Professional Services Industry Overview

The scientific research and development services market consists of the sales of scientific research and development services and related goods by entities (organizations, sole traders and partnerships) that engage in research and experimental development on a contract, consultancy or outsourced basis in areas such as biotechnology, the physical sciences, engineering sciences, life sciences and social sciences. Scientific research and development services establishments undertake processes where human capital is the major input. They 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. The scientific research and development services market is segmented into social sciences and humanities services; physical, engineering, and life sciences; nanotechnology services and biotechnology services. The global scientific research and development services market is expected to grow from $816.57 billion in 2020 to $861.76 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. 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 $1232.67 billion in 2025 at a CAGR of 9%. North America was the largest region in the global scientific research and development services market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region, accounting for 27% of the global scientific research and development services market. Africa was the smallest region in the global scientific research and development services market. The scientific research and development services market is expected to grow rapidly due to increasing lifestyle and chronic diseases. This is mainly due to unhealthy lifestyles, growing aging population, rising inactivity and obesity. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally by the year 2020. China and India together had about 193.4 million diabetic patients in 2019 and India is expected to have about 101 million diabetic patients by 2030. In the field of mental health, the World Health Organization predicts that one in every four people are affected by a type of mental disorder such as depression, schizophrenia and anxiety in the future. In response to this, national governments across the globe are rapidly increasing their medical research expenditure. For instance, China's medical research spending has increased and is expected to reach $1 trillion by 2020. Therefore, increasing investment for medical research to treat chronic diseases is further driving the demand for scientific research and development services. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the scientific research and development services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the scientific research and development services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. 4D printing has evolved from 3D printing with an additional feature of changing the geometrical shape and mechanical properties, with time being integrated as an additional fourth dimension. One of the major drawbacks of 3D printing is it can only take the shape in which it was originally made and is static and inanimate. Now with the latest development of 4D printing, objects can now be made with responsive materials with certain inherent properties that can change or transform in response to external stimuli. It has widespread applications in medical science such as tissue regeneration in biomedical field. For example, printed micro tissue from bio ink can undergo maturation via cellular coating to form functional tissue constructs such as engineered tissue constructs. Major biotechnology research companies using 4D bio printing technology include Poietis, Biolife4D and Precise Bio. The major players covered in the global scientific research and development services market are Battelle Memorial Institute, IQVIA Holdings Inc, Defense Advanced Research Projects Agency, Lawrence Livermore National Laboratory LLC, Los Alamos National Laboratory. The countries covered in the global scientific research and development services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global scientific research and development services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global scientific research and development services market is segmented - By Type: Social Sciences And Humanities Services, Physical, Engineering, And Life Sciences, Nanotechnology Services, Biotechnology Services

The management consulting (MCS) market consists of the sales of MCS and related goods by entities (organizations, sole traders and partnerships) that provide a range of services providing advice and assistance on organizational planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling. Such services include solutions for administrative management issues, strategic and organizational planning, business process improvement, human resource and personnel policies, developing marketing planning and strategy, productivity improvement, quality assurance and quality control. Management consulting providers undertake processes where human capital is the major input. They 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. The management consulting services market is segmented into operations advisory; financial advisory; technology advisory; strategy advisory and other consulting services. The global management consulting services market is expected to grow from $819.79 billion in 2020 to $895.46 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. 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 $1201.06 billion in 2025 at a CAGR of 8%. Western Europe was the largest region in the global management consulting services market, accounting for 45% of the market in 2020. North America was the second largest region, accounting for 29% of the global management consulting services market. Africa was the smallest region in the global management consulting services market. Many clients of the management consulting services market are expanding globally and thus require more sophisticated and internationally-oriented services. Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion and multi-national companies setting up facilities in high growth regions. Companies are increasingly forming joint ventures with firms in other countries, to test the market. Similarly, some companies are looking to acquire an established company in new market, to minimize the risk. Furthermore, globalization in the management consulting services industry is gaining momentum due to rapid growth in internet, automation of consultancy processes and developments in data security. In response to this, many domestic management consultancies have entered into new markets, collaborating with foreign groups to offer services in a wider range of countries. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the management consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the management consulting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Artificial intelligence (AI) and automation are revolutionizing the way management consultants explore data. AI and automation help management consultants handle such processes as processing and analyzing of massive amounts of data more efficiently and faster than an average human. It can also provide accurate insights in the areas of businesses such as sales, operations, supply chain and more. For example, JLL, an American professional services and investment management company specializing in real estate, leverages an AI analysis system to drastically streamline workloads. The real estate consultancy advises on client portfolios that can be from anything between 1 and 100,000 properties, which traditionally took professionals weeks to analyze. In the consulting area, the information gathered through AI on sales channels, customer journeys and client behavior can help consultants identify new opportunities and develop effective strategies for advertising campaigns. According to Euan Cameron, PwC’s UK AI Leader, AI could add huge value to the management consulting sector which traditionally was conservative and human-driven. The major players covered in the global management consulting services market are Deloitte Touche Tohmatsu Limited, Accenture Plc, International Business Machines Corporation, Ernst & Young Global Limited, PricewaterhouseCoopers (PwC). The countries covered in the global management consulting services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global management consulting services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global management consulting services market is segmented - 1) By Type: Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, Other Consulting Services, HR Advisory 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Others

The specialized design services market consists of sales of specialized design services such as interior, industrial, graphic and fashion design services and related goods by entities (organizations, sole traders and partnerships) that plan, design and administer projects as required by client specifications. The specialized design services market does not include architectural, engineering and computer system design services. Specialized design services undertake processes where human capital is the major input. They 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. The specialized design services market is segmented into interior design services; graphic design services; industrial design services and fashion and other design services. The global specialized design services market is expected to grow from $119.05 billion in 2020 to $127.11 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. 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 $174.21 billion in 2025 at a CAGR of 8%. North America was the largest region in the global specialized design services market, accounting for 35% of the market in 2020. Asia Pacific was the second largest region, accounting for 28% of the global specialized design services market. Africa was the smallest region in the global specialized design services market. Many design services companies are entering into new markets, or collaborating with foreign designers to offer a wide range of services, thereby eliminating boundaries on the geographic scope of design services. As overseas travel is becoming prevalent, awareness of the latest design trends is increasing. Therefore, many companies have access to more globalized and advanced design services. For instance, Callison RTKL, a Batimore based design firm collaborated with HBS realtors, an Indian real estate company to design residential buildings in India. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the specialized design services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the specialized design services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Virtual reality and augmented reality technologies are being widely used by interior design service providers to provide customized design to customers and offer low cost design plans in a short time span. Virtual reality is the use of computer technology to create a computer stimulated visuals and augmented reality is a real environment objects supplemented with computer-generated information through sensory inputs. These technologies aid in reducing rework, increase quality, lower labour costs, improve safety, streamline collaboration and aid in project management. For instance, Decorilla, an online interior design service provider, is providing AR and VR based technologies for interior designing. Large companies such as Google, Facebook, and Samsung are also widely using these technologies to increase productivity and enhance quality associated with designing. Other companies using virtual reality and augmented reality for interior designs include roOomy and Vectorworks. The major players covered in the global specialized design services market are John Wood Group PLC, Altran Technologies, Gensler, Jacobs Engineering Group Inc, Arcadis NV. The countries covered in the global specialized design services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global specialized design services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global specialized design services market is segmented - 1) By Type: Interior Design Services, Graphic Design Services, Industrial Design Services, Fashion And Other Design Services 2) By Mode: Online, Offline

The accounting services market consists of the sales of accounting services and related goods by entities (organizations, sole traders and partnerships) that provide recording and analysis of financial transactions and other financial values pertaining to businesses and other organizations. The accounting service involves summarizing, analyzing, auditing and reporting of the financial transactions to tax collection agencies and entities. It also involves auditing and preparing financial statements, designing accounting systems, developing budgets and accounting advisory. Accounting services undertake processes where human capital is the major input. They 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. The accounting services market is segmented into payroll services; tax preparation services and bookkeeping, financial auditing and other accounting services. The global accounting services market is expected to grow from $544.06 billion in 2020 to $573.29 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. 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 $735.94 billion in 2025 at a CAGR of 6%. North America was the largest region in the global accounting services market, accounting for 43% of the market in 2020. Western Europe was the second largest region, accounting for 35% of the global accounting services market. Africa was the smallest region in the global accounting services market. Regulatory reforms in the financial sector have heightened demand for accounting services such as accounting and tax advisory. For instance, Basel-3 standards will be implemented in 2019, thus increasing the demand for accounting services globally. Over the next five years, further major changes, such as the UK’s exit from the EU will create additional demand for accounting consultants, thereby driving the market The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the accounting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the accounting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Some accountants are outsourcing typical basic accounting tasks such as payroll accounting, accounts payable and accounts receivable to allow their employees to focus on higher value activities such as becoming vertical experts in their customer’s markets and analyzing their clients' business data. This extra attention and analysis is transforming the role of a traditional accountant into a business advisor and takes customer service to the next level by developing strong counsel-focused relationships. For instance, QX Accounting Services (QXAS) Ltd provides outsourced accounting, finance and other services to accountants and accountancy firms in the UK. The major players covered in the global accounting services market are PwC LLP, Ernst & Young LLP, Deloitte LLP, KPMG LLP, BDO International Ltd. The countries covered in the global accounting services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global accounting services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global accounting services market is segmented - 1) By Type: Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing and Other Accounting Services 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Others

The environmental consulting services (ECS) market consists of the sales of environmental consulting services and related goods by entities (organizations, sole traders and partnerships) that provide advice, assistance, and action plans to organizations and governments to manage their environment. It includes the prevention of environmental contamination, toxic substances, security consulting, waste management, and pollution control. Environmental consulting services undertake processes where human capital is the major input. They 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. The environmental consulting services market is segmented into site remediation consulting services; water and waste management consulting services; environment management, compliance and due diligence and other environmental consulting services. The global environmental consulting services market is expected to grow from $29.08 billion in 2020 to $31.12 billion in 2021 at a compound annual growth rate (CAGR) of 7%. 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 $36.93 billion in 2025 at a CAGR of 4%. North America was the largest region in the global environmental consulting services market, accounting for 50% of the market in 2020. Western Europe was the second largest region, accounting for 19% of the global environmental consulting services market. Africa was the smallest region in the global environmental consulting services market. Sustainable development refers to the economic growth of a country or region, without or with minimum depletion of natural resources. The United Nations Organization established Sustainable Development Goals for all its members with an agenda to ensure responsible growth to 2030. These goals include ensuring availability and equitable access to drinking water, improving water quality by reducing pollution and preventing dumping of hazardous waste, building safe and resilient infrastructure, integrating measures to tackle climate change in national policies, and the promotion of sustainable use of marine and terrestrial resources. Investments in meeting these targets is expected to drive demand for the services of environmental services companies. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the environmental consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the environmental consulting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Environmental consulting companies are increasingly promoting the utilization and installation of IoT technologies that can help enterprises and governments monitor and conserve the environment. For instance, environmental sensors measure pollution causing particles in air and water, thereby monitoring air or water quality. They also detect radiations and hazardous chemicals in the environment. IoT technologies can also offer efficient solutions for waste collection and disposal. Smart waste collection systems could help track waste levels in garbage bins, provide transport optimization and operational analytics, thereby saving on government assets and minimum fuel consumption. The major players covered in the global environmental consulting services market are AECOM, Amec Foster Wheeler, Tetra Tech, Arcadis, Environmental Resource Management. The countries covered in the global environmental consulting services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global environmental consulting services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global environmental consulting services market is segmented - 1) By Type: Site Remediation Consulting Services, Other Environmental Consulting Services, Water And Waste Management Consulting Services, Environment Management, Compliance And Due Diligence 2) By End-Users: Mining, Manufacturing & Process Industries, Energy & Utilities, Government & Regulators, Infrastructure & Development, Others

The market research services market consists of the sales of market research services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage activities for studying and analyzing markets according to client’s specifications. Market research establishments undertake processes where human capital is the major input. They 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. The market research services market is segmented into marketing research and analysis services and public opinion and election polling. The global market research services market is expected to grow from $71.86 billion in 2020 to $75.66 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. 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 $90.79 billion in 2025 at a CAGR of 5%. North America was the largest region in the global market research services market, accounting for 33% of the market in 2020. Western Europe was the second largest region, accounting for 28% of the global market research services market. Africa was the smallest region in the global market research services market. The market research services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.2% in 2019 and 3.5% in 2020. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP is expected to grow at 7.2%, whereas China is forecasted to register GDP growth of 6.0% in 2020. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the market research services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the market research services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Many market research companies are suggesting their clients to implement virtual reality technologies to understand customer decision making process. Virtual reality is a computer-generated simulation of a three-dimensional image, sound and other sensations that replicate an environment and also simulates an individual’s presence in the environment. This technology enables companies to generate critical consumer insights without having to invest in trial and error processes in physical stores and collect opinions from target respondents. Virtual reality technology enable companies collect data efficiently from a large sample size with minimum investment. For instance, Nestle implemented Decision Insights virtual store to determine prices and placements of 15 new stock keeping units of ice cream cups. After implementing research recommendations ice cream sales increased by 53%. The major players covered in the global market research services market are Nielsen Holdings plc, WPP PLC, Ipsos SA, GfK GROUP, Westat Inc. The countries covered in the global market research services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global market research services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global market research services market is segmented - 1) By Type: Marketing Research And Analysis Services, Public Opinion And Election Polling 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Others

The design, research, promotional and consulting services (also referred to as general professional services) market consists of the sales of design, research, promotional and consulting services and related goods by entities (organizations, sole traders and partnerships) that offer expertise and services to a wide range of industries, and in some cases to households and individuals.Activities include architectural services, engineering services, design services, research services, advertising services, photographic services, and other design, research, promotional and consulting services.Design, research, promotional and consulting establishments undertake processes where human capital is the major input.These 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.The general professional services market is segmented into 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 and architectural, engineering consultants and related services. The global design, research, promotional and consulting services market is expected to grow from $3635.6 billion in 2020 to $3974. billion in 2021 at a compound annual growth rate (CAGR) of 9.%.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 $5237.7 billion in 2025 at a CAGR of 7%. Western Europe was the largest region in the global design, research, promotional and consulting services market, accounting for 32% of the market in 2020.North America was the second largest region, accounting for 31% of the global market.Africa was the smallest region in the global design, research, promotional and consulting services market. Faster Economic Growth - The design, research, promotional and consulting services market growth is aided by stable economic growth forecasted in many developed and developing countries.The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.% in 2019 and 3.% in 2020.Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth.Developed economies are also expected to register stable growth during the forecast period.Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period.For instance, India's GDP is expected to grow at 7.%, whereas China is forecasted to register GDP growth of 6.% in 2020.Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period. Coronavirus Pandemic - The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the design, research, promotional and consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.However, it is expected that the design, research, promotional and consulting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Companies in the design, research, promotional and consulting services market are shifting from the traditional per-hour and per-month revenue model to a value-oriented revenue model.In line with increasing wages and pressure from clients to decrease pricing, many companies are shifting towards value-oriented billing.Value-oriented billing is easy to apply in markets such as management consulting and market research since the value (such as tax savings, damage awards, ad placements or the size of an acquisition or merger) is often explicit.It is expected that more design, research, promotional and consulting service providers will shift to value-based pricing as they try to become "advisors" rather than just service providers. Major companies in the market include WPP PLC; Deloitte LLP; Omnicom Group; PwC LLP; Ernst & Young LLP. The countries covered in the global design, research, promotional and consulting services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global design, research, promotional and consulting services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global design, research, promotional and consulting services market is segmented - 1) By Type: 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 2) By Mode: Online, Offline Subsegments Covered: Portrait Studios Services, Commercial Studios, Marketing Research And Analysis Services, Public Opinion And Election Polling, Advertising Agencies, Other Advertising Services, Public Relations, Direct Mail Advertising, Billboard & Outdoor Advertising, Media Buying Agencies And Representative Firms, Print Advertising Distribution, Social Sciences And Humanities Services, Physical, Engineering, And Life Sciences, Nanotechnology Services, Biotechnology Services, Site Remediation Consulting Services, Other Environmental Consulting Services, Water And Waste Management Consulting Services, Environment Management, Compliance And Due Diligence, Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, Other Consulting Services, HR Advisory, Interior Design Services, Graphic Design Services, Industrial Design Services, Fashion And Other Design Services, Engineering Services, Architectural Services, Laboratory Testing Services, Surveying & Mapping Services, Building Inspection Services, Geophysical Services, Drafting Services

The photographic services market consists of the sales of photographic services and related goods by entities (organizations, sole traders and partnerships) that offer services for planning, developing, creating and managing the processes for creating durable images by recording light or through electromagnetic radiation by means of an image sensor or chemically by means of a light sensitive photographic film.It includes editing, processing and presenting pictures.Photographic services include school portraits, wedding photography, special occasions and event photography.Photographic services establishments undertake processes where human capital is the major input.They 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.The photographic services market is segmented into portrait studios services and commercial studios. The global photographic services market is expected to grow from $32.2 billion in 2020 to $36.2 billion in 2021 at a compound annual growth rate (CAGR) of 10.%.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 $44.7 billion in 2025 at a CAGR of 5%. North America was the largest region in the global photographic services market, accounting for 41% of the market in 2020.Asia Pacific was the second largest region, accounting for 29% of the global market.Africa was the smallest region in the global photographic services market. Widespread sharing of pictures on websites and social networking platforms is expected to contribute to the growth of the photographic services market during the forecast period.Websites and mobile applications such as Facebook, Instagram, Snapchat, and Pinterest have led to increasing trend of sharing images on these platforms to gain social acceptance and popularity among peers.While most images shared on social media are amateur private photographs, professional agencies such as Shutterstock and Getty offer professional images for sale, which can then be used by individuals or companies for advertising in social media.Photographers are expected to benefit from this trend as individuals and organizations are increasingly demanding professionally clicked photographs for media communication, public relation and other professional services.Increased internet penetration in many developed and developing countries, especially among urban and younger population, is further driving the demand of professional photographic services. The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the photographic services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.However, it is expected that the photographic services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Photographers and service providers are increasingly exploring opportunities in niche markets to increase market value and customer base.Expertise and specialization in fields of sports, events, landscapes, wildlife and street photography, are significantly gaining popularity.Companies and individuals are focusing on aerial photography, babies, pets, fashion, travel, and photo journalism.This trend is also helping companies market their services to targeted audiences and reducing operating costs.Working in niche markets enable photographers to command comparatively high prices for their services and specialization, thereby increasing profitability. Major companies in the market include Lifetouch Inc; Studio Alice Co Ltd; Getty Images Inc; Portrait Innovations Inc; Cherry Hill Photo Enterprises. The countries covered in the global photographic services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global photographic services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global photographic services market is segmented - 1) By Type: Portrait Studios Services, Commercial Studios 2) By Application: Children, Youth, Adult Subsegments Covered: School Photography Services, Personal Photography Services, Wedding Photography Services, Other Photography Services