Global Professional Services Market Size 2024, Forecast To 2033
11 Mar, 2024
The professional services market size has experienced steady growth in recent years, escalating from $6207.14 billion in 2023 to $6506.51 billion in 2024, with a CAGR of 4.8%. The historic period's growth can be attributed to rising government support, global collaboration for environmental protection, strong economic growth in emerging markets, and the burgeoning legal tech industry. Looking ahead, the market is expected to see robust growth, reaching $7970.57 billion in 2028 at a CAGR of 5.2%. This growth in the forecast period is driven by a focus on digitizing business processes and sustainable development. Major trends include the adoption of alternative legal service providers, integration of artificial intelligence and cloud technology, implementation of blockchain technology, and emphasis on mergers and acquisitions to enhance product offerings and competitiveness.
Global Professional Services Market Key Driver
The growth of the professional services market is bolstered by the anticipated stable economic expansion in various developed and developing nations. In September 2023, the Conference Board reported a global real GDP increase of 2.9%, while the Organisation for Economic Co-operation and Development (OECD) projected a 2.7% global GDP growth in the same year. An interim report by the OECD in September 2023 further forecasts a 3.0% expansion of the global economy in 2023. This steady economic growth is poised to attract increased investments in end-user markets, serving as a driving force for the professional services market throughout the forecast period.
Get A Free Sample Of The Global Professional Services Market ReportGlobal Professional Services Market Segments
The professional services market covered in this report is segmented –
1) By Type: Design, Research, Promotional And Consulting Services, Legal Services, Accounting Services, All Other Professional, Scientific, Technical Services
2) By Mode: Online, Offline, Hybrid
2) By Service Provider: Large Enterprise, Small And Medium Enterprise
Sub segments: Photographic Services, Market Research Services, Advertising, Public Relations, And Related Services, Scientific Research And Development Services, Environmental Consulting Services, Management Consulting Services, Specialized Design Services, Architectural, Engineering Consultants And Related Services, B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices, Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing And Other Accounting Services, Translation Services, Other Professional, Scientific, And Technical Services
By Geography:The regions covered in the professional services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
North America was the largest region in the professional services market in 2023. Western Europe was the second largest region in the professional services market. The regions covered in the professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Professional Services Industry Players
Deloitte Touche Tohmatsu Limited, PwC, Ernst & Young, KPMG, Accenture, Mazars, Omnicom Group Inc, Slalom, Ruihua CPA, Business Connexion, Enviro Analysts & Engineers Private Limited, International Gulf Engineering Consultancy Bureau LLC, Yingke Law Firm, Interpublic Group, AlmapBBDO, Carat France, AECOM, Tata Consultancy Services, Kesarev Consulting, Boston Consulting Group, FCB Ulka, Bain & Company, WMcCann, Beijing Dentsu Advertising Co Ltd, A.T. Kearney, CMS, Nehlsen Middle East Environmental Consultancy, BBDO, Jacobs Engineering Group, Inc., Crowe, Akin Gump Strauss Hauer & Field LLP, Allen & Overy, DeHeng Law Offices, Picco Accounting, McKinsey & Company, AMEC Foster Wheeler, BlueFocus Communication Group Co. Ltd, FinExpertiza, Lince Consulting, Moscow Consulting Group, Dentons, WPP plc, Serviceplan, Cooley, Edge Evolve, BDO, Swan Environmental Private Limited, Baker Tilly, Baker & McKenzie, Aon Consulting, Alvarez & Marsal, Charles Ghadban Accounting, Publicis Groupe, Roland Berger Strategy Consultants, Kimley-Horn, Zhong Tian CPA, Huayong CPA, Oliver Wyman and Strategy, Dentsu, Cleary Gottlieb Steen & Hamilton LLP, Africa International Advisors
Get The Full Global Professional Services Market ReportProfessional Services Market Overview
Professional services refer to a wide range of specialized technical, knowledge-and-expert-based advisory support services provided to other businesses. Professional services help individuals, companies or organizations accomplish tasks or meet goals. Many career fields offer services focused on creating positive outcomes for customers.
Professional Services Global Market Report 2023 provides data on the global professional services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The professional services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.