Global Commercial Services Market Overview And Prospects
Learn about the global commercial services market through The Business Research Company, which provides information on commercial services market size, commercial services market drivers and restraints, commercial services market players, the COVID-19 impact on the commercial services market, and more.
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The global commercial services market is expected to grow from $3858.8 billion in 2020 to $4366.2 billion in 2021 at a compound annual growth rate (CAGR) of 13.%.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 commercial services market is expected to reach $5864.4 billion in 2025 at a CAGR of 8%.
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The commercial services market consists of sales of commercial services by entities (organizations, sole traders and partnerships) that perform support activities for the day-to-day operations of other businesses or organizations. Examples include office facilities management services, travel arrangement services.
Global Commercial Services Market Segments Include:
By Type: Office Administrative Services, Facilities Support Services, Employment Services, Business Support Services, Travel Arrangement And Reservation Services, Waste Management And Remediation Services, Investigation And Security Services, Services to Buildings And Dwellings, Other Support Services
By Mode: Online, Offline
Subsegments Covered: Business Management Services, Hospitality Management Services, Health Management Services, Other Office Administrative Services, Maintenance Services, Security & Guard Services, Reception Services, Other Facilities Support Services, Employment Placement Agencies, Executive Search Services, Temporary Help Services, Professional Employer Organizations, Document Preparation Services, Telephone Call Centres, Business Service Centres, Collection Agencies, Credit Bureaus, Other Business Support Services, Travel Agencies, Tour Operators, Convention And Visitors Bureaus, Other Travel Arrangement And Reservation Services, Waste Collection, Waste Treatment And Disposal, Remediation Services, Other Waste Management Services, Investigation, Guard, And Armoured Car Services, Security Systems Services, Exterminating And Pest Control Services, Janitorial Services, Landscaping Services, Carpet And Upholstery Cleaning Services, Other Services to Buildings And Dwellings, Packaging And Labelling Services, Convention And Trade Show Organizers, All Other Support Services
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global commercial services market, accounting for 30% of the market in 2020.
Artificial intelligence 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, 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.
TBRC’s commercial services market report covers:
Major Market Players: Adecco Group, Randstad Holding, Manpower Inc, Waste Management Inc, Iss A/S.
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)
The Commercial 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 commercial services market overviews, analyses and forecasts market size, share, commercial services market players, commercial services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s commercial services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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