Learn about the global professional services market through The Business Research Company, which provides information on professional services market size, professional services market drivers and restraints, professional services market players, the COVID-19 impact on the professional services market, and more.

The global professional services market is expected to grow from $6040.91 billion in 2021 to $6697.56 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The growth in the professional services market 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 professional services market is expected to reach $9651.77 billion in 2026 at a CAGR of 9.6%.

The professional services market growth is aided by stable economic growth forecasted in many developed and developing countries.

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The professional services market consists of the sales of professional services and related goods by entities (organizations, sole traders and partnerships) that offer services and provide support to businesses of all sizes, in all industries, and to individuals and institutions, in processes where human capital is the major input. Professional services establishments make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.

Global Professional Services Market Segments Include:

By Type: Design, Research, Promotional And Consulting Services, Legal Services, Accounting Services, All Other Professional, Scientific, and Technical Services

By Service Provider: Large Enterprise, Small and Medium Enterprise

By Mode: Online, Offline

Subsegments Covered: Photographic Services, Market Research Services, Advertising, Public Relations, And Related Services, Scientific Research And Development Services, Environmental Consulting Services, Management Consulting Services, Specialized Design Services, Architectural, Engineering Consultants And Related Services, B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices, Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing and Other Accounting Services, Translation Services, Other Professional, Scientific, and Technical 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, North America was the largest region in the global professional services market in 2021.

Cloud based accounting software is increasingly preferred by accounting firms to enhance the ability to access and edit financial data through the internet, enhance security associated with financial transactions and to reduce costs. Cloud based accounting software is an accounting software, similar to software as a service (SaaS) model, hosted on remote servers to allow users to perform functions off-site. The accounting data is sent to the cloud, processed and then returned to the user. This process saves time with automation, creates secure collaboration of financial reports, provides real-time data and access to financial data from anywhere. This tool allows users to access accounts from any devices (smartphone, laptop and others) through internet, secure the data from online and offline threats, offer better alternative solutions at lower costs than conventional tools.

TBRC’s professional services market report covers:

Major Market Players: eloitte Touche Tohmatsu Limited, PwC, Ernst & Young, Accenture, KPMG, Total SA, PowerChina, WPP plc, Omnicom Group Inc. and Jacobs Engineering Group Inc.

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 (2016-21) and ten years forecast (2022-2026-2031)

The Professional Services Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides professional services market overviews, analyses and forecasts market size, share, professional services market players, professional services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s professional services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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