Commercial services are services that a company offers to other organizations or businesses. Commercial Services includes many technical services & specialized care services for instance lawn & garden care and delivery services.
According to study, “Commercial Services Global Market Report 2019” the key companies operating in the global commercial services market are Adecco Group, Manpower Inc, Randstad Holding, Waste Management Inc, Iss A/S And Sodexo Merchant Network, Tata Consultancy Services Limited, Genpact Ltd, Hewlett Packard Enterprise Co, Grant Thornton LLP, A.T. Kearney, Bureau Veritas SA, SGS SA, Intertek Group plc, ALS Limited, Geochemic Ltd., Shiva Analyticals & Testing Laboratories India, Activation Laboratories Ltd., Alex Stewart International, ACZ Laboratories, Inc., AGAT Laboratories Ltd., Autoweb Inc., Chinanet Online Holdings Inc., Groupon Inc., Insignia Systems Inc., MDC Partners Inc., Quinstreet Inc., Social Reality Inc., Monaker Group Inc., eXp World Holdings Inc., Eastside Distilling Inc., Harte Hanks Inc., Interpublic Group of Companies Inc., Omnicom Group Inc., Boston Omaha Corp., InnerWorkings Inc.,
Based on the type, global commercial services market is segmented into office administrative services, employment services, facilities support services, business support services, waste management & remediation services, travel arrangement & reservation services, investigation & security services and services to buildings & dwelling etc. Office administrative services are maintenance services, reception services, security & guard services and others. Employment services include employment placement agencies, temporary help services, executive search services, professional employer organizations, telephone call centers, document preparation services, business service centers, credit bureaus, collection agencies and others. Waste management & remediation services include waste collection, remediation services, waste treatment & disposal and other waste management services. Travel arrangement & reservation services include travel agencies, convention & visitors bureaus, tour operators, and other travel arrangement & reservation services. Investigation & security services include investigation, guard and armored services and other security system services. Services to buildings & dwellings services include exterminating & pest control services, landscaping services, janitorial services, carpet & upholstery cleaning services and others.
The commercial services market is driven by rapid proliferation of business analytics solutions, followed by increase in disposable income & hygiene consciousness, growth in economic outlook, rise in demand for smart-phones and improvement in cost & operational efficiency. However, reliability concerns, need for skilled personnel to maintain the process, and intense competition may impact the market. In addition, rise in demand for construction & post-construction cleaning services, technological advancements and increase in number of working women are key opportunities of the market. Additionally, artificial intelligence in customer support, technology to improve staffing services and automated billing systems are the major trends witnessed in the market.
Based on geography, the Asian-Pacific region holds major share in commercial services market owing to increase in population and augmentation in government initiatives in the region. The North-America region is expected to witness higher growth rate due to increase in investments in private sectors. With the increase in demand from business or production establishments seeking to outsource non-core operations to focus on key business areas, the scope & potential for the global market is expected to significantly rise in the forecast period.
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Ankur Gupta, Head Marketing & Communications