New Report: Crowdsourcing Enjoys Spectacular Growth
The first comprehensive report on the enterprise crowdsourcing industry has revealed it to be in a very healthy state.
The study was compiled by research firm massolution and collected data from 32 Crowdsourcing Service Providers (CSPs). The results revealed that crowdsourcing continued to demonstrate growth in 2011, with revenues increasing over 75% when compared to 2010.
The CSP respondents came from all the key categories of the crowdsourcing market place including freelance platforms, expertise-base tasks and micro-tasks.
The report is also a powerful argument against those critics of crowdsourcing who believe that it is just the transfer of low-skill work to low-cost locations. Research revealed that nearly 60% of crowd workers live in Europe or North America and that almost 50% have at least a bachelor degree.
Other significant findings include:
- Crowd worker number is growing in excess of 100% per year
- More than three quarters of crowd workers have a primary job
- Crowd members work on crowd activities at least once a month; about half work once a day
According to the report’s authors crowdsourcing growth has been fuelled by the aggressive adoption of crowdsourcing within the Internet Services, Media and Entertainment and Technology sectors.
“The crowdsourcing market is growing at an accelerated rate with the venture capital community investing nearly $300 million in CSPs in 2011 alone,” said massolution CEO and founder of Crowdsourcing.org, Carl Esposti. “What’s more surprising is that large enterprises with revenues above $1B are early adopters of crowdsourcing; however, there is still significant untapped opportunity for crowdsourcing penetration across the board.”
To read more about the report and how crowdsourcing is continuing to make waves, there’s a good story that was recently published in the Wall Street Journal.
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