PROFESSIONAL SERVICES MARKET

LET’S KNOW HOW PROFESSIONAL SERVICES MARKET WILL GROW WITH HIGHER CAGR OF 7% TO HIT BY $ 6519.9 BILLION BY 2023


The professional service 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 service 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 individual markets within professional services are defined on the basis of the particular expertise and training of the services provider. The global professional services market is expected to grow from $5405.2 billion in 2019 to $5409.3 billion in 2020 at a compound annual growth rate (CAGR) of 0.1%. The low growth 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 7% from 2021 and reach $6519.9 billion in 2023.

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Leading players of Professional Services Market:

Deloitte Touche Tohmatsu Limited; Price water house Coopers (PwC); Ernst & Young; KPMG; Accenture Plc

The “Global Professional Services Market Analysis to 2023” is a specialized and in-depth study of the Professional Services market with a focus on the global market trend. The report aims to provide an overview of the global Professional Services market with detailed market segmentation by service, technology, industry vertical, and geography. The global Professional Services market is expected to witness high growth during the forecast period.

Segmentation by Type:

Design, Research, Promotional And Consulting Services; Legal Services; Accounting Services; All Other Professional, Scientific, and Technical Services

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Professional Services market based on the service, technology, and industry vertical. It also provides market size and forecast till 2023 for overall Professional Services market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM).

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