Global Business Support Services Market Grows Steadily, Projected to Reach $931.35 Billion by 2027

LANDON, GREATER LANDON, UK, December 6, 2023 /EINPresswire.com/ -- The global business support services market demonstrates consistent growth, expanding from $624.82 billion in 2022 to $681.66 billion in 2023, reflecting a commendable compound annual growth rate (CAGR) of 9.1%. Projections anticipate further expansion, with the market expected to reach $931.35 billion by 2027, sustaining a CAGR of 8.1%.

Driving Force: Surge in New Business Establishments

The market's growth is significantly propelled by the increasing establishment of new businesses globally. Business support services play a pivotal role in assisting newly founded businesses by providing a spectrum of essential services. Notably, data from the Bureau of the Census reveals a substantial surge in new business applications in the US, reaching 5.4 million in 2021, marking a remarkable 22.7% increase from the previous year. This surge in business establishments is expected to drive the business support services market in the coming years.

Key Players Shaping the Market Landscape

Major companies influencing the business support services market include Apple, Teleperformance SE, Equifax Inc., S&P Global Inc., Moodys Corporation, TransUnion, PRA Group, Inc., Intrum AB, WNS (Holdings) Limited, and Transcom WorldWide AB. These industry leaders play a crucial role in steering market trends and innovations.

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Regional Dynamics

Western Europe emerged as the largest region in the business support services market in 2022, showcasing significant market presence. Asia-Pacific secured the second-largest position, emphasizing the global distribution of the market. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Market Segmentation
The global business support services market is intricately segmented based on:
1. Type:
• Document Preparation Services
• Telephone Call Centers
• Business Service Centers
• Collection Agencies
• Credit Bureaus
• Other Business Support Services

2. Organisation Size:
• Large Enterprise
• Small and Medium Enterprise

3. Mode:
• Online
• Offline

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Business Support Services Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Business Support Services Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on business support services market size, business support services market drivers and trends, business support services market major players, competitors' revenues, market positioning, and market growth across geographies. The business support services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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