GITNUX REPORT 2024

Business Services Industry Statistics: Explosive Growth Forecast Through 2030

Dive into the booming business services industry with staggering statistics and projections for 2030.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The global business process outsourcing market size was valued at USD 261.9 billion in 2022

Statistic 2

The business process outsourcing market is expected to expand at a CAGR of 9.4% from 2023 to 2030

Statistic 3

The IT & telecommunications segment accounted for the largest revenue share of 34.7% in 2022

Statistic 4

The global business process outsourcing market is projected to reach USD 525.2 billion by 2030

Statistic 5

The BFSI segment in business process outsourcing is expected to grow at a CAGR of 10.1% from 2023 to 2030

Statistic 6

The global customer experience management market size was valued at USD 9.5 billion in 2022

Statistic 7

The customer experience management market is projected to reach USD 21.3 billion by 2027

Statistic 8

The global finance and accounting outsourcing market size was valued at USD 40.76 billion in 2022

Statistic 9

The finance and accounting outsourcing market is expected to expand at a CAGR of 8.3% from 2023 to 2030

Statistic 10

The global customer service outsourcing market size was valued at USD 88.3 billion in 2022

Statistic 11

The customer service outsourcing market is expected to expand at a CAGR of 8.6% from 2023 to 2030

Statistic 12

The global facility management market size was valued at USD 1.26 trillion in 2022

Statistic 13

The facility management market is expected to expand at a CAGR of 7.6% from 2023 to 2030

Statistic 14

The outsourced segment accounted for the largest revenue share of 60.5% in 2022

Statistic 15

The global facility management market is projected to reach USD 2.15 trillion by 2030

Statistic 16

The in-house segment in facility management is expected to grow at a CAGR of 8.2% from 2023 to 2030

Statistic 17

The global smart building market size was valued at USD 66.3 billion in 2020

Statistic 18

The smart building market is projected to reach USD 108.9 billion by 2025

Statistic 19

The global integrated facility management market size was valued at USD 80.86 billion in 2021

Statistic 20

The integrated facility management market is projected to reach USD 135.24 billion by 2029

Statistic 21

The global energy management systems market size was valued at USD 35.7 billion in 2022

Statistic 22

The energy management systems market is projected to reach USD 96.8 billion by 2027

Statistic 23

The global human resource management market size was valued at USD 19.86 billion in 2022

Statistic 24

The human resource management market is expected to expand at a CAGR of 12.5% from 2023 to 2030

Statistic 25

The core HR segment accounted for the largest revenue share of 34.1% in 2022

Statistic 26

The global human resource management market is projected to reach USD 51.07 billion by 2030

Statistic 27

The workforce management segment in HR is expected to grow at a CAGR of 13.1% from 2023 to 2030

Statistic 28

The global HR analytics market size was valued at USD 2.7 billion in 2021

Statistic 29

The HR analytics market is expected to grow to USD 5.0 billion by 2026

Statistic 30

The global talent management software market size was valued at USD 7.4 billion in 2021

Statistic 31

The talent management software market is expected to reach USD 13.0 billion by 2026

Statistic 32

The global workforce management market size was valued at USD 7.03 billion in 2020

Statistic 33

The workforce management market is expected to reach USD 9.93 billion by 2025

Statistic 34

The IT services segment accounted for the largest revenue share of 30.5% in 2022

Statistic 35

The global IT services market size was valued at USD 1,112.84 billion in 2022

Statistic 36

The IT services market is projected to grow from USD 1,200.47 billion in 2023 to USD 2,140.77 billion by 2030

Statistic 37

The global IT services market is expected to reach USD 1.7 trillion by 2027

Statistic 38

Cloud-related services are expected to account for 40% of the IT services market by 2027

Statistic 39

The global IT consulting market size was valued at USD 53.7 billion in 2020

Statistic 40

The IT consulting market is projected to reach USD 382.0 billion by 2030

Statistic 41

The global cloud computing market size was valued at USD 483.98 billion in 2022

Statistic 42

The cloud computing market is expected to expand at a CAGR of 14.1% from 2023 to 2030

Statistic 43

The global cybersecurity market size was valued at USD 202.72 billion in 2022

Statistic 44

The cybersecurity market is expected to expand at a CAGR of 12.3% from 2023 to 2030

Statistic 45

The global management consulting market size was valued at USD 295.0 billion in 2022

Statistic 46

The management consulting market is expected to expand at a CAGR of 8.5% from 2023 to 2030

Statistic 47

The strategy consulting segment accounted for the largest revenue share of 33.2% in 2022

Statistic 48

The global management consulting market is projected to reach USD 566.2 billion by 2030

Statistic 49

The operations consulting segment in management consulting is expected to grow at a CAGR of 9.1% from 2023 to 2030

Statistic 50

The global strategy consulting market size was valued at USD 45.1 billion in 2021

Statistic 51

The strategy consulting market is projected to reach USD 101.75 billion by 2028

Statistic 52

The global operations consulting market size was valued at USD 78.5 billion in 2021

Statistic 53

The operations consulting market is projected to reach USD 143.4 billion by 2031

Statistic 54

The global business services market size was valued at USD 5.54 trillion in 2022

Statistic 55

The business services market is expected to grow at a CAGR of 7.9% from 2023 to 2030

Statistic 56

The global marketing services market size was valued at USD 475.3 billion in 2022

Statistic 57

The marketing services market is expected to expand at a CAGR of 9.5% from 2023 to 2030

Statistic 58

The digital marketing segment accounted for the largest revenue share of 45.2% in 2022

Statistic 59

The global marketing services market is projected to reach USD 1.04 trillion by 2030

Statistic 60

The traditional marketing segment in marketing services is expected to grow at a CAGR of 7.8% from 2023 to 2030

Statistic 61

The global digital marketing software market size was valued at USD 56.5 billion in 2021

Statistic 62

The digital marketing software market is expected to reach USD 146.8 billion by 2026

Statistic 63

The global social media marketing market size was valued at USD 132.9 billion in 2022

Statistic 64

The social media marketing market is expected to expand at a CAGR of 24.7% from 2023 to 2030

Statistic 65

The global content marketing market size was valued at USD 360.25 billion in 2022

Statistic 66

The content marketing market is expected to expand at a CAGR of 16.2% from 2023 to 2030

Share:FacebookLinkedIn
Sources

Our Reports have been cited by:

Trust Badges

Summary

  • The global business services market size was valued at USD 5.54 trillion in 2022
  • The business services market is expected to grow at a CAGR of 7.9% from 2023 to 2030
  • The IT services segment accounted for the largest revenue share of 30.5% in 2022
  • The global IT services market size was valued at USD 1,112.84 billion in 2022
  • The IT services market is projected to grow from USD 1,200.47 billion in 2023 to USD 2,140.77 billion by 2030
  • The global management consulting market size was valued at USD 295.0 billion in 2022
  • The management consulting market is expected to expand at a CAGR of 8.5% from 2023 to 2030
  • The strategy consulting segment accounted for the largest revenue share of 33.2% in 2022
  • The global human resource management market size was valued at USD 19.86 billion in 2022
  • The human resource management market is expected to expand at a CAGR of 12.5% from 2023 to 2030
  • The core HR segment accounted for the largest revenue share of 34.1% in 2022
  • The global facility management market size was valued at USD 1.26 trillion in 2022
  • The facility management market is expected to expand at a CAGR of 7.6% from 2023 to 2030
  • The outsourced segment accounted for the largest revenue share of 60.5% in 2022
  • The global marketing services market size was valued at USD 475.3 billion in 2022

Step right up, folks! Get your hot-off-the-press serving of mind-boggling numbers and wild predictions in the bustling world of business services. Picture this: a market valued at an eye-popping USD 5.54 trillion in 2022, set to grow at a dizzying CAGR of 7.9% till 2030. From dominant IT services ruling the roost with a 30.5% revenue share to the meteoric rise of digital marketing grabbing 45.2% of the pie, these statistics are not for the faint of heart. Follow along as we dissect the future of this industry where even the facility management market is slated to double in size like a magician pulling a rabbit out of a hat!

Business Process Outsourcing

  • The global business process outsourcing market size was valued at USD 261.9 billion in 2022
  • The business process outsourcing market is expected to expand at a CAGR of 9.4% from 2023 to 2030
  • The IT & telecommunications segment accounted for the largest revenue share of 34.7% in 2022
  • The global business process outsourcing market is projected to reach USD 525.2 billion by 2030
  • The BFSI segment in business process outsourcing is expected to grow at a CAGR of 10.1% from 2023 to 2030
  • The global customer experience management market size was valued at USD 9.5 billion in 2022
  • The customer experience management market is projected to reach USD 21.3 billion by 2027
  • The global finance and accounting outsourcing market size was valued at USD 40.76 billion in 2022
  • The finance and accounting outsourcing market is expected to expand at a CAGR of 8.3% from 2023 to 2030
  • The global customer service outsourcing market size was valued at USD 88.3 billion in 2022
  • The customer service outsourcing market is expected to expand at a CAGR of 8.6% from 2023 to 2030

Interpretation

The global business services industry seems to be on a growth trajectory that even the most enthusiastic CEO would envy. With figures skyrocketing faster than a tech startup valuation, it's clear that businesses are outsourcing everything from IT to customer service faster than you can say "AI-powered efficiency." The numbers tell a story of a world where customer experience is king, finance and accounting aren't just about crunching numbers, and the BFSI segment is more than just a jumble of letters. Whether you're in the telecommunications trenches or the customer service frontlines, one thing's for sure - buckle up, because the business process outsourcing rollercoaster is only gaining speed.

Facility Management

  • The global facility management market size was valued at USD 1.26 trillion in 2022
  • The facility management market is expected to expand at a CAGR of 7.6% from 2023 to 2030
  • The outsourced segment accounted for the largest revenue share of 60.5% in 2022
  • The global facility management market is projected to reach USD 2.15 trillion by 2030
  • The in-house segment in facility management is expected to grow at a CAGR of 8.2% from 2023 to 2030
  • The global smart building market size was valued at USD 66.3 billion in 2020
  • The smart building market is projected to reach USD 108.9 billion by 2025
  • The global integrated facility management market size was valued at USD 80.86 billion in 2021
  • The integrated facility management market is projected to reach USD 135.24 billion by 2029
  • The global energy management systems market size was valued at USD 35.7 billion in 2022
  • The energy management systems market is projected to reach USD 96.8 billion by 2027

Interpretation

The Business Services Industry seems to be hitting all the right buttons, with the facility management market poised for an impressive growth spurt in the coming years. As outsourced services dominate the scene with a significant revenue share, it's clear that businesses are keen on delegating their non-core tasks to experts. The rise of smart buildings and integrated facility management underscores a shift towards efficiency and sustainability in the industry, with a promising leap in investment towards energy management systems on the horizon. It seems like the Business Services Industry is not just managing facilities but also managing to secure a lucrative future ahead.

Human Resources

  • The global human resource management market size was valued at USD 19.86 billion in 2022
  • The human resource management market is expected to expand at a CAGR of 12.5% from 2023 to 2030
  • The core HR segment accounted for the largest revenue share of 34.1% in 2022
  • The global human resource management market is projected to reach USD 51.07 billion by 2030
  • The workforce management segment in HR is expected to grow at a CAGR of 13.1% from 2023 to 2030
  • The global HR analytics market size was valued at USD 2.7 billion in 2021
  • The HR analytics market is expected to grow to USD 5.0 billion by 2026
  • The global talent management software market size was valued at USD 7.4 billion in 2021
  • The talent management software market is expected to reach USD 13.0 billion by 2026
  • The global workforce management market size was valued at USD 7.03 billion in 2020
  • The workforce management market is expected to reach USD 9.93 billion by 2025

Interpretation

The staggering growth projections in the global human resource management industry indicate that the world of work is evolving at an unprecedented pace, demanding innovative solutions to meet the needs of a dynamic workforce. With core HR leading the charge and workforce management on the rise, organizations are recognizing the critical importance of investing in technology and analytics to attract, retain, and develop top talent. As the market balloons to billions of dollars, it's clear that the traditional paper-pushing days of HR are long gone, and those who fail to adapt risk being left behind in the dust of digital transformation. In this high-stakes game of talent management software and workforce optimization, only the agile and forward-thinking will emerge as winners in the race for human capital supremacy.

IT Services

  • The IT services segment accounted for the largest revenue share of 30.5% in 2022
  • The global IT services market size was valued at USD 1,112.84 billion in 2022
  • The IT services market is projected to grow from USD 1,200.47 billion in 2023 to USD 2,140.77 billion by 2030
  • The global IT services market is expected to reach USD 1.7 trillion by 2027
  • Cloud-related services are expected to account for 40% of the IT services market by 2027
  • The global IT consulting market size was valued at USD 53.7 billion in 2020
  • The IT consulting market is projected to reach USD 382.0 billion by 2030
  • The global cloud computing market size was valued at USD 483.98 billion in 2022
  • The cloud computing market is expected to expand at a CAGR of 14.1% from 2023 to 2030
  • The global cybersecurity market size was valued at USD 202.72 billion in 2022
  • The cybersecurity market is expected to expand at a CAGR of 12.3% from 2023 to 2030

Interpretation

In a world where bytes are the new currency and cyber threats lurk around every virtual corner, the IT services industry stands as the almighty keeper of our digital realm. With revenues soaring to the stratosphere and market sizes reaching the trillion-dollar mark, it's clear that the IT services segment is the undisputed heavyweight champion of the business services arena. As cloud-related services rise to claim their lion's share and cybersecurity becomes the fortress wall against the dark forces of cyberspace, one thing is certain: the future belongs to those who wield the power of IT consulting with finesse and foresight. So, saddle up, tech warriors, for the battle for digital supremacy is just beginning!

Management Consulting

  • The global management consulting market size was valued at USD 295.0 billion in 2022
  • The management consulting market is expected to expand at a CAGR of 8.5% from 2023 to 2030
  • The strategy consulting segment accounted for the largest revenue share of 33.2% in 2022
  • The global management consulting market is projected to reach USD 566.2 billion by 2030
  • The operations consulting segment in management consulting is expected to grow at a CAGR of 9.1% from 2023 to 2030
  • The global strategy consulting market size was valued at USD 45.1 billion in 2021
  • The strategy consulting market is projected to reach USD 101.75 billion by 2028
  • The global operations consulting market size was valued at USD 78.5 billion in 2021
  • The operations consulting market is projected to reach USD 143.4 billion by 2031

Interpretation

Like a well-executed business strategy, the global management consulting market is on a steady upward trajectory, expanding faster than a CEO's inbox on a Monday morning. With the strategy consulting segment leading the charge like a well-dressed general in a boardroom battlefield, it's no surprise that the industry is projected to reach the billion-dollar milestone by 2030. Operations consulting is also flexing its muscles, growing at a rate that would make even the most ambitious startup entrepreneur envious. It seems that in the ever-evolving landscape of business services, consultants are the unsung heroes helping companies navigate the maze of success with precision and panache.

Market Size and Growth

  • The global business services market size was valued at USD 5.54 trillion in 2022
  • The business services market is expected to grow at a CAGR of 7.9% from 2023 to 2030

Interpretation

In the dynamic world of business services, where zeros on financial reports have a way of multiplying faster than rabbits in a magic hat, the USD 5.54 trillion market valuation in 2022 should come as no surprise. With a projected Compound Annual Growth Rate (CAGR) of 7.9% from 2023 to 2030, one thing's for sure - this industry is on a rocket-fueled journey to the financial stratosphere. As companies worldwide continue to tap into outsourced expertise and cutting-edge solutions, it seems like the business services market is about to prove that money indeed never sleeps.

Marketing Services

  • The global marketing services market size was valued at USD 475.3 billion in 2022
  • The marketing services market is expected to expand at a CAGR of 9.5% from 2023 to 2030
  • The digital marketing segment accounted for the largest revenue share of 45.2% in 2022
  • The global marketing services market is projected to reach USD 1.04 trillion by 2030
  • The traditional marketing segment in marketing services is expected to grow at a CAGR of 7.8% from 2023 to 2030
  • The global digital marketing software market size was valued at USD 56.5 billion in 2021
  • The digital marketing software market is expected to reach USD 146.8 billion by 2026
  • The global social media marketing market size was valued at USD 132.9 billion in 2022
  • The social media marketing market is expected to expand at a CAGR of 24.7% from 2023 to 2030
  • The global content marketing market size was valued at USD 360.25 billion in 2022
  • The content marketing market is expected to expand at a CAGR of 16.2% from 2023 to 2030

Interpretation

In a digital age where attention spans are shorter than a TikTok video, the Business Services Industry is experiencing a marketing revolution of epic proportions. With the global marketing services market set to skyrocket to over a trillion dollars by 2030, it's clear that the power of pixels and pixels is reshaping the way businesses connect with consumers. The digital marketing segment leads the charge, grabbing the lion's share of revenue as traditional marketing methods struggle to keep up. As social media marketing booms and content marketing weaves its persuasive web, one thing is certain: in a world of likes and clicks, the only constant is change.

References