Dublin, March 08, 2021 (GLOBE NEWSWIRE) — The “Business Support Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global business support services market as it emerges from the COVID-19 shut down.
The global business support services market is expected to grow from $466.71 billion in 2020 to $521.77 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. 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 $679.67 billion in 2025 at a CAGR of 7%.
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Where is the largest and fastest growing market for the business support services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Business Support Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider business support services market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The business support services market section of the report gives context. It compares the business support services market with other segments of the commercial services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, business support services indicators comparison.
Major companies in the business support services market include Tata Consultancy Services Limited; Hewlett Packard Enterprise Co; Genpact Ltd; A.T. Kearney and Grant Thornton LLP.
The business support services market consists of sales of business support services and related goods by entities (organizations, sole traders and partnerships) that provide business support services such as document preparation, telephone call centers, telephone answering, telemarketing bureaus and other contact centers, and private mail centers. The business support services market is segmented into document preparation services; telephone call centers; business service centers; collection agencies; credit bureaus and other business support services.
Western Europe was the largest region in the global business support services market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global business support services market. Africa was the smallest region in the global business support 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, and 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 by 2020. Some of the companies using artificial intelligence in customer support include China Merchant Bank, Fiat Argentina, Toshiba France, KLM airlines.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Business Support Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Business Support Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Business Support Services Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Business Support Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Business Support Services Market Trends and Strategies
8. Impact of COVID-19 on Business Support Services
9. Business Support Services Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Business Support Services Market Regional Analysis
10.1. Global Business Support Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Business Support Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Business Support Services Market, Growth and Market Share Comparison, by Region
11. Business Support Services Market Segmentation
11.1. Global Business Support Services Market, Segmentation by Type
11.2. Global Business Support Services Market, Segmentation by Organisation Size
11.3. Global Business Support Services Market, Segmentation by Mode
12. Business Support Services Market Metrics
12.1. Business Support Services Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Business Support Services Market Expenditure, 2015-2025, Global
13. Asia-Pacific Business Support Services Market
14. Western Europe Business Support Services Market
15. Eastern Europe Business Support Services Market
16. North America Business Support Services Market
17. South America Business Support Services Market
18. Middle East Business Support Services Market
19. Africa Business Support Services Market
20. Business Support Services Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Tata Consultancy Services Limited
220.127.116.11. Company Overview
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
20.3.2. Hewlett Packard Enterprise Co
126.96.36.199. Company Overview
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
20.3.3. Genpact Ltd
220.127.116.11. Company Overview
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
20.3.4. A.T. Kearney
126.96.36.199. Company Overview
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
20.3.5. Grant Thornton LLP
220.127.116.11. Company Overview
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
21. Key Mergers and Acquisitions in the Business Support Services Market
22. Market Background: Commercial Services Market
22.1. Commercial Services Market Characteristics
22.2. Commercial Services Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Commercial Services Market, 2020, by Region, Value ($ Billion)
22.4. Global Commercial Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Commercial Services Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
23.1. Global Business Support Services Market in 2025 – Growth Countries
23.2. Global Business Support Services Market in 2025 – Growth Segments
23.3. Global Business Support Services Market in 2025 – Growth Strategies
24.1. NAICS Definitions of Industry Covered in this Report
24.4. Research Inquiries
24.5. About the Publisher
25. Copyright and Disclaimer
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