Global Market Research Services Market

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

Physical, engineering, and life sciences establishments are engaged in conducting research and experimental development in physical, engineering, and life sciences such as agriculture, environmental, botany, electronics, chemistry, fisheries, forests, mathematics, veterinary and other allied subjects. Research and development activities of physical engineering and life sciences organizations are funded by public sector organizations and commercial establishments. These organizations monetize their research findings, patents or products to fund their research activities. The global physical, engineering, and life sciences market is expected to grow from $455.83 billion in 2020 to $484.71 billion in 2021 at a compound annual growth rate (CAGR) of 6.3%. 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 $709.76 billion in 2025 at a CAGR of 10%. The physical, engineering, and life sciences market by type into physical and engineering sciences, life sciences services and by entities into organizations, sole traders, partnerships. A major transformation is under progress in the life science industry. Much of it is driven by the digital transformation which has a powerful re-imagination of the life science industry. Technology firms such as Microsoft, Cisco, IBM, Amazon and Google serve as the driving forces and initiators of digital life sciences transformation. Mobile computing is poised to support the digitization of health in combination with drug therapy, as well as through stand-alone therapies. Digital transformation can help people more effectively for making decisions on how to run the existing business and position the organization for the future. This rise in digital transformation drive the market growth. COVID-19 is an unprecedented challenge to the global life sciences industry. Pharmaceutical and biotech companies around the globe are working with governments to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. The UK and EU regulators have worked to provide up-to-date guidance in response to the evolving crisis, as well as to support research and development (R&D) that they hope will contain the impact of the spread. The MHRA stated that the safety of trial participants should be the first priority and this will remain its objective. These regulatory challenges can restrain the market growth. The introduction and advancement of new technologies such as nano sensors, bi-specific antibodies and computational biology have illustrated the progress that can be achieved through collaboration across a variety of disciplines between researchers and organisations. Collaboration between industry and regulators will promote greater self-regulation rooted in a culture of quality, operational competence and monitoring of results. The FDA has also suggested that it plans to partner with businesses more collaboratively to get products to market faster. collaboration will allow stakeholders to provide more responsive, more cost-effective treatment and better results. On January 2020, Vaccitech have announced their strategic collaboration with the Ludwig Institute for Cancer Research and Cancer Research UK (CRUK). In this partnership, CRUK’s Centre for Drug Development (CDD) will sponsor and manage a Phase I/II a clinical trial of the drug in combination with the current standard of care and first-line treatment (chemotherapy and anti-PD-1) in approximately 80 patients with the disease. The collaborators indicated new treatments for NSCLC are urgently needed, as it accounts for 88 percent of all cancer diagnoses in the UK each year, and only five percent of those survive for 10 years or more. The major players covered in the global physical, engineering, and life sciences market are IQVIA Holdings Inc, Battelle Memorial Institute, Syneos Health Inc, PRA Health Sciences Inc, Charles River Laboratories International Inc, PAREXEL International Corporation, Pharmaceutical Product Development LLC, Medpace Holdings Inc, Albany Molecular Research Inc, Hitachi High Technologies America Inc, PDL BioPharma Inc, Defense Advanced Research Projects Agency, Lawrence Livermore National Laboratory LLC, Los Alamos National Laboratory, AKKA Technologies (France), Qinetiq Group (UK), WuXi Apptec (China)., Argonne National Laboratory. The countries covered in the global physical, engineering, and life sciences market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global physical, engineering, and life sciences market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global physical, engineering, and life sciences market is segmented - 1) By Type: Physical And Engineering Sciences, Life Sciences Services 2) By Entities: Organizations, Sole Traders, Partnerships

The public opinion and election polling market consists of the sales of public opinion and election polling services and related goods by entities that are engaged in systematically gathering, recording, tabulating, and presenting public opinion data. Public opinion and election polling services include elections opinion polls and elections exit polls. The global public opinion and election polling market is expected to grow from $6.78 billion in 2020 to $6.93 billion in 2021 at a compound annual growth rate (CAGR) of 2.2%. 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 $7.4 billion in 2025 at a CAGR of 1.7%. The public opinion and election polling market covered in this report is segmented by mode into online surveys; paper surveys; telephonic surveys; one-to-one interviews. The increasing requirement for public opinion is anticipated to drive the demand for public opinion and election polling market. Public opinions and polls act as a measuring tool to find out what people think about a particular product, person, activity, company, or any other areas that are relevant to medical research and innovation. These polls help countries and companies to decide on a new leader, release a product, make changes to the organizational structure of activities, or make other important strategic decisions. The requirement for public opinion for making decisions in government and business activities aids in the growth of the market. Erroneous polling results are expected to hinder public opinion and the electoral polling market. This is due to various reasons such as error due to sampling, negative response rate, response bias where answers given by respondents do not reflect their true beliefs, coverage issues and questions being posed by the surveyors. Also, the opinion of the public may change with time and other influences that result in a different outcome. According to the press release of the Hindustan Times on the exit polls and the actual results of elections in India published in May 2019, the margins of the exit polls and the actual elections were different for the last four times the elections were conducted, between 1998 and 2014. This unpredictable situation makes it difficult for companies and countries to reach a specific endpoint, which impacts the public opinion and election polling market’s growth. Innovations and the launch of new techniques through partnerships and collaborations are gaining popularity in the public opinion and election polling market. Major companies operating in the industry and government organizations are introducing new technologies to make the surveys and voting more reliable, accessible, genuine, including the variability, and eliminating the errors. For instance, in December 2019, Luminoso, a text analytics company, has launched QuickLearn 2.0 that reduces bias in AI-powered text analysis and uncovers more accurate and easy-to-understand insights from concepts in text-based data. In February 2020, the Election Commission of India and IIT-M collaborated to develop a new voting technology, to allow electors to vote from distant cities without going to the designated polling stations of their respective electoral districts. In October 2019, Slingshot Insights Inc., a US-based expert network and market research firm has acquired Truth On Call, Inc. for an undisclosed amount. This acquisition has added surveys as an important tool for the market research framework of Slingshot Insights Inc., which furthers expands its network. Truth On Call, Inc. is a US-based healthcare survey and market research firm. The major players covered in the global public opinion and election polling market are Rasmussen Reports, Pew Research Centre, Nielsen Company, Ipsos, Eastcoast Research, SurveyMonkey Market Research Solutions, Gnosis Partners, Group Dynamics In Focus, YouGov. The countries covered in the global public opinion and election polling market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global public opinion and election polling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global public opinion and election polling market is segmented - 1) By Mode: Online Surveys, Paper Surveys, Telephonic Surveys, One-to-One Interviews 2) By Survey Type: Product Survey, Website Survey, Focus Group Survey, Conference Feedback Survey, Others 3) By Application: Public Opinion, Election Polling

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 legal services market consists of the 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 a team is responsible for the delivery of services to the client.The legal services market is segmented into B2B legal services; B2C services; hybrid services and criminal services. The global legal services market is expected to grow from $713.6 billion in 2020 to $734.6 billion in 2021 at a compound annual growth rate (CAGR) of 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 $908.7 billion in 2025 at a CAGR of 5%. North America was the largest region in the global legal services market, accounting for 56% of the market in 2020.Western Europe was the second largest region, accounting for 24% of the global market.Africa was the smallest region in the global legal services market. Political Trade Agreements Reforms - Globally, changes in political structure, legal reforms, and trade agreements are creating opportunities for law firms.International companies and organizations are bound to comply with various laws and regulations of different countries and specific trade agreements.Changes in the legal structure of intrastate agreements increases the demand for legal services.For instance, the UK's exit from the European Union is expected to increase the demand for law services due to the complexity of the regulatory and legislative changes pertaining to jurisdiction, judicial structure and trade.Law firms such as Dechert, Simmons & Simmons, Clifford Chance, and DLA Piper have set up specialized BREXIT teams and hotlines staffed with lawyers to help clients with a smooth transition.Going forward, the USA's withdrawal from the Trans-Pacific Partnership, Paris Agreement, and South Korea trade deal is expected to further drive the demand for legal services in the future. Coronavirus Pandemic - The outbreak of the Coronavirus disease (COVID-19) has acted as a restraint on the legal 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 legal 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. Law firms around the world are offering cybercrime legal consulting services to their clients, owing to the increasing incidence of this type of crime.Cybercrime refers to a crime that is committed using an internet connection and a computer.This includes cyber-stalking, counterfeiting, money laundering, embezzlement, fraud, and tax evasion using internet and electronic devices.In the UK alone, around $35 billion is the estimated annual cost of cybercrimes.Law firms offering cybercrime consulting services employ lawyers, consultants, and ethical hackers who are experienced in handling crisis management, online financial theft, loss of data, data privacy, and intellectual property infringement.Large law firms practicing in the field of data privacy and cybersecurity include Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom.The growing concern of organizations and individuals about cybercrimes is expected to increase the cybercrime legal consulting services market globally. Major companies in the market include Latham & Watkins; Kirkland & Ellis LLP; Baker & McKenzie; Skadden, Arps, Slate, Meagher & Flom; DLA Piper. The countries covered in the global legal services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global legal services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global legal services market is segmented - 1) By Type: B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices 2) By Size: Large Law Firms, SME Law Firms 3) By End-Users: Individuals, Financial Services, Mining And Oil & Gas, Manufacturing, Construction, IT Services, Others 4) By Type Of Practice: Litigation, Corporate, Labor/Employment, Real Estate, Patent Litigation, Tax, Bankruptcy, Others (Regulatory, M&A, Antitrust, Environmental) 5) By Mode: Online, Offline

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