and automation to improve efficiency and user experience. Platforms are leveraging AI for tasks like matching freelancers with jobs, optimizing project management, and enhancing decision-making in crowdfunding campaigns. Additionally, there is a noticeable shift towards decentralized crowdfunding models, using blockchain technology to enhance transparency and trust. The gig economy continues to grow, with more companies using crowdsourcing to quickly scale their workforce and complete projects in a more agile manner, especially within tech, creative, and service-based industries.

Opportunities:
The crowdsourcing platform market presents opportunities in expanding specialized niches, such as crowdsourced data analytics, crowdsourced testing, and micro-tasking. As companies increasingly rely on data-driven insights, platforms that facilitate crowdsourced data collection, labeling, and analysis can cater to industries like AI, healthcare, and finance. Furthermore, with the rise of remote work and digital transformation, there's a growing opportunity for platforms to offer more industry-specific solutions, such as design, marketing, or software development. Additionally, the growing adoption of blockchain technology in crowdfunding could unlock new ways for investors and creators to interact securely and transparently.

Challenges:
Despite the opportunities, the crowdsourcing platform market faces challenges, including concerns over quality control, competition, and trust. For businesses, vetting and ensuring the quality of freelancers or contributors can be difficult, leading to potential inconsistencies in deliverables. In crowdfunding, some platforms struggle with fraud prevention and ensuring that backers receive the rewards or returns promised. There are also concerns regarding the sustainability of the gig economy model, as workers may face job insecurity, lack of benefits, and inadequate compensation. Finally, regulatory issues around worker classification and platform operations pose challenges for companies to navigate as they grow and scale.

Investment Questions: Topics to consider when investing in the crowdsourcing platform market in the US

What is the market growth potential for crowdsourcing platforms?
Understanding the future growth prospects of the market, driven by trends such as the gig economy, remote work, and digital transformation, is essential for assessing long-term investment potential.

How competitive is the platform landscape?
Investors should analyze the competitive landscape to identify the key players, emerging platforms, and potential disruptors in the market. Understanding how a platform differentiates itself, whether through unique features, services, or niche offerings, can provide insight into its competitive edge.

What is the platform’s user acquisition strategy?
It's important to evaluate how a crowdsourcing platform attracts and retains users, whether through targeted marketing, network effects, or strong brand loyalty. The scalability of the platform’s user base can be a critical driver of long-term success.

What is the platform’s monetization model?
Understanding how the platform generates revenue—through transaction fees, subscription models, or advertising—is crucial for assessing its financial sustainability and profitability potential. Evaluating the platform's pricing strategy and scalability is also essential.

How does the platform ensure quality control and trust?
For crowdsourcing platforms, especially in freelance and crowdfunding segments, trust and quality are key factors. Investors should consider how the platform addresses concerns like fraud, the quality of work, and ensuring fairness between creators, backers, and workers.

What are the regulatory risks associated with the platform?
Crowdsourcing platforms, especially those in the gig economy or crowdfunding space, may face regulatory scrutiny regarding labor laws, worker classification, and financial transparency. Understanding the potential for future regulatory changes and compliance challenges is essential.

For a detailed analysis of the crowdsourcing platform market in the US, buy the full report

Technavio Report Insights: How Can Technavio Reports Help Investors Make Better Business Decisions?

Key Features of a Technavio Report: 

• Comprehensive Market Analysis: Provides a detailed overview of the crowdsourcing platform market in the US, including market size, growth rate, segmentation, and regional analysis. 

• In-Depth Competitive Landscape: Offers insights into the competitive dynamics, market share and positioning, and product offerings of key players. 

• Future Market Trends: Identifies emerging trends and opportunities that can shape the future of the market. 

• Detailed Segmentation: Breaks down the market into various segments to help investors identify specific niches and target markets. 

• Expert Analysis: Provides expert insights and forecasts from industry analysts

FAQ

1. What is crowdsourcing, and how does it work?
Crowdsourcing is the practice of obtaining input, services, or funding from a large number of people, typically via an online platform. It allows businesses, organizations, or individuals to leverage collective intelligence or resources to complete tasks, fund projects, or solve problems, often at a lower cost and with greater efficiency than traditional methods.

2. What are the key trends in the U.S. crowdsourcing platform market?
Key trends include the increasing adoption of AI and automation to enhance platform efficiency, the growth of decentralized platforms using blockchain for transparency, the rise of micro-tasking and gig economy platforms, and greater integration of crowdsourcing in product development, data collection, and research.

3. How do crowdsourcing platforms make money?
Crowdsourcing platforms typically generate revenue through various models, such as charging a transaction fee for services provided (freelance platforms), taking a percentage of funds raised (crowdfunding), or subscription-based models. Some platforms may also generate revenue through advertising, premium services, or offering value-added features.

4. What is the future outlook for the U.S. crowdsourcing platform market?
The future of the crowdsourcing platform market in the U.S. looks promising, with continued growth driven by advances in technology, increasing adoption of remote and flexible work, and the need for innovative solutions across industries. Platforms are expected to evolve with more decentralized models, greater automation, and new services catering to niche markets. However, regulatory and market challenges will need to be addressed for long-term success.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Global Market Characteristics
  • Executive Summary - Chart on Market by Geography
  • Executive Summary - Chart on Market Segmentation
  • Executive Summary - Chart on Incremental Growth
  • Executive Summary - Data Table on Incremental Growth
  • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

• 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

• 2.2 Criticality of inputs and factors of differentiation
  • Overview on criticality of inputs and factors of differentiation

• 2.3 Factors of disruption
  • Overview on factors of disruption

• 2.4 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

• 3.1 Market ecosystem
  • Parent Market
  • Data Table on - Parent Market

• 3.2 Market characteristics
  • Market characteristics analysis

• 3.3 Value chain analysis
  • Value chain analysis

4 Market Sizing

• 4.1 Market definition
  • Offerings of companies included in the market definition

• 4.2 Market segment analysis
  • Market segments

• 4.3 Market size 2024

• 4.4 Market outlook: Forecast for 2024-2029
  • Chart on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Chart on Global Market: Year-over-year growth 2024-2029 (%)
  • Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

• 5.1 Global Market 2019 - 2023
  • Historic Market Size - Data Table on Global Market 2019 - 2023 ($ billion)

• 5.2 Segment Analysis 2019 - 2023
  • Historic Market Size – Segment Analysis 2019 - 2023 ($ billion)

• 5.4 Geography segment analysis 2019 - 2023
  • Historic Market Size - Geography Segment 2019 - 2023 ($ billion)

6 Qualitative Analysis

• 6.1 Impact of AI on the Global Market

7 Five Forces Analysis

• 7.1 Five forces summary
  • Five forces analysis - Comparison between 2024 and 2029

• 7.2 Bargaining power of buyers
  • Bargaining power of buyers - Impact of key factors 2024 and 2029

• 7.3 Bargaining power of suppliers
  • Bargaining power of suppliers - Impact of key factors in 2024 and 2029

• 7.4 Threat of new entrants
  • Threat of new entrants - Impact of key factors in 2024 and 2029

• 7.5 Threat of substitutes
  • Threat of substitutes - Impact of key factors in 2024 and 2029

• 7.6 Threat of rivalry
  • Threat of rivalry - Impact of key factors in 2024 and 2029

• 7.7 Market condition
  • Chart on market condition - Five forces 2024 and 2029

8 Market Segmentation

• 8.1 Market segments
  • Chart on Segmentation - Market share 2024-2029 (%)
  • Data Table on Segmentation - Market share 2024-2029 (%)

• 8.2 Segment Comparison
  • Chart on Comparison
  • Data Table on Comparison

• 8.3 Segment Market Opportunity
  • Market opportunity ($ billion)
  • Data Table on Market Opportunity ($ billion)

9 Customer Landscape

• 9.1 Customer landscape overview
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Geographic Landscape

• 10.1 Geographic segmentation
  • Chart on market share by geography 2024-2029 (%)
  • Data Table on market share by geography 2024-2029 (%)

• 10.2 Geographic comparison
  • Chart on Geographic comparison
  • Data Table on Geographic comparison

• 10.3 Market opportunity by geography
  • Market opportunity by geography ($ billion)
  • Data Tables on Market opportunity by geography ($ billion)

11 Drivers, Challenges, and Opportunity/Restraints

• 11.1 Market drivers

• 11.2 Market challenges

• 11.3 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

• 11.4 Market opportunities/restraints

12 Competitive Landscape

• 12.1 Overview

• 12.2 Competitive Landscape
  • Overview on criticality of inputs and factors of differentiation

• 12.3 Landscape disruption
  • Overview on factors of disruption

• 12.4 Industry risks
  • Impact of key risks on business

13 Competitive Analysis

• 13.1 Companies profiled
  • Companies covered

• 13.2 Company ranking index
  • Company ranking index

• 13.3 Market positioning of companies
  • Matrix on companies position and classification

14 Appendix

• 14.1 Scope of the report

• 14.2 Inclusions and exclusions checklist
  • Inclusions checklist
  • Exclusions checklist

• 14.3 Currency conversion rates for US$
  • Currency conversion rates for US$

• 14.4 Research methodology
  • Research methodology

• 14.5 Data procurement
  • Information sources

• 14.6 Data validation
  • Data validation

• 14.7 Validation techniques employed for market sizing
  • Validation techniques employed for market sizing

• 14.8 Data synthesis
  • Data synthesis

• 14.9 360 degree market analysis
  • 360 degree market analysis

• 14.10 List of abbreviations
  • List of abbreviations