business support services market, business support services market size, business support services market growth, business support services market trends, business support services market analysis, business support services market forecast
How much is the business support services market worth, and how is it expected to expand?
The business support services market size has grown strongly in recent years. It will grow from $618.56 billion in 2024 to $673.98 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to globalization, outsourcing trends, market competition, entrepreneurial landscape.
The business support services market size is expected to see strong growth in the next few years. It will grow to $921.62 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to remote work adoption, sustainability focus, data analytics and ai integration, regulatory and compliance changes, supply chain resilience. Major trends in the forecast period include digital transformation, cybersecurity concerns, technological advancements, customized business solutions, outsourcing growth.
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How has the business support services market evolved, and what factors have shaped its growth?
An increase in the establishment of new businesses is expected to propel the growth of the business support services market. Business support services help newly established businesses by providing a range of services. For instance, in September 2022, according to Office for National Statistics, a UK-based government department, in the UK, the number of businesses rose to 2,767,700 in 2023, an increase from 2,765,150 in 2022. Furthermore, in May 2024, according to the House of Commons Library, a UK-based information resource of UK Parliament, the number of businesses in the UK increased by 0.8% from 2022 to 2023. Therefore, the increase in the establishment of new businesses is expected to drive the business support services market going forward.
What are the major segments of the business support services market?
The business support services market covered in this report is segmented –
1) By Type: Document Preparation Services, Telephone Call Centers, Business Service Centers, Collection Agencies, Credit Bureaus, Other Business Support Services
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) By Mode: Online, Offline
Subsegments:
1) By Document Preparation Services: Data Entry Services, Document Formatting And Editing, Legal Document Preparation
2) By Telephone Call Centers: Inbound Call Centers, Outbound Call Centers, Tele marketing Services
3) By Business Service Centers: Virtual Office Services, Mail Handling And Forwarding, Administrative Support Services
4) By Collection Agencies: Debt Recovery Services, Accounts Receivable Management
5) By Credit Bureaus: Credit Reporting Services, Credit Scoring Services
6) By Other Business Support Services: market Research Services, Human Resources Outsourcing, IT Support Services
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Which companies dominate the business support services market?
Major companies operating in the business support services market include S&P Global Inc., Teleperformance SE, Sagiss Inc., Moody’s Corporation, Equifax Inc., Flexport Inc., TransUnion, VXI Global Solutions Inc., Intrum AB, WNS (Holdings) Limited, PRA Group Inc., Freshworks Inc., Helpware Inc., Quatrro Inc., Integra Global Solutions Inc., Zenoti Inc., Farmers Business Network Inc., Crexendo Inc., FirmsDesk Inc., Influx Corporation, SkyCom Corporation, Transcom WorldWide AB, Sykes Enterprises Inc., Working Solutions Inc., Small Enterprise Development Agency (SEDA), Sabrina’s Admin Services LLC, Badabusiness IBC Kanpur, Landlord Support Services LLC, The London Business Support Service Ltd.
How will evolving trends contribute to the growth of the business support services market?
Artificial intelligence is widely being used by business organizations in customer support activities as it considerably reduces operational costs. Artificial intelligence systems perform tasks that normally require human intelligence such as speech recognition, translation between languages, visual perception, and decision-making. This technology enables the handling of customer grievances and other interactions without human intervention, thereby increasing efficiency and reducing operational costs. It also helps manage support tickets in bulk and provides multi-language support and auto-responding to bulk emails. For instance, in July 2023, according to Adobe Inc., a US-based computer software company, top-performing enterprises displayed a significant preference for leveraging AI technology in marketing, with a utilization rate of 28%, compared to just 12% among their peers. Furthermore, nearly half (47%) of digitally mature organizations, characterized by advanced digital practices, have established well-defined AI strategies, highlighting the growing importance of artificial intelligence in contemporary business strategies.
What are the key regional dynamics of the business support services market, and which region leads in market share?
The countries covered in the business support 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.
What Does The Business Support Services Market Report 2025 Offer?
The business support services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Business support services refer to those outsourced administrative services that help business organizations in the smooth functioning of their operations. These means establishments primarily engaged in rendering services to business establishments on a fee or contract basis, including, but not limited to, advertising and mailing, business maintenance, and management and consulting services.
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