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What are the trends with the Virtual Assistant industry? We can let you know. We follow trends and like to see what our industry is up to. The changing times and need for remote workers is by far the most significant trend.
It is pretty challenging to determine the size of the virtual assistant industry. Statistics show that the global market for outsourced services, which this sector is part of, was valued at $92.5 billion in 2019 and is on track to grow further.
Virtual Assistant Statistics
- Over half of virtual assistants are employed full-time.
- Virtual assistants can save a business up to 78% in operating costs.
- 13% of employees are more productive when working from home.
Over 50% of people worldwide work remotely for 2.5 days per week.
Although the 9-to-5 office workday still exists in many companies, a growing number of businesses are shifting toward a remote work policy. Statistics on virtual assistants further reveal that 85% of virtual workers reported feeling more productive when working from home.
The US has more than 3.3 million secretaries and administrative assistants.
While this data doesn’t tell us how many of those assistants are virtual and how many in-person, some well-known entrepreneurs think that VAs will soon overtake the rest, given the demand for such services. There are multiple types of virtual assistants, including social media, data entry, marketing services and virtual receptionists with the list growing every day.
Virtual assistants can reduce operating costs by 78%.
Companies that hire virtual assistants can eliminate all the expenses required to maintain a traditional employee. They don’t have to worry about equipment, benefits, paid training, or long-term contract agreements.
Levels of Virtual assistant degrees
54% of assistants have a Bachelor’s degree, and 22% have an associate degree.
People that are working remotely are 13% more productive.
Since virtual assistants often work from the comfort of their own homes, they have more time to manage their work and personal tasks in the most efficient way possible. Also, statistics show that most remote workers are less distracted at home than they would be in the office and, therefore, can focus and get things done. (Virtudesk)
Are virtual assistants in high demand?
According to virtual assistant growth statistics, the demand for virtual assistants increases each year. Although it’s difficult to estimate the size of the VA sector, it is a part of the outsourced service industry which is projected to grow at a CAGR of 4.5% between 2020 and 2025.
How many hours a week do virtual assistants work?
Although the working hours of virtual assistants are flexible, virtual assistant industry statistics show that most of them work about 20 hours per week.
Who hires virtual assistants?
Virtual assistants typically provide support by handling customer service, accounting, scheduling, word processing and sales-related support tasks, and companies, agencies or individuals usually hire them.
We hope this was interesting to you and you get a good sense of what is out there for your company and our services.
Sources: Business Wire, Statista, Virtudesk, IWG, BLS, Delegated