Global Professional Services Analysis 2019 To 2022

Posted by sainath on August 19th, 2019

The professional services market consists of the sales of professional services and related goods by entities (organizations, sole traders and partnerships) that offer services that provide support to businesses of all sizes, in all industries, and to individuals and institutions, in processes where human capital is the major input. Professional services 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

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The global professional services market reached a value of nearly ,700.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.4% since 2014.The global professional services market is expected to grow at a CAGR of 9.1% to nearly ,082.4 billion by 2022.

Growth in the historic period resulted from globalization, technological developments, companies outsourcing back end operations to low cost economies and increased mergers and acquisitions (M&A). Factors that negatively affected growth in the historic period were regulatory challenges, government regulations, skilled workforce shortages and scandals in the accounting industry.

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Few List of Tables:

Table 1: Architectural, Engineering Consultants And Related Services Market, Product/Service Offerings Examples

Table 2: Scientific Research And Development Services Market, Product/Service Offerings Examples

Table 3: Management Consulting Market, Product/Service Offerings Examples

Table 4: Design Services Market, Product/Service Offerings Examples

Table 5: Surveying And Mapping Market, Product/Service Offerings Examples

Table 6: Legal Services Market, Product/Service Offerings Examples

Table 7: Accounting Services Market, Product/Service Offerings - Examples

Table 8: Other Professional, Scientific, And Technical Services Market, Product/Service Offerings - Examples

Table 9: Global Professional Services Market, Historic Market Size, 2014 - 2018, $ Billion

Table 10: Global Professional Services Market, Forecast Market Size, 2018 - 2022, $ Billion

North America was the largest market for professional services, accounting for 33.4% of the global market in 2018. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, e the fastest growing regions in the professional services market will be in South America and Asia-Pacific, where growth will be at CAGRs of 16.4% and 12.4% respectively. These will be followed by the Middle East and Africa where the markets will grow at CAGRs of 12.2% and 13.1% respectively.