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Enterprise Crowdsourcing Market Achieves Over 75% Revenue Growth Finds Research Firm massolutionFirst Enterprise Crowdsourcing Research Report Reveals More Than Half of All Crowd Workers Live in North America & Europe (February 27, 2012)
LOS ANGELES, CA -- (Marketwire) -- 02/27/12 -- massolution, a research firm specializing in crowdsourcing solutions, today released the first comprehensive report on the enterprise crowdsourcing industry. After collecting 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. This growth is largely driven 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."
CSP respondents represent all key categories of the crowdsourcing marketplace, including expertise-based tasks, ideation tasks, micro-tasks, freelance platforms, and software services.
The Crowd - Key Insights
Contrary to a commonly held view that crowdsourcing is a transfer of low-skill work to low-cost locations, research shows that nearly 60% of all crowd workers live in North America and Europe. Additionally, almost 50% have a bachelor degree. Other key findings include:
- Number of crowd workers is growing in excess of 100% a year
- Crowd members work at least once a month; about half work as often as once a day
- Nearly 77% of all workers have a primary job
Crowdsourcing Providers - Key Insights
As revenues grew over 75% from 2010 to 2011, Internet Services contributed the largest share of revenues (29%), followed by Media and Entertainment (20%) and the Technology sector (18%), with North America and Europe collectively hosting more than 90% of crowdsourcing clients. Other key findings include:
- Worker assessment is the most prevalent quality control method, offered by more than 92% of the providers; peer and expert review are also common and offered by 80%
- 80% offer worker qualification for each task and allow buyers to pre-select workers
- More than 52% of enterprise adopters made more than one purchase
Journalists interested in a copy of the report can contact Jennifer Moebius at firstname.lastname@example.org.
The following Crowdsourcing Service Providers participated in this industry report: 10 EQS, BlurGroup, Capseo, CloudFactory, CrowdControlSoftware, CrowdEngineering, CrowdFlower, CrowdSource, CrowdTogether, DesignRider, Elance, Freelancer, ImageBrief, LINGOTEK, Lionbridge Technologies, MediaPiston, MobileWorks, Mypitch, NewDialogues, oDesk, PricingProphets.com, Projektwerk, Samasource, ScriptLance, Thinkspeed, Trada, Topcoder, Twago AG, uTest, Userfeedback GmbH, and Voice123.
massolution, a business unit of Crowdsourcing LLC, that also operates the industry website Crowdsoucing.org, is a unique research and advisory firm specializing in the crowdsourcing and crowdfunding industry. massolution's unique data assets, fact-based research and proprietary intellectual property, drive forward-looking and actionable insights that inform the strategies and operations of business leaders and market stakeholders.
massolution works with leading organizations to deliver crowdsourcing business models that access an on-demand, scalable workforce to deliver improved business performance and to drive product and service innovation and enhanced levels of customer engagement. Our team has experience working in large enterprise environments designing, implementing, and managing crowdsourcing initiatives. More information at www.massolution.com or www.crowdsourcing.org.
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