Global Commercial Services Market Report 2022 – Market Forecast, Trends And Strategies

The global commercial services market size is expected to grow from $4.57 trillion in 2021 to $5.15 trillion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The growth in the 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 commercial services market is expected to reach $7.89 trillion in 2026 at a CAGR of 11.3%.

What is the Global Commercial Services Market?

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.

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What drives the Global Commercial Services Market?

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. According to a study by Oracle, nearly 8 out of 10 businesses have already implemented or planning to adapt artificial intelligence in customer support in 2020. Some of the companies using artificial intelligence in customer support include China Merchant Bank, Fiat Argentina, Toshiba France, KLM airlines.

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Global Commercial Services Market Segments
The global commercial services market is segmented:
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
By Service Type: Hard Services, Soft Services, Other Services
By Geography: The regions covered in the commercial services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Commercial Services Global Market Report 2022provides market size and growth forecasts for the global commercial services market, global commercial services market share, commercial services market segments and geographies, commercial services market competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Commercial Services Industry Playersinclude BCD Travel, Randstad Holding NV, Adecco Group, Travel Leaders Group, TUI Group, Recruit Holdings, ManpowerGroup Inc., Waste Management Inc., Securitas AB and Veolia Environment SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.