DUBLIN--(BUSINESS WIRE)--The "Professional Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global professional services market as it emerges from the COVID-19 shut down.
The global professional services market is expected to grow from $5028. 94 billion in 2020 to $5428. 45 billion in 2021 at a compound annual growth rate (CAGR) of 7. 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7063. 87 billion in 2025 at a CAGR of 7%.
Companies Mentioned
- Deloitte Touche Tohmatsu Limited
- PricewaterhouseCoopers (PwC)
- Ernst & Young
- KPMG
- Accenture Plc
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
North America was the largest region in the global professional services market, accounting for 36% of the market in 2020. Western Europe was the second largest region accounting for 31% of the global professional services market. Africa was the smallest region in the global professional services market.
The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the professional services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the professional services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The professional services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3. 2% in 2019 and 3. 5% in 2020. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP is expected to grow at 7. 2%, whereas China is forecasted to register GDP growth of 6. 0% in 2020. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Professional Services Market Characteristics
4. Professional Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Professional Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Professional Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Professional Services Market Trends and Strategies
8. Impact of COVID-19 on Professional Services
9. Professional Services Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Professional Services Market Regional Analysis
10.1. Global Professional Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Professional Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Professional Services Market, Growth and Market Share Comparison, by Region
11. Professional Services Market Segmentation
12. Professional Services Market Segments
13. Professional Services Market Metrics
For more information about this report visit https://www.researchandmarkets.com/r/3aseoq
