Global Commercial Services Market Trends And Strategies Of Major Players In The Commercial Services Market 2021-2030
2 Jul, 2021
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 Size And Drivers:
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 market is expected to reach $5864.4 billion in 2025 at a CAGR of 8%. Increasing demand is the main driver of the market.
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Trends In 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.
Global Commercial Services Market Segments:
The global commercial services market is further segmented based on type, mode and geography.
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
Sub segments 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 Centers, Business Service Centers, 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 Armored 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 Labeling Services, Convention And Trade Show Organizers, All Other Support Services
By Geography: The global commercial services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global commercial services market, accounting for 30% of the market in 2020.
Read More On The Report For The Global Commercial Services Market At:https://www.thebusinessresearchcompany.com/report/commercial-services-global-market-report-2020-30-covid-19-impact-and-recovery
Commercial Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides commercial services market overviews, analyzes and forecasts market size and growth for the global commercial services market, commercial services market share, commercial services market players, commercial services market segments and geographies, commercial services market’s 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.