PUBLISHER: The Business Research Company | PRODUCT CODE: 1680392
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680392
Business support services encompass outsourced administrative services that facilitate the smooth functioning of business operations. This involves establishments primarily engaged in providing services to other business entities on a fee or contract basis. These services can include advertising and mailing, business maintenance, and various management and consulting services.
The main types of business support services include document preparation services, telephone call centers, business service centers, collection agencies, credit bureaus, and other business support services. Document preparation service providers offer a range of services, such as business and regulatory document preparation, word processing, proofreading, desktop publishing, and formatting. These services cater to organizations of different sizes, including large enterprises and small and medium enterprises, and are accessible through various modes, including online and offline channels.
The business support services market research report is one of a series of new reports from The Business Research Company that provides business support services market statistics, including business support services industry global market size, regional shares, competitors with a business support services market share, detailed business support services market segments, market trends and opportunities, and any further data you may need to thrive in the business support services industry. This business support services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
The growth of the business support services market is anticipated to be driven by an increase in the establishment of new businesses. Business support services assist newly founded companies by offering a variety of essential services. For example, in September 2022, the Office for National Statistics, a UK government department, reported that the number of businesses in the UK rose to 2,767,700 in 2023, up from 2,765,150 in 2022. Additionally, in May 2024, the House of Commons Library, a UK parliamentary information resource, indicated that the number of businesses in the UK increased by 0.8% from 2022 to 2023. Thus, the rise in new business establishments is expected to drive growth in the business support services market moving forward.
The growing digital transformations within companies are expected to drive the growth of the business support services market in the future. Digital transformation involves leveraging technology and data to fundamentally enhance business processes, customer experiences, and overall operations. Business support services are crucial in facilitating this transformation by providing the necessary infrastructure, expertise, and resources. For example, a May 2023 report from the Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australian government agency, revealed that 68% of businesses in Australia have already adopted artificial intelligence (AI) technologies, with an additional 23% planning to implement them within the next year. Therefore, the increasing demand for digital upgrades among businesses is set to propel the growth of the business support services market.
The adoption of artificial intelligence (AI) in customer support activities is becoming increasingly prevalent among business organizations due to its ability to reduce operational costs significantly. AI systems perform tasks that traditionally require human intelligence, such as speech recognition, language translation, visual perception, and decision-making. This technology enables efficient handling of customer grievances and other interactions without human intervention, thereby enhancing efficiency and reducing operational costs. Adobe Inc. reported in July 2023 that top-performing enterprises displayed a substantial preference for leveraging AI technology in marketing, with a utilization rate of 28%. Additionally, 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.
Major companies in the business support services market are concentrating on developing innovative solutions, such as advanced digital business support services, to gain a competitive advantage. These digital business support services include a variety of online tools and solutions aimed at assisting companies with their operations and growth in the digital age. For example, in August 2023, iOPEX Technologies, a US-based digital transformation and technology services firm, launched iOPEX.AI. This enterprise AI framework is designed to drive digital transformation for businesses and features intelligent decision-making capabilities, tools to enhance customer experience, and support for business growth through advanced AI-driven insights. Additionally, the framework allows enterprises to utilize generative AI to optimize software development and streamline innovation in technology-driven processes.
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.
Western Europe was the largest region in the business support services market in 2024. Asia-Pacific was the second-largest region in the business support services market. The regions covered in the business support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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.
The business support services market consists of revenues earned by entities that provide business support services such as telephone answering, telemarketing bureaus and other contact centers, and private mail centers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Business Support Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on business support services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for business support services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The business support services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.