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

SKU : ARZ190308
  • Published on : March 2019

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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).

US IT Staffing Market: Overview

The IT Staffing Market in the US accounts for 22% Share of the Staffing Market in the US.

As the global IT market is witnessing a surge in cloud computing, big data, internet of things, artificial intelligence, and automation, major tech giants are looking for specialized talent that is adept at handling these technologies. The rise of robotic automation and artificial intelligence, especially, has shifted the focus of major and mid-tier recruitment firms on STEM skill sets. The wave of digital transformations that have swayed the world is expected to increase the investment for diverse technological projects and skill set. Not only the evolving IT market is increasing bringing new revenue avenues for the staffing industry worldwide, but it is also changing the dynamics of staffing worldwide. TEKsystems, ASGN, and Insight Global are a few key IT firms that are expected to expand further during the forecast period.

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

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.

US IT Staffing Market Analysis and Segments 2024

US IT Staffing Market by Skillset

The demand for software engineers is likely to grow by 25% in 2025

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/devOpssegment 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.

Further, the US IT staffing market is experiencing a high demand for business/systems analysts. Over the last few years, business and system analysts have been in demand as they are responsible for driving innovation, enhancing business agility, and increasing engagement with stakeholders. Also, QA/testing is a flourishing skill set, which is witnessed a spike in the US IT staffing market, growing at a CAGR of around 3.5% during the period 2018−2024. QA professional/testers’ primary responsibility is to ensure a bug-free software/application before its launch. The evolution of IoT, increase in big data testing services, and the rise of open source tools are major trends witnessing in the software testing market.

US IT Staffing Market by End-user

The need for security skill professionals is expected to grow in the US IT staffing market due to the demand for proactive protection through the internet value chain.

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.

BFSI is one of the fast-growing end-user industries for the US IT staffing market. The shift toward digital banking is one of the key trends in the banking and financial services sector. However, the growing digitalization of financial institutions has increased data breaches and security threats. This has led to the establishment of the New York Department of Financial Services Cybersecurity Regulation, which demands financial institutions to adopt enhanced cybersecurity systems. Therefore, the IT staffing firms may look at certain specific skill sets across areas of managing and adopting digital transformation in the BFSI sector during the forecast period.

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

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