Technology and digitalization have transformed the business services sector in recent years - and keep doing so - with many services now being provided through web platforms and system, or mobile apps. Startups have sprung up across the world, with ideas and business solutions that are innovative, flexible, and sustainable. New communication technologies and infrastructures allowed the industry to expand its reach, making outsourcing more and more common. With organizations choosing outsourcing over in-house solutions, business services providers are developing fast to respond to transforming needs and demands. The impact of the coronavirus pandemic will likely accelerate these trends, with companies looking for new technological solutions to provide their services and to adapt to the new market dynamics.
In recent years, the management consulting sector has expanded at a fast pace, with North America and Europe being the largest markets. An increasing number of organizations hire consultants to seek advice on how to overcome challenges and improve business performance. In 2020, McKinsey & Company ranked as the most prestigious consulting firm in the United States. However, the global leaders in the sector are the so-called Big Four - Deloitte, EY, KPMG, and PwC.
Largest consulting markets worldwideDue to the ever-increasing amount of data produced, gathered, and then analyzed, the global revenue of this industry has experienced strong growth in recent years. Market research, which relies on tools such as statistics, models, surveys, and, increasingly, big data analytics, has become crucial to predict and meet customers’ needs, to effectively promote R&D, and to invest in new markets. Global leaders in this industry include Nielsen Holdings, Kantar, IQVIA, Ipsos, and GfK Group.
Regional breakdown of the market research revenueFacility managers’ task is to ensure that work environments are efficient and safe, by integrating technology, people, and processes. The global FM market is expected to keep growing in the coming years, with more companies focusing on employees’ safety and wellbeing. However, the coronavirus (COVID-19) pandemic has changed the traditional attitudes towards workplaces and offices, which calls for a re-thinking of the idea of workspaces and a transition to more flexible working solutions.
Leading facility services providers by market capitalizationFollowing a decade of continuous growth, the global staffing industry generated a revenue of nearly half a trillion U.S. dollars in 2019. In recent years, social professional networks, like LinkedIn, and Xing, have transformed the industry, becoming the leading platforms for jobseekers to promote themselves and for companies to find quality candidates. This trend will likely continue, supported by further technological advancements, like AI and predictive analytics.
Leading companies in the staffing industry worldwideThe section Business Services provides data and insights on the B2B services industry. This industry encompasses a wide variety of sectors, according to the service offered. The main sectors include accounting and consulting, facility management, market research, and staffing. Companies operating in the business services industry provide professional, scientific, and technical support to organizations operating in other industries. These companies rely on highly skilled labor, and employees often require advanced degrees or specialized trainings.
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