IT Staffing Market in US - Industry Outlook and Forecast 2019-2024

IT Staffing Market in US - Industry Outlook and Forecast 2019-2024

The US IT staffing market is expected to reach around $39 billion by 2024, growing at a CAGR more than 3% during 2018–2024.

A resurgent US economy, along with consistently low staffing levels is a major factor for IT staffing firms. Further, high billing rates and increasing use of social media recruitment platforms are major drivers driving millennials toward top-notch IT jobs. As modern-day job aspirants –millennials are tech-savvy and are adept at the social media websites; they prefer unconventional modes for job recruitments. US IT staffing market is driven by the evolving IT industry, technological advancements, and investments. Increased revenue opportunities are projected to drive the IT recruitment sector.

This market research report covers market sizing and forecast, market shares, industry trends, growth drivers, and vendor analysis of the US IT Staffing Market. The market study includes insights on segmentation by skillset (software engineers, developers/DevOps, project managers, business/ system analysts, helpdesk/technical support professionals, software architects, QA& software testers, networking and security experts, data analytics and cloud computing scientists, and mobile application developers), end-user (tech/telecom, BFSI, healthcare, manufacturing,) and others (pharma/biotech/medical devices, government, public administration, retail, energy, transportation, and warehousing among others).

The report considers 2018 as the base year and provides in-depth information about the existing market growth enablers, restraints, and trends. It also features details and information about recent IT advancements in the staffing market, skill set demand, and technologies used in the US IT staffing market.

US IT Staffing Market: Dynamics

Abolishing gender cobwebs and bringing diversity in workplaces is growing among IT organizations

Nowadays, recruitment firms are focusing on inclusivity and diversity in their recruitment processes. Firms are no longer obsessed with seeing “man” at the top management positions. IT companies with progressive work outlook are doing away with their gender-biased notions and are consistently bringing dynamism in their workplaces. Upholding the balance of genders among organizations is increasing among recruiters and hiring leaders.

The introduction of the data-driven recruitment process is a significant growth trend witnessed in the US IT staffing market. IT staffing firms continuously focus on expanding and enhancing the quality of their databases and the applicant tracking system available with them to meet the client’s demand efficiently.

Millennials account for more than 1/3rd of the US workforce, thereby constituting a major segment of the modern-day workforce. More than 50% millennials in the US work in professional and business services. The percentage of women (close to 46%) against men (close to 54%) in the millennial workforce across the US strongly indicates the blend of genders in the current work environment.

US IT Staffing Market: Segments

This market research report includes a detailed segmentation of the market by skill sets and end-users.

The US IT staffing market by skill sets majorly includes software engineers/developers/DevOps, project managers, business/system analysts, software architects, QA/testers, networking and security experts, data analytics and cloud computing scientists, mobile applications developers. The software engineers/developers/devOps segment accounted for the highest revenue in the IT job market in 2018. The demand for software engineers, mobile application developers, and software architects remained high in 2018. DevOps is another crucial skill set, which helps in the automation of software development and IT operations.

The US IT staffing market by end-users is divided into tech/telecom, BFSI, healthcare, manufacturing, and others (pharma/biotech/medical devices, government, public administration, retail, energy, transportation, and warehousing). The US IT staffing market in the US by tech/telecom industry is expected to grow at a CAGR of around 3% during the forecast period.

The telecom industry is actively looking for trained IT professionals for running IoT and upcoming 5G technology and working for cross-industry associations such as mPayment and mHealth. Cloud computing, IT support skills, networking, programming knowledge, and cybersecurity are key skill sets, which are expected to witness demand in the coming years

Market Segmentation by Skill Sets

  • Software Engineers/Developers/DevOps
  • Project Managers
  • Business/Systems Analysts
  • Help Desk/Technical SupportProfessionals
  • Software Architects
  • QA/Testers
  • Networking and Security Experts
  • Data Analytics and Cloud Computing Scientists
Market Segmentation by End-user
  • BFSI
  • Healthcare
  • Manufacturing
  • Others
Key Vendor Analysis:

The US IT staffing market is one of the most highly fragmented markets across the diverse verticals of staffing. The market majorly depends on improving US economy. It has comparatively low entry barriers that push vendors toward project innovation and differentiation. Vendors try to gain an edge over their competitors through differentiated offerings, which could be an efficient applicant tracking system or a region-specific market expansion strategy.

Major vendors in the market are
  • TEKsystems (Allegis Group)
  • ASGN Incorporated
  • Insight Global
  • Randstad
  • Kforce
Other prominent vendors are Acro ServicesCorporation, Alku, American Cybersystems, Artech Information Systems, Beacon Hills Staffing, BG Staffing, Collabera, Compunnel Software Group, Consulting Solutions International, Digital Intelligence Systems, Diversant, Experis, Modis, Mastech Digital, Matrix Resources, Midilance, NTT Data, Optomi, Robert Half International, Rose International, Signature Consultants, System One, Vaco, VincentBenjamin, and vTech Solutions.

Key Market Insights

1. Offers market sizing and growth prospects of the US IT staffing market for the forecast period 2019−2024

2. Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the US IT staffing market

3. Includes a detailed analysis of market growth drivers, challenges, and investment opportunities

4. Delivers a complete overview of market segments and the regional outlook of the US IT staffing market

5. Offers an exhaustive summary of the vendor landscape, competitive analysis, and critical market strategies to gain a competitive advantage in the US IT staffing market

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Skill Set
4.4.2 Market Segmentation by End-users
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market At A Glance
7 Introduction
7.1 Overview
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Digital Embracement Driving Staffing Transformation
8.1.2 Freelance & GIG Economy Expansion
8.1.3 Growing Relevance of Referrals
8.1.4 Diversity & Data-driven Recruitment
8.2 Market Growth Restraints
8.2.1 Subdued Immigration Outlook
8.2.2 Existence of Stringent Government Regulations
8.2.3 Scarcity of Skilled Workforce
8.3 Market Opportunities & Trends
8.3.1 IT Spending Bolstering Staffing Market
8.3.2 Leveraging Automation for Differentiation
8.3.3 Millennials Transforming IT Workforce
8.3.4 Holistic Branding to Reshape Staffing
9 Supply Chain Analysis
9.1 Overview of Staffing Process
9.1.1 Search Specification
9.1.2 Screening
9.1.3 Evaluation
9.1.4 Interview Scheduling
9.1.5 Eventual Offer
9.1.6 Appropriate Closure
10 Market Landscape
10.1 US: Staffing Market Overview
10.2 US: IT Staffing Market
10.2.1 Historical Data 2000−2017
10.2.2 Market Size & Forecast 2018−2024
10.3 Five Forces Analysis
10.3.1 Threat of New Entrants
10.3.2 Bargaining Power of Suppliers
10.3.3 Bargaining Power of Buyers
10.3.4 Threat of Substitutes
10.3.5 Competitive Rivalry
11 By Skill Set
11.1 Market snapshot & Growth Engine
11.2 Market Overview
11.3 Software Engineers/Developers/DevOps
11.3.1 Market Size & Forecast 2018–2024
11.4 Project Management
11.4.1 Market Size & Forecast 2018–2024
11.5 Business/Systems Analyst
11.5.1 Market Size & Forecast 2018–2024
11.6 Help Desk/Technical Support
11.6.1 Market Size & Forecast 2018–2024
11.7 Software Architect
11.7.1 Market Size & Forecast 2018–2024
11.8 QA/Testing
11.8.1 Market Size & Forecast 2018–2024
11.9 Networking
11.9.1 Market Size & Forecast 2018–2024
11.10 Security
11.10.1 Market Size & Forecast 2018–2024
11.11 Data Analytics
11.11.1 Market Size & Forecast 2018–2024
11.12 Cloud Computing
11.12.1 Market Size & Forecast 2018–2024
11.13 Mobile APP Development & Support
11.13.1 Market Size & Forecast 2018–2024
12 By End-User Industries
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Tech/Telecom
12.3.1 Market Size & Forecast
12.4 BFSI
12.4.1 Market Size & Forecast
12.5 Healthcare
12.5.1 Market Size & Forecast
12.6 Manufacturing
12.6.1 Market Size & Forecast
12.7 Others
12.7.1 Market Size & Forecast
13 Competitive Landscape
13.1 Competition Overview
13.2 Market Vendor Analysis
13.2.1 Market Share Analysis
14 Key Company Profiles
14.1 TEKsystems (Allegis Group)
14.1.1 Business Overview
14.1.2 Major Service Offerings
14.1.3 Key Strengths
14.1.4 Key Strategies
14.1.5 Key Opportunities
14.2 ASGN Incorporated
14.2.1 Business Overview
14.2.2 Major Service Offerings
14.2.3 Key Strengths
14.2.4 Key Strategies
14.2.5 Key opportunities
14.3 Insight Global
14.3.1 Business Overview
14.3.2 Major Service Offerings
14.3.3 Key Strengths
14.3.4 Key Strategies
14.3.5 Key opportunities
14.4 Randstad
14.4.1 Business Overview
14.4.2 Major Service Offerings
14.4.3 Key Strengths
14.4.4 Key Strategies
14.4.5 Key opportunities
14.5 Kforce
14.5.1 Business Overview
14.5.2 Major Service Offerings
14.5.3 Key Strengths
14.5.4 Key Strategies
14.5.5 Key opportunities
15 Other Prominent Vendors
15.1 Acro Service Corporation
15.1.1 Business Overview
15.1.2 Key Strategies
15.2 ALKU
15.2.1 Business Overview
15.2.2 Key Strategies
15.3 American CyberSystems
15.3.1 Business Overview
15.3.2 Key Strategies
15.4 Artech Information Systems
15.4.1 Business Overview
15.4.2 Key Strategies
15.5 Beacon Hill Staffing
15.5.1 Business Overview
15.5.2 Key Strategies
15.6 BG Staffing
15.6.1 Business Overview
15.6.2 Key Strategies
15.7 Collabera
15.7.1 Business Overview
15.7.2 Key Strategies
15.8 Compunnel Software Group
15.8.1 Business Overview
15.8.2 Key Strategies
15.9 Consulting Solutions International
15.9.1 Business Overview
15.9.2 Key Strategies
15.10 Digital Intelligence Systems
15.10.1 Business Overview
15.10.2 Key Strategy
15.11.1 Business Overview
15.11.2 Key Strategies
15.12 Experis
15.12.1 Business Overview
15.12.2 Key Strategies
15.13 Modis
15.13.1 Business Overview
15.13.2 Key Strategies
15.14 Mastech Digital
15.14.1 Business Overview
15.14.2 Key Strategies
15.15 Matrix Resources
15.15.1 Business Overview
15.15.2 Key Strategies
15.16 Mindlance
15.16.1 Business Overview
15.16.2 Key Strategies
15.17 NTT DATA
15.17.1 Business Overview
15.17.2 Key Strategies
15.18 Optomi
15.18.1 Business Overview
15.18.2 Key Strategies
15.19 Robert Half International
15.19.1 Business Overview
15.19.2 Key Strategies
15.20 Rose International
15.20.1 Business Overview
15.20.2 Key Strategies
15.21 Signature Consultants
15.21.1 Business Overview
15.21.2 Key Strategies
15.22 System One
15.22.1 Business Overview
15.22.2 Key Strategies
15.23 VACO
15.23.1 Business Overview
15.23.2 Key Strategies
15.24 VincentBenjamin
15.24.1 Business Overview
15.24.2 Key Strategies
15.25 vTech Solution
15.25.1 Business Overview
15.25.2 Key Strategies
16 Report Summary
16.1 Key Takeaways
16.2 Strategic Recommendations
16.3 Quantitative Summary
16.3.1 Skill Sets
16.3.2 End-users
17 Appendix
17.1 Abbreviations
List of Exhibits
Exhibit 1 Segmentation of IT Staffing Market in US
Exhibit 2 Market Size Calculation Approach 2018
Exhibit 3 IT Staffing Market in US: Overview
Exhibit 4 Impact of Digital Embracement Driving Staffing Transformation
Exhibit 5 Impact of Freelance & GIG Economy Expansion
Exhibit 6 Impact of Growing Relevance of Referrals
Exhibit 7 Impact of Diversity & Data-driven Recruitment
Exhibit 8 Impact of Subdued Immigration Outlook
Exhibit 9 Impact of Existence of Stringent Government Regulations
Exhibit 10 Impact of Scarcity of Skilled Workforce
Exhibit 11 Average Recruiting Difficulty by Skill Set (Scale of 1–5)
Exhibit 12 Impact of IT Spending Bolstering Staffing Market
Exhibit 13 Impact of Leveraging Automation for Differentiation
Exhibit 14 Extent of Automation Used in Recruiting by IT Staffing Firms (2018)
Exhibit 15 Impact of Millennials Transforming IT Workforce
Exhibit 16 Communication Channel Preferences by Millennial vs. Gen X
Exhibit 17 Impact of Holistic Branding to Reshape Staffing
Exhibit 18 Supply Chain Process in Staffing Industry
Exhibit 19 US GDP Growth Rate Changes Q1 2016–Q4 2018
Exhibit 20 US Unemployment Rate from January 2018–2019
Exhibit 21 Temporary and Contract Staffing Market in US 2005−2017 ($ billion)
Exhibit 22 Temporary and Contract Staffing in US 2005–2017 (million)
Exhibit 23 IT Staffing Market in US 2000−2017 ($ billion)
Exhibit 24 Segmentation of IT Sector Categories in US
Exhibit 25 Number of Tech Jobs in the US (million)
Exhibit 26 IT Staffing Market in US 2018−2024 ($ billion)
Exhibit 27 Five Force Analysis 2018
Exhibit 28 Incremental Growth by Skill Set 2018–2024 (Revenue)
Exhibit 29 IT Staffing in US by Skill Set: Overview
Exhibit 30 US IT Staffing Market Share by Skill Set 2018 (%)
Exhibit 31 Market by Software Engineers/Developers/DevOps 2018–2024 ($ billion)
Exhibit 32 Market by Project Management 2018–2024 ($ billion)
Exhibit 33 Market by Business/Systems Analysts 2018–2024 ($ billion)
Exhibit 34 Market by Help Desk/Technical Support 2018–2024 ($ billion)
Exhibit 35 Depiction of Proficiency Transformation Across Help Desk/Technical Support Team
Exhibit 36 Market by Software Architect 2018–2024 ($ billion)
Exhibit 37 Market by QA/Testing 2018–2024 ($ billion)
Exhibit 38 Market by Networking 2018–2024 ($ billion)
Exhibit 39 Market by Security 2018–2024 ($ billion)
Exhibit 40 Market by Data Analytics 2018–2024 ($ billion)
Exhibit 41 Market by Cloud Computing 2018–2024 ($ billion)
Exhibit 42 Market by Mobile App Development & Support 2018–2024 ($ billion)
Exhibit 43 Incremental Growth by End-user Industries 2018–2024
Exhibit 44 US IT Staffing Market by End-user Industries (%)
Exhibit 45 Market by Tech/Telecom 2018−2024 ($ billion)
Exhibit 46 Market by BFSI 2018−2024 ($ billion)
Exhibit 47 Market by Healthcare 2018−2024 ($ billion)
Exhibit 48 Market by Manufacturing 2018−2024 ($ billion)
Exhibit 49 Market by Other Sectors 2018−2024 ($ billion)
Exhibit 50 Increasing Concentration of Market Share 2008 and 2018
Exhibit 51 IT Staffing Market in US by Vendor Share Analysis 2018
Exhibit 52 Kforce Revenue Share by Segment 2017 (%)
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2018
Table 3 Worldwide Spending on IT by Various Categories ($ billion)
Table 4 Holistic Staffing Strategies for Clients and Candidates
Table 5 Increase in Salary by Skill Set (%)
Table 6 US Regions with Median Total Compensation for Software Engineers in 2018
Table 7 US States with Highest Percentage of Developers in 2018
Table 8 Top 10 US States Suitable for Business Analysts in 2018
Table 9 Top 5 Metropolitan Areas in US with Maximum Cybersecurity Job Openings 2018
Table 10 TEKsystems (Allegis Group): IT Staffing Offerings
Table 11 ASGN Incorporated: IT Staffing Offerings
Table 12 Insight Global: IT Staffing Offerings
Table 13 Randstad: IT Staffing Offerings
Table 14 Kforce: IT Staffing Offerings
Table 15 IT Staffing Market in US by Skill Set ($ billion)
Table 16 IT Staffing Market in US by Skill Set (%)
Table 17 IT Staffing Market in US by End-User Industries ($ billion)
Table 18 IT Staffing Market in US by End-User Industries (%)

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