Commercial Services Market To Grow At A Higher Rate
Posted: Jan 27, 2019
The Business Research Company’s global commercial services market report, covers the year-on-year growth of the global commercial services market historic and forecast growth. It also includes chapters on the commercial services market trends, geographical analysis, and competitive landscape.
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The global commercial services market is forecast to grow at a CAGR (compound annual growth rate) of around 7 % to 2022.
Market name Market Trends
The commercial services market consists of the 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.
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 by 2020.
The global commercial services market is primarily driven by several factors such as increase in demand from business establishments seeking to outsource non-core operations to focus on key business areas.
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The global commercial services market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With adoption of advanced technologies and rapid globalization, the scope and potential of the global commercial services market is expected to increase in the forecast period. TBRC’s report also covers the drivers and restraints in the commercial services market.
The global commercial services market, segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global commercial services market report are Adecco Group, Randstad Holding, Manpower Inc and Waste Management Inc.Commercial Services Market Segmentation
The global commercial services market is further segmented based on type and geography.
By Type - The commercial services market is segmented into employment services, office administrative services, travel arrangement and reservation services, waste management and remediation services, other support services, among these segments, the other support services market accounts for the largest share in the global commercial services market.
By Geography - The global commercial services is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America commercial services market accounts the largest share in the global Commercial services market.
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