U.S. IT Staffing Market - Industry Outlook & Forecast 2023-2028

Description

The U.S. IT staffing market is expected to grow at a CAGR of 5.82% from 2022 to 2028.

MARKET TRENDS & DRIVERS

Millennials Transforming the IT Workforce

Millennials (born during 1980-1995) are one of the fastest-growing generations in the workforce. Millennials currently account for more than 1/3rd of the US workforce and are, thereby, the largest workforce generation in the US. Over the years, the IT staffing firms in the U.S. have found it insightful to adapt themselves as the friendly option for millennial job hunters. The IT sector has remained one of the most lucrative sectors for the tech-savvy millennials to work for, considering they not only get well paid but also get their choice of a job without much to strive for. Such factors push for a crucial strategy to be adopted by IT staffing firms, including reaching out to these millennials.

Digital Adoption Driving Transformation

The U.S. IT staffing market is witnessing a wave of transformations owing to digital and innovative technological adoptions across the IT sector in the country. The modern-day era of digital innovations and technologies such as AI, Machine Learning, Blockchain, the Internet of Things, Robotics, and Data Analytics, among others, are pushing companies to adopt new and innovative approaches to project execution. These projects often require skills that are hard to find in just one professional; thereby, the need to hire people with maximum skills at a low-cost drives IT staffing firms to operate smartly.

INDUSTRY RESTRAINTS

Shortage of Skilled Labor

The IT industry in the U.S. has remained under the pressure of an acute shortage of skilled workforce in place. IT staffing firms have been facing the problem of a lack of skilled professionals for quite some time now and are looking for options to tackle this challenge strongly and quickly.

SEGMENTATION INSIGHTS

INSIGHTS BY SKILL SET

The software engineers/developers/DevOps skill set segment is expected to be the largest U.S. IT staffing market. Software engineers and developers have remained core to any organization operating in the IT industry. The demand for software developers in the U.S. is expected to grow by almost 23% by 2028. Such factors are expected to increase the number of software engineers in the United States. Professionals with these skill sets often receive several emails from recruiters thrice compared to other professionals in the industry.

Segmentation by Skill Set

Software Engineers/ Developers/ DevOps
Project Management
Business/Systems Analyst
Help Desk/ Technical Support
Software Architects
QA/Testing
Networking
Security
Data Analytics
Cloud Computing
Mobile App Developers
Others

INSIGHTS BY END-USER

The tech/telecom end-user segment dominated the U.S. IT staffing market in 2022 and is expected to continue the trend during the forecast period. The tech/telecom industry is consistently evolving with time and is expected to grow significantly in the coming years. The continuously evolving technologies and better connectivity infrastructure are boosting the telecom and IT industry, leading to growth in the number of employees working there. Hence, there is a huge hiring requirement in such industries, leading to the rising demand for IT staffing.

Segmentation by End-user

Tech/Telecom
Banking/Financial Services/Insurance
Healthcare
Manufacturing
Retail
Others

REGIONAL ANALYSIS

The U.S. is one of the most technologically advanced countries in the world and hosts companies with a market value of more than USD 1.5 trillion. The country witnessed consistent growth in demand in the number of software and other IT-related jobs over the last few years. The increasing personnel salary is another contributor to the growth of the U.S. IT staffing market. The evolution of technology, the ever-growing demand for updated, secured, and quick IT solutions, and the shortage of skilled workforce push the demand for IT professionals across functions and departments. Further, the Southern U.S. dominated the U.S. IT staffing market, accounting for the highest share of over 38% in 2022.

Segmentation by Region

United States
- South
- West
- Northeast
- Midwest

COMPETITIVE LANDSCAPE

IT staffing is among the most highly fragmented markets across diverse staffing verticals. The industry has comparatively low entry barriers that push vendors to consider innovation and differentiation regarding their client offerings. The key players in the U.S. IT staffing market include TEKsystems, ASGN Incorporated, Insight Global, Randstad, Kforce, and Experis (ManpowerGroup).

Key Company Profiles

TEKsystems
ASGN Incorporated
Insight Global
Randstad
Kforce
Experis (ManpowerGroup)

Other Prominent Vendors

Acro Service Corporation
ALKU
Innova Solutions
Artech
Beacon Hill Staffing
BGSF
Collabera
Compunnel
Consulting Solutions International
Dexian
DIVERSANT
Modis
Mastech Digital
MATRRIX
Mindlance
NTT DATA
Optomi
Robert Half International
Rose International
System One
VACO
vTech Solution

KEY QUESTIONS ANSWERED:

1. How big is the U.S. IT staffing market?
2. What is the growth rate of the U.S. IT staffing market?
3. What are the growing trends in the U.S. IT staffing market?
4. Which region holds the most significant U.S. IT staffing market share?
5. Who are the key players in the U.S. IT staffing market?

Product Code: ARZ230705

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION
- 4.1.1 INCLUSIONS
- 4.1.2 EXCLUSIONS
- 4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
- 4.3.1 MARKET SEGMENTATION BY SKILL SET
- 4.3.2 MARKET SEGMENTATION BY END-USER

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1 MARKET OVERVIEW
6.2 MARKET DYNAMICS: KEY TRENDS, DRIVERS, AND RESTRAINTS
- 6.2.1 MARKET TRENDS
- 6.2.2 MARKET ENABLERS
- 6.2.3 MARKET RESTRAINTS
6.3 SEGMENT ANALYSIS
6.4 REGIONAL ANALYSIS
6.5 COMPETITIVE LANDSCAPE
6.6 ABOUT THE REPORT

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 MARKET OVERVIEW
8.2 US TECH INDUSTRY: KEY INSIGHTS
8.3 US TECH WORKFORCE: KEY INSIGHTS
8.4 US STAFFING INDUSTRY HIGHLIGHTS
8.5 COMPETITIVE SCENARIO
8.6 INVESTMENTS IN IT

9 MARKET OPPORTUNITIES & TRENDS

9.1 INCREASING NEED FOR WORKFORCE RETENTION
9.2 LEVERAGING AUTOMATION FOR DIFFERENTIATION
9.3 MILLENNIALS TRANSFORMING IT WORKFORCE
9.4 STAFFING RESTRUCTURE THROUGH HOLISTIC BRANDING

10 MARKET GROWTH ENABLERS

10.1 DIGITAL ADOPTION DRIVES TRANSFORMATION
10.2 GROWTH IN GIG & FREELANCE ECONOMIES
10.3 REFERRAL RELEVANCE FOR STAFFING
10.4 DIVERSITY & DATA-DRIVEN RECRUITMENT

11 MARKET RESTRAINTS

11.1 SUBDUED IMMIGRATION OUTLOOK
11.2 STRICT GOVERNMENT REGULATIONS ACROSS THE COUNTRY
11.3 SHORTAGE OF SKILLED LABOR

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW
12.2 SUPPLY CHAIN ANALYSIS
- 12.2.1 SEARCH SPECIFICATION
- 12.2.2 SCREENING
- 12.2.3 EVALUATION
- 12.2.4 INTERVIEW SCHEDULING
- 12.2.5 EVENTUAL OFFER
- 12.2.6 APPROPRIATE CLOSURE
12.3 MARKET SIZE & FORECAST
12.4 PEST ANALYSIS
- 12.4.1 POLITICAL
- 12.4.2 ECONOMIC
- 12.4.3 SOCIAL
- 12.4.4 TECHNOLOGY
12.5 FIVE FORCES ANALYSIS
- 12.5.1 THREAT OF NEW ENTRANTS
- 12.5.2 BARGAINING POWER OF SUPPLIERS
- 12.5.3 BARGAINING POWER OF BUYERS
- 12.5.4 THREAT OF SUBSTITUTES
- 12.5.5 COMPETITIVE RIVALRY

13 SKILL SET

13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 SOFTWARE ENGINEERS/DEVELOPERS/DEVOPS
- 13.3.1 MARKET SIZE & FORECAST
- 13.3.2 MARKET BY REGION
13.4 PROJECT MANAGEMENT
- 13.4.1 MARKET SIZE & FORECAST
- 13.4.2 MARKET BY REGION
13.5 BUSINESS/SYSTEMS ANALYST
- 13.5.1 MARKET SIZE & FORECAST
- 13.5.2 MARKET BY REGION
13.6 HELP DESK/TECHNICAL SUPPORT
- 13.6.1 MARKET SIZE & FORECAST
- 13.6.2 MARKET BY REGION
13.7 SOFTWARE ARCHITECTS
- 13.7.1 MARKET SIZE & FORECAST
- 13.7.2 MARKET BY REGION
13.8 QA/TESTING
- 13.8.1 MARKET SIZE & FORECAST
- 13.8.2 MARKET BY REGION
13.9 NETWORKING
- 13.9.1 MARKET SIZE & FORECAST
- 13.9.2 MARKET BY REGION
13.10 SECURITY
- 13.10.1 MARKET SIZE & FORECAST
- 13.10.2 MARKET BY REGION
13.11 DATA ANALYTICS
- 13.11.1 MARKET SIZE & FORECAST
- 13.11.2 MARKET BY REGION
13.12 CLOUD COMPUTING
- 13.12.1 MARKET SIZE & FORECAST
- 13.12.2 MARKET BY REGION
13.13 MOBILE APP DEVELOPERS
- 13.13.1 MARKET SIZE & FORECAST
- 13.13.2 MARKET BY REGION
13.14 OTHERS
- 13.14.1 MARKET SIZE & FORECAST
- 13.14.2 MARKET BY REGION

14 END-USER

14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 TECH/TELECOM
- 14.3.1 MARKET SIZE & FORECAST
- 14.3.2 MARKET BY REGION
14.4 BANKING/FINANCIAL SERVICES/INSURANCE
- 14.4.1 MARKET SIZE & FORECAST
- 14.4.2 MARKET BY REGION
14.5 HEALTHCARE
- 14.5.1 MARKET SIZE & FORECAST
- 14.5.2 MARKET BY REGION
14.6 MANUFACTURING
- 14.6.1 MARKET SIZE & FORECAST
- 14.6.2 MARKET BY REGION
14.7 RETAIL
- 14.7.1 MARKET SIZE & FORECAST
- 14.7.2 MARKET BY REGION
14.8 OTHERS
- 14.8.1 MARKET SIZE & FORECAST
- 14.8.2 MARKET BY REGION

15 REGION

15.1 MARKET SNAPSHOT & GROWTH ENGINE

16 SOUTH

16.1 MARKET SIZE & FORECAST
- 16.1.1 TEXAS: MARKET OVERVIEW
- 16.1.2 FLORIDA: MARKET OVERVIEW
16.2 SKILL SET
- 16.2.1 MARKET SIZE & FORECAST
16.3 END-USER
- 16.3.1 MARKET SIZE & FORECAST

17 WEST

17.1 MARKET SIZE & FORECAST
- 17.1.1 CALIFORNIA: MARKET OVERVIEW
- 17.1.2 WASHINGTON: MARKET OVERVIEW
17.2 SKILL SET
- 17.2.1 MARKET SIZE & FORECAST
17.3 END-USER
- 17.3.1 MARKET SIZE & FORECAST

18 NORTHEAST

18.1 MARKET SIZE & FORECAST
- 18.1.1 NEW YORK: MARKET OVERVIEW
- 18.1.2 MASSACHUSETTS: MARKET OVERVIEW
18.2 SKILL SET
- 18.2.1 MARKET SIZE & FORECAST
18.3 END-USER
- 18.3.1 MARKET SIZE & FORECAST

19 MIDWEST

19.1 MARKET SIZE & FORECAST
- 19.1.1 ILLINOIS: MARKET
19.2 SKILL SET
- 19.2.1 MARKET SIZE & FORECAST
19.3 END-USER
- 19.3.1 MARKET SIZE & FORECAST

20 COMPETITIVE LANDSCAPE

20.1 COMPETITION OVERVIEW

21 KEY COMPANY PROFILES

21.1 TEKSYSTEMS
- 21.1.1 BUSINESS OVERVIEW
- 21.1.2 SERVICE OFFERINGS
- 21.1.3 KEY STRATEGIES
- 21.1.4 KEY STRENGTHS
- 21.1.5 KEY OPPORTUNITIES
21.2 ASGN INCORPORATED
- 21.2.1 BUSINESS OVERVIEW
- 21.2.2 SERVICE OFFERINGS
- 21.2.3 KEY STRATEGIES
- 21.2.4 KEY STRENGTHS
- 21.2.5 KEY OPPORTUNITIES
21.3 INSIGHT GLOBAL
- 21.3.1 BUSINESS OVERVIEW
- 21.3.2 SERVICE OFFERINGS
- 21.3.3 KEY STRATEGIES
- 21.3.4 KEY STRENGTHS
- 21.3.5 KEY OPPORTUNITIES
21.4 RANDSTAD
- 21.4.1 BUSINESS OVERVIEW
- 21.4.2 SERVICE OFFERINGS
- 21.4.3 KEY STRATEGIES
- 21.4.4 KEY STRENGTHS
- 21.4.5 KEY OPPORTUNITIES
21.5 KFORCE
- 21.5.1 BUSINESS OVERVIEW
- 21.5.2 SERVICE OFFERINGS
- 21.5.3 KEY STRATEGIES
- 21.5.4 KEY STRENGTHS
- 21.5.5 KEY OPPORTUNITIES
21.6 EXPERIS (MANPOWERGROUP)
- 21.6.1 BUSINESS OVERVIEW
- 21.6.2 SERVICE OFFERINGS
- 21.6.3 KEY STRATEGIES
- 21.6.4 KEY STRENGTHS
- 21.6.5 KEY OPPORTUNITIES

22 OTHER PROMINENT VENDORS

22.1 ACRO SERVICE CORPORATION
- 22.1.1 BUSINESS OVERVIEW
- 22.1.2 SERVICE OFFERINGS
- 22.1.3 KEY STRATEGIES
22.2 ALKU
- 22.2.1 BUSINESS OVERVIEW
- 22.2.2 SERVICE OFFERINGS
- 22.2.3 KEY STRATEGIES
22.3 INNOVA SOLUTIONS
- 22.3.1 BUSINESS OVERVIEW
- 22.3.2 SERVICE OFFERINGS
- 22.3.3 KEY STRATEGIES
22.4 ARTECH
- 22.4.1 BUSINESS OVERVIEW
- 22.4.2 SERVICE OFFERINGS
- 22.4.3 KEY STRATEGIES
22.5 BEACON HILL STAFFING
- 22.5.1 BUSINESS OVERVIEW
- 22.5.2 SERVICE OFFERINGS
- 22.5.3 KEY STRATEGIES
22.6 BGSF
- 22.6.1 BUSINESS OVERVIEW
- 22.6.2 SERVICE OFFERINGS
- 22.6.3 KEY STRATEGIES
22.7 COLLABERA
- 22.7.1 BUSINESS OVERVIEW
- 22.7.2 SERVICE OFFERINGS
- 22.7.3 KEY STRATEGIES
22.8 COMPUNNEL
- 22.8.1 BUSINESS OVERVIEW
- 22.8.2 SERVICE OFFERINGS
- 22.8.3 KEY STRATEGIES
22.9 CONSULTING SOLUTIONS INTERNATIONAL
- 22.9.1 BUSINESS OVERVIEW
- 22.9.2 SERVICE OFFERINGS
- 22.9.3 KEY STRATEGIES
22.10 DEXIAN
- 22.10.1 BUSINESS OVERVIEW
- 22.10.2 SERVICE OFFERINGS
- 22.10.3 KEY STRATEGIES
22.11 DIVERSANT
- 22.11.1 BUSINESS OVERVIEW
- 22.11.2 SERVICE OFFERINGS
- 22.11.3 KEY STRATEGIES
22.12 MODIS
- 22.12.1 BUSINESS OVERVIEW
- 22.12.2 SERVICE OFFERINGS
- 22.12.3 KEY STRATEGIES
22.13 MASTECH DIGITAL
- 22.13.1 BUSINESS OVERVIEW
- 22.13.2 SERVICE OFFERINGS
- 22.13.3 KEY STRATEGIES
22.14 MATRIX
- 22.14.1 BUSINESS OVERVIEW
- 22.14.2 SERVICE OFFERINGS
- 22.14.3 KEY STRATEGIES
22.15 MINDLANCE
- 22.15.1 BUSINESS OVERVIEW
- 22.15.2 SERVICE OFFERINGS
- 22.15.3 KEY STRATEGIES
22.16 NTT DATA
- 22.16.1 BUSINESS OVERVIEW
- 22.16.2 SERVICE OFFERINGS
- 22.16.3 KEY STRATEGIES
22.17 OPTOMI
- 22.17.1 BUSINESS OVERVIEW
- 22.17.2 SERVICE OFFERINGS
- 22.17.3 KEY STRATEGIES
22.18 ROBERT HALF INTERNATIONAL
- 22.18.1 BUSINESS OVERVIEW
- 22.18.2 SERVICE OFFERINGS
- 22.18.3 KEY STRATEGIES
22.19 ROSE INTERNATIONAL
- 22.19.1 BUSINESS OVERVIEW
- 22.19.2 SERVICE OFFERINGS
- 22.19.3 KEY STRATEGIES
22.20 SYSTEM ONE
- 22.20.1 BUSINESS OVERVIEW
- 22.20.2 SERVICE OFFERINGS
- 22.20.3 KEY STRATEGIES
22.21 VACO
- 22.21.1 BUSINESS OVERVIEW
- 22.21.2 SERVICE OFFERINGS
- 22.21.3 KEY STRATEGIES
22.22 VTECH SOLUTION
- 22.22.1 BUSINESS OVERVIEW
- 22.22.2 SERVICE OFFERINGS
- 22.22.3 KEY STRATEGIES

23 REPORT SUMMARY

23.1 KEY TAKEAWAYS
23.2 STRATEGIC RECOMMENDATIONS

24 QUANTITATIVE SUMMARY

24.1 MARKET BY REGION
24.2 SOUTH
- 24.2.1 MARKET BY SKILL SET
- 24.2.2 MARKET BY END-USER
24.3 WEST
- 24.3.1 MARKET BY SKILL SET
- 24.3.2 MARKET BY END-USER
24.4 NORTHEAST
- 24.4.1 MARKET BY SKILL SET
- 24.4.2 MARKET BY END-USER
24.5 MIDWEST
- 24.5.1 MARKET BY SKILL SET
- 24.5.2 MARKET BY END-USER
24.6 MARKET BY SKILL SET
- 24.6.1 SOFTWARE ENGINEERS/DEVELOPERS/DEVOPS
- 24.6.2 PROJECT MANAGEMENT
- 24.6.3 BUSINESS/SYSTEMS ANALYST
- 24.6.4 HELP DESK/TECHNICAL SUPPORT
- 24.6.5 SOFTWARE ARCHITECTS
- 24.6.6 QA/TESTING
- 24.6.7 NETWORKING
- 24.6.8 SECURITY
- 24.6.9 DATA ANALYTICS
- 24.6.10 CLOUD COMPUTING
- 24.6.11 MOBILE APP DEVELOPERS
- 24.6.12 OTHERS
24.7 MARKET BY END-USER
- 24.7.1 TECH/TELECOM
- 24.7.2 BFSI
- 24.7.3 HEALTHCARE
- 24.7.4 MANUFACTURING
- 24.7.5 RETAIL
- 24.7.6 OTHERS

25 APPENDIX

25.1 ABBREVIATIONS