The Global Business Support Services Market Report by The Business Research Company covers business support services market drivers and restraints, business support services market size, major players, and the impact of COVID-19 on the business support services market.
The business support services market consists of sales of business support services and related goods by entities (organizations, sole traders, and partnerships) that provide business support services such as document preparation, telephone call centers, telephone answering, telemarketing bureaus and other contact centers, and private mail centers.
The global business support services market is expected to grow from $466.71 billion in 2020 to $521.77 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $679.67 billion in 2025 at a CAGR of 7%.
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Some business support services market trends include Artificial intelligence (AI). It is widely being used by business organizations in customer support activities as it considerably reduces operational costs. Artificial intelligence systems perform tasks that normally require human intelligence such as speech recognition, translation between languages, visual perception, and decision-making. This technology enables handling of customer grievances and other interactions without human intervention, thereby increasing efficiency and reducing operational costs. It also helps manage support tickets in bulk, provides multi-language support and auto responding of bulk emails.
Global business support services market segments include:
1) By Type: Document Preparation Services, Telephone Call Centers, Business Service Centers, Collection Agencies, Credit Bureaus, Other Business Support Services.
2) By Organization Size: Large Enterprise, Small and Medium Enterprise.
3) By Mode: Online, Offline.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Western Europe is the largest region in the global business support services market, accounting for 39% of the total market.
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The Business Support Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides business support services market overviews, analyzes and forecasts market size, share, business support services market players, business support services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The business support services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Business Support Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Tata Consultancy Services Limited, Hewlett Packard Enterprise Co, Genpact Ltd, A.T. Kearney, Grant Thornton LLP.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Business Support Services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Business Support Services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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