Global Legal Services Market

The engineering services market consists of sale of engineering services. Engineering services’ companies apply physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. Engineering services include technical application of engineering in product designing, innovations and others in industries such as building construction, mining, power and energy, transportation, manufacturing and others. The global engineering services market is expected to decline from $955.7 billion in 2019 to $945.2 billion in 2020 at a compound annual growth rate (CAGR) of -1.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $1101.2 billion in 2023. The engineering services market is expected to benefit from steady economic growth in developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. This trend will be mainly driven by regions of Asia and Africa. According to the report, Asia will represent 66% of the global middle-class population by 2030. For instance, the Indian IT-BPM industry grew by 7.7% in FY 2017, with software products and engineering services reaching US$ 25 billion. Going forward, the Asia Pacific and Middle Eastern region are expected to be the fastest growing markets in the engineering services, design, animation and graphic designing industries. Developing countries such as India and China have started attracting foreign investments to improve their infrastructure. This was mainly due to increase in internet penetration, growth in population and increasing economic activity. Lack of quality control and safety concerns of engineering firms may hinder the engineering services market growth. Defects or failures in construction activities result in high costs. These minor defects result in re-construction to make the facility operations impaired. Increased costs and delays are the results of ineffective internal controls and safety measures which hampers the end-to-end quality. For instance, QuEST, an engineering services company is facing difficulties caused due to lack of understanding, problems in execution process and inconsistency across various business units. Companies in the industry are incurring high maintenance and budgeting costs to develop new and advanced methods to combat issues of safety and control. The increasing popularity and adoption of the Internet of Things (IoT) across the globe is the latest trend in the engineering services market. Internet of things (IoT) is a system of inter-related devices enabling transmission of data over a wide range of network. IoT enables continuous innovations in real-time data analytics, design and develop products and help businesses grow at a faster pace. Engineering service providers are increasingly using industrial IoT to improve and optimize their production process with better energy usage, resource allocation, and assets management. For Instance, PureSoftware, an engineering service company, have successfully integrated IOT to engineering services and built a steady IOT platform to improve accuracy and speed to retrieve data. In 2017, India has 43% market share in the global IoT market followed by Western Europe and North America with 27% and 23% respectively. The Construction Design and Management Regulation also known as CDM Regulations/CDM 2015, came into force from 6 April 2015. These are the regulations governing the engineering service providers with respect to construction projects of all sizes and types. This CDM regulation 2015 was a replaced Construction (Design and Management) Regulation 2007, aiming to improve the overall health, safety and welfare of the workers and professionals involved in construction. This regulation specifies the general requirement, states safety norms and minimum welfare facilities required at the construction sites. In 2018, Schneider Electric acquired Larsen & Toubro electrical & automation (E&A) division for $1.9 billion. This acquisition would strengthen and innovate Schneider`s low voltage and industrial automation products business and create an efficient and enhanced Energy Management and Industrial Automation company. L&T Electrical & Automation offers electricity distribution and control solutions, services and products for various sectors such as industries, utilities, buildings, residences, marine and agriculture. L&T was established in 1946 and is headquartered in Mumbai, India.

Design Services Market Characteristics

The design services market consists of sales of 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 design projects according to the client’s specifications. Design service is the process of providing a plan or drawing of an object to clients to show the look and function or workings of a building, garment, or other object before it is made. Design service 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 a team is responsible for the delivery of services to the client.

Surveying And Mapping Market Definition

The surveying and mapping market consists of sales of surveying and mapping services by entities that provide surveying and mapping services. Surveying and mapping involve measurement of the earth’s surface including the sea floor, layout and measurement of project facilities, and preparation of maps.

The print advertising market consists of the sales of advertising services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities in print media such as periodicals and print newspapers. Only goods and services traded between entities or sold to end consumers are included. The global print advertising market is expected to decline from $39.30 billion in 2019 to $35.44 billion in 2020 at a compound annual growth rate (CAGR) of -9.82%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is expected to further decline and reach $30.8 billion in 2023 at a CAGR of -4.57%. Internet access, digital advertising, and an increase in the use of social media are acting as huge contributors to the decline in print production. Asia-Pacific was the largest region in the print advertising market in 2019 and is expected to remain the largest region in this market even in the forecast period. The huge population that subscribes to newspapers and magazines drives the print advertising market. According to the American Press Institute survey, a majority of newspaper subscribers also pay for a print magazine, which is one of the popular publication types with good scope for ads. According to the Audit Bureau of Circulations in November 2019, The Sun newspaper sold about 1.2 million copies in the UK. People of all ages read newspapers and magazines that are the mainstay of these print advertisements, however, the majority of the subscribers who pay for newspaper subscriptions are older adults and long-time readers. They find it easy to read newspapers as it provides them the leisure to read as per their time, and also that they use significantly fewer digital applications and spend less time on gadgets. This factor contributes to the growth of the print advertising market. The potential of print advertising to connect to multiple generations is also a key driving factor for the print advertising market. A study was conducted by Temple University and the US Postal Office of the Inspector in 2019 utilizing methods such as eye-tracking, core biometrics, and neuroimaging to test the effectiveness of print versus digital ads on both young and old groups of participants. The results showed that both the age groups processed physical ads faster than digital ads. This provides companies with the advantage of targeting wider generations giving the necessary exposure to their product, which aids in the growth of the print advertising market. The print advertising market is facing extensive competition from the newer digital advertising media such as internet and mobile advertising which is hampering the growth of the market. Companies are focusing on digital marketing means like social media for making the ads more interactive, touching, and delivering without location constraints and with faster reach. According to the Interactive Advertising Bureau (IAB) report, the internet ad revenue in 2019 was $124.6 billion. Advertisers believe that digital video is more suitable for entertaining every generation of consumers and, thus, they are choosing the digital video format, which is eliciting further growth. Therefore, the increased proliferation of digital marketing is likely to limit the expansion of the print advertising market in the coming years. Brands have exerted towards long-form of print ads, that is, full-page, full-worded communications. This is likely to be a major trend in the print advertising market. Brands, in general, will have a lot to communicate to their customers and positions to articulate, therefore, require communication that is not limited to 145 characters, a 15-second flash of information, or a single impactful visual. For instance, in July 2020, MasterCard published a two-page broadcast in The New York Times to express its support for the LGBTQIA+ community. Also, for its support for GLAAD`s NEON Legacy Series, a photo and video collection was created by Black LGBTQIA+ creators. In 2020, P&G has published a long-form of a print ad for its product Secret Deodorant/Anti-Perspirant that focuses on asking people to take part in Secret`s call for gender equality. In March 2020, Lambert & Co., a US-based public relations and integrated marketing firm, acquired Fairly Painless Advertising, Inc., a company providing marketing and advertising services, for an undisclosed amount. This acquisition is expected to move Lambert & Co. from a PR firm minoring in the ad and creative services to a fully-integrated agency majoring in the creative services and advertising field. Fairly Painless Advertising, Inc., is a US-based full-service advertising agency that provides research, planning, and creative services that cover print and digital design.

The legal services market consists of sales of law-related services and related goods by entities (organizations, sole traders and partnerships) that advise clients (individuals, businesses or other entities) about their legal rights and responsibilities, and represent clients in civil or criminal cases, business transactions and other matters in which legal advice and other assistance are sought. Legal 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 global legal services market is expected to decline from $734.1 billion in 2019 to $728.5 billion in 2020 at a compound annual growth rate (CAGR) of -0.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $845.7 billion in 2023. North America was the largest region in the global legal services market, accounting for 56% of the market in 2019. Western Europe was the second largest region accounting for 24% of the global legal services market. Africa was the smallest region in the global legal services market. Market-trend-based strategies for the legal services market include broadening services with information technology solutions, investing in data security systems to safeguard sensitive client data, outsourcing non-critical functions to offshore centers to reduce operational costs and increase profit margins, and offering diversified services to their clients to sustain the competition from accounting firms. Player-adopted strategies in the legal services industry include expanding services to new geographies through partnerships and collaborations and enhancing services by increasing partners head count.

The environmental consulting services (ECS) market consists of the sales of ECS goods and services 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 global environmental consulting services market is expected to decline from $31.3 billion in 2019 to $30.4 billion in 2020 at a compound annual growth rate (CAGR) of -2.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach $33.3 billion in 2023. North America was the largest region in the global environmental consulting services market, accounting for 50% of the market in 2019. 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. The environmental consulting services market is witnessing significant advances in technology. Such technologies are enabling businesses and households to reduce their carbon footprint. For instance, Bloom Energy developed the fuel cell system technology that has the capacity to produce electricity without burning fossil fuel, thereby reducing emission of greenhouse gases. The company successfully installed the technology for Morgan Stanley’s 750 thousand square feet New York office and a 6 acre solar panel field; both installations are expected to produce more than 3 million kilowatt hours (kWh) of energy per annum . Rapid advancements in technology and rising environmental awareness are driving companies to adopt large-scale solar projects, thus advising on these projects provides attractive opportunities for environmental consulting companies.

The marketing research and analysis services market consists of the sales of marketing research and analysis services and related goods by entities (organizations, sole traders, and partnerships) that are engaged in systematically gathering, recording, tabulating, and presenting marketing data. Marketing research and analysis services include marketing and management analytics and consumer insights. Only goods and services traded between entities or sold to end consumers are included. The global marketing research and analysis services market is expected to grow from $65.08 billion in 2020 to $68.73 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. 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 $83.39 billion in 2025 at a CAGR of 5%. The marketing research and analysis services market covered in this report is segmented by type into quantitative; qualitative; primary; secondary and by end use industry into IT services; manufacturing; financial services; construction; healthcare; others. The companies operating in the various industries are concentrating on increased profits and expanding consumer base by focusing on customer satisfaction. This is likely to act as a major driver for the development of the marketing research and analysis services industry over the forthcoming years. Customer satisfaction leads to increased revenues and profitability along with improved levels of customer retention. Marketing research and analysis help companies achieve these goals. For instance, marketing research help companies to understand the target customers, access key competitors, track customer satisfaction across multiple channels, identify areas of improvement for business, and to redefine business strategies to improve the performance of the business. Economic slowdown across countries attributing to the COVID19 outbreak is expected to limit the growth of the market during 2020. The global economy has taken a huge hit from the devastating implications of COVID19, as countries are imposing strict restrictions on the movement of people. The market research industry is among other industries impacted by the coronavirus recession. According to the World Bank’s news published in June 2020, COVID19 to plunge the global economy into the Worst Recession since World War II. The global economy is expected to shrink by 5.2% by the end of 2020. Economic activity in advanced and developing economies are expected to shrink by 7% and 2.5% during 2020. The USA economy is predicted to contract 6.1% in 2020, on account of disruptions related to the pandemic control measures. Moreover, the Euro area output is forecast to shrink to 9.1% in 2020. Artificial intelligence is a leading trend in the market research and analysis services industry. Increasing usage of the internet is forcing companies to make their product available online. The consumers rely on reviews, consumer surveys, and questionnaires before making a purchase. AI will ease the task of field engagement to perform these applications. For instance, Google Home, Amazon’s Echo, and other chatbots are creating a wave of artificial intelligence (AI) in market analysis. Artificial intelligence is significantly contributing to the growth of market analysis by eliminating the traditional research methods including surveys and qualitative research. Moreover, data scientists are expected to play a crucial role in enterprises to gather valuable insights on consumer behavior patterns through AI tools and social media platforms. Thus, artificial intelligence is anticipated to gain popularity in the marketing research and analysis services market. In January 2019, UserTesting, a human insight platform announced that the company has entered an agreement to acquire UserMuse, a market research service company for an undisclosed amount. The acquisition is aimed at creating the highest quality and largest global testing panel for Business-to-Consumer (B2C) and Business-to-Business (B2B) companies. Moreover, the agreement is likely to strengthen UserTesting’s position in customer experience management. UserMuse is a market research service designed for businesses that target corporate customers and institutions. The major players covered in the global marketing research and analysis services market are Nielsen, Kantar, Ipsos, GfK, Westat Inc., Gartner, Intage Inc, Information Resources Inc. (IRI), Mintel, Market Xcel Data Matrix Private Limited, Majestic MRSS, Forrester Research, ORC International Inc., RNB Research, Dynata, IQVIA. The countries covered in the global marketing research and analysis services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global marketing research and analysis services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global marketing research and analysis services market is segmented - 1) By Type: Quantitative, Qualitative, Primary, Secondary 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Healthcare, Others

The HR advisory market consists of the sales of HR advisory services by entities (organizations, sole traders and partnerships) that provide advice on human capital matters and/or offerings revolving around the HR function. HR advisory services are generally used by two types of clients – those aiming to improve their HR function by redesigning HR processes and those undergoing transformations such as mergers and acquisitions to ensure the new human capital is trained. Only goods and services traded between entities or sold to end consumers are included. The global HR advisory market is expected to grow from $77.42 billion in 2020 to $83.91 billion in 2021 at a compound annual growth rate (CAGR) of 8.4%. 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 $108.74 billion in 2025 at a CAGR of 6.7%. The HR advisory services market covered in this report is segmented by type into compensation consulting; benefits consulting; human resources management consulting; actuarial consulting; strategic consulting; others. The use of data-driven tools and analytics for employee engagement is a major driver contributing to the growth of the HR advisory services market. Employee engagement refers to a workplace approach that results in appropriate conditions for all the employees of the company to give their best performance every day by abiding by the values of the company with an enhanced feeling of their well-being. Professionals in human resource management are relying on data analytics and AI for key decisions. For instance, Genpact, an American professional services company, analyzes employee data, segments and categorizes it to find patterns such as at what age, salary range, or experience level, employees leave the organization. Predictive analytics is used to identify employees who are at high risk of voluntary attrition and interventions are designed to re-engage them. Further advances in data-driven tools and analytics are expected to drive the HR advisory service market. Cybersecurity threats for the human resource department is a major factor hindering the growth of the HR advisory services market. A cybersecurity breach is costly and equally destructive for all organizations - big or small. According to Heimdal Security, cyber-crimes costs the global economy $100 billion every year and $17 million in the USA alone. HR professionals maintain extremely private and sensitive information such as social security number, date of birth, address, and bank details. In addition to this, according to the Forrester Analytics Global Business Technographics® Security Survey 2019, 52% of enterprise network security decision-makers experienced at least one data breach in the last 12 months, and 44% of breaches were caused by employees who intentionally or not, exposed sensitive data to data thieves or hackers. Companies rely on their HR department and do not outsource HR services because there is a risk of losing important employee data in availing external HR services, thereby restraining the growth of the HR advisory services market over the coming years. Organizations across the globe are focusing on creating a digital workplace using cloud services and AI, which is gaining significant popularity in the HR advisory market. The digital workplace is a modern concept using digital transformation to align technology to achieve organizational goals with operational efficiency. Cloud services and AI are important parts of the digital workplace helping in removing geographic barriers for improved collaboration, increased productivity and employee engagement, improved decision making, and also in optimizing costs. For instance, in 2018, DBS bank created Jobs Intelligence Maestro (JIM), a virtual AI-powered bot to conduct candidate screening. JIM helped in reducing screening time to 8 minutes from 32 minutes and improved the completion rate of total applications for a job to 97% from 85%. The increasing use of AI and cloud services will bring significant changes in HR advisory services in the coming years. In March 2020, Aon Plc, a London-based global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, acquired Willis Towers Watson (WTW), the UK-based risk management, insurance brokerage, and advisory company, for $30 billion. The acquisition will strengthen Aon Plc's expertise in cybersecurity, intellectual property, climate change, and health solutions. The combined entity would work together in risk, retirement, and health businesses. Willis Towers Watson (WTW) is a London-based company that helps clients around the world in 140 countries in global advisory, HR consulting and software, broking, and other solutions. The major players covered in the global HR advisory services market are IBM Corporation, Mckesson Corporation, Dell, Tata Consultancy Services, Infosys Limited, Accenture PLC, Aon, Deloitte Touche Tohmatsu Limited, The Adecco Group, Marsh & McLennan Companies Inc, Willis Towers Watson, Hay Group, Automatic Data Processing (ADP) Inc., Oracle Corporation, Kronos Incorporated, Randstad. Manpower, Mercer, ManpowerGroup, SYNERGIE, KORN FERRY, KRONOS, ROBERT WALTERS. The countries covered in the global HR advisory services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global HR advisory services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global HR advisory services market is segmented - 1) By Type: Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting, Other 2) By Service: Integration & Deployment, Support & Maintenance, Training & Consulting 3) By End-Use: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Others