Between 2012 and 2018, Software as a Service (SaaS) grew by more than 300%. In 2020, the pandemic spurred on the shift to remote work, and the demand for cloud-based software that facilitated the smooth transition from working in an office to working at home was at an all-time high. It’s no surprise, then, that SaaS capital peaked in 2021.
Fast-forward three years, remote work remains hugely popular—and the myriad of SaaS tools available make it easier than ever to run businesses successfully. With a vast number of companies now embracing this way of working, we’ve rounded up the most prevalent remote work statistics for 2024.
2024 Top remote work statistics
- Approximately 22 million employed adults in the US work 100% from home. This equates to around 14% of the adult workforce.
- By 2025, this figure is expected to increase to 32.6 million.
- 33% of US employees with remote-capable jobs prefer to be fully off-site, 8% prefer to be on-site only, and just under 60% prefer a hybrid work arrangement.
- Globally, the tech industry has the highest number of remote workers, with 67.8% of all remote employees in this industry.
- 56% of professionals know someone who plans to quit or has quit their job due to a return to office mandate being enforced.
- Gen Z workers between ages 20 and 24 are the least likely to apply for remote roles in the workplace.
- Hybrid and remote employees report having the highest engagement levels, at 81% and 78%, respectively.
The current state of remote work
2020 forced entire industries to unexpectedly embrace remote work with minimal notice and preparation time. However, as the world returned somewhat to normal, hybrid work models were introduced, with employees splitting their time between in-office and remote work.
Today, Quantum Workplace reveals that 41% of employees prefer hybrid work, while 32% prefer the fully remote model. Only 27% of employees prefer full-time on-site work.
While younger Gen Zers are least likely to accept a remote job, those between the ages of 24 and 35 are most likely to work remotely. This means that older Gen Zers and younger Millennials make up the greatest share of remote workers.
When it comes to gender, a higher percentage of men work from home than women, with 38% of men working remotely full-time and 23% part-time. In contrast, 30% of women work remotely full-time, and 22% do so part-time.
The importance of remote work opportunities in 2024
Remote work opportunities are incredibly important for both men and women. According to a FlexJobs survey, 60% of women say they’ll look for a new job if they cannot continue to work remotely, and 52% of men say they’d quit.
When searching for a new job, 80% of women say that remote working opportunities are one of their most important considerations, and 69% of men agree. For women, remote work has also opened up new avenues of revenue generation as they can combine childcare and family responsibilities with earning an income.
With only 1% of Buffer study participants saying they had a negative remote work experience and 98% of remote workers agreeing they’d recommend this type of work to others, it’s clear that these models suit the majority of employees.
When you look at the benefits, it’s easy to see what.
Both men and women agree that the biggest benefits of remote and hybrid work include less burnout, higher productivity, more autonomy, efficient time management, and improved work-life balance. Remote and hybrid work has also proven less stressful, with 59% of full-time office workers saying their stress levels increased in the past year. In contrast, only 55% of hybrid workers and 36% of remote workers said this was the case.
Facts and figures for remote work in 2024
Workers agree that the benefits of remote work are largely related to time and work-life balance. Working remotely saves an average of 72 minutes of commuting time daily, which correlates with this. Interestingly, however, many workers who save this time use it to do more work. Without the stress of commuting, productivity gets a boost, and burnout is easier to avoid.
While tech has the highest number of remote workers, the categories of those working from home in the US in March 2024 were split as follows:
- Professional and business services: 29%
- Finance and insurance: 23%
- Information sectors: 21%
According to ZipRecruiter data, the average salary for a work-from-home employee in the US as of July 2024 is $29.41 an hour or $61,178 per year. Overall, annual remote work salaries reach as high as $84,500 and as low as $12,000, but the majority range between $40,000 and $79,500.
A McKinsey study revealed that higher earners with more senior positions prefer working remotely. 44% of those who prefer to work from home are in senior roles, and 33% earn over $150,000 annually. These employees are likely decision-makers who can protect remote or hybrid workers and ensure this culture continues.
Those working remotely also save money, with hybrid workers spending $15 a day compared to in-office workers spending $51 a day. Those in the office had to cover commuting, parking, coffee, food, and even daily pet care costs.
SaaS & remote work stats in 2024
Without the right tools, remote and hybrid work wouldn’t be possible. SaaS is one of the tools that makes it possible for employees to do everything from work on projects together to host video conferences and virtual meetings.
Whereas in-person meetings tend to be time-consuming and stressful, 70% of remote workers say virtual meetings are less stressful, and 67% believe these often shorter sessions are as productive as in-person meetings. They also break down geographical boundaries, creating greater diversity and inclusion.
In 2023, 88% of meetings had at least one remote participant, and 37% of companies upgraded their meeting technology to accommodate this virtual participation.
Overall, SaaS is a driving force in ensuring employees can meet virtually and collaborate, and the revenue growth figures reflect this. The SaaS industry is expected to reach $190.10 billion in revenue in 2024, with an average spend per US employee of $1100. Between 2024 and 2029, SaaS industry revenue will show an annual growth rate of 18.92%, reaching a value of $452.10 billion by 2029.
A remote future awaits
Based on these statistics, it’s evident that remote and hybrid work will be a major part of the future, and it remains the preferred option for the majority of employees in the US and beyond.
With SaaS continually growing and advancing, there is definitely the support needed to ensure that employees can perform their duties to the best of their ability with less stress, reduced chances of burnout, and a better work-life balance.