Commercial Services Global Market Report 2022

·3-min read
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Major companies in the commercial services market include BCD Travel, Randstad Holding NV, Adecco Group, Travel Leaders Group, TUI Group, Recruit Holdings, ManpowerGroup Inc. , Waste Management Inc. , Securitas AB and Veolia Environment SA.

New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Services Global Market Report 2022" - https://www.reportlinker.com/p06229738/?utm_source=GNW


The global commercial services market is expected to grow from $4572.13 billion in 2021 to $5147.92 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. 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 $7892.62 billion in 2026 at a CAGR of 11.3%.

The commercial services market consists of sales of commercial services by entities (organizations, sole traders and partnerships) that perform support activities for the day-to-day operations of other businesses or organizations. Examples include office facilities management services, travel arrangement services.

The main types of commercial services are office administrative services, facilities support services, employment services, business support services, travel arrangement and reservation services, waste management and remediation services, investigation and security services, services to buildings and dwellings, other support services.Office administration refers to a set of day-to-day operations linked to the upkeep of an office space, financial management, record keeping and billing, personal development, physical distribution, and logistics.

The different modes include online, offline and involves various service types such as hard services, soft services, other services.

Artificial intelligence is widely being used by business organizations in customer support activities as it considerably reduces operational costs xx.Artificial intelligence systems perform tasks that normally require human intelligence such as speech recognition, translation between languages, visual perception, decision-making.

This technology enables 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, provides multi-language support and auto responding of bulk emails.

According to a study by Oracle, nearly 8 out of 10 businesses have already implemented or planning to adapt artificial intelligence in customer support in 2020. Some of the companies using artificial intelligence in customer support include China Merchant Bank, Fiat Argentina, Toshiba France, KLM airlines.

Asia Pacific was the largest region in the commercial services market in 2021.Western Europe was the second-largest region in commercial services market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the commercial services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06229738/?utm_source=GNW

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