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Professional Services Global Market Briefing 2017

  • December 2016
  • -
  • TBRC Business Research
  • -
  • 36 pages

Summary

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Professional service is a broad market which comprises varied occupations which provide support to businesses of all sizes and in all industries. The business entities which are engaged in providing professional services are generally referred to as professional service organizations (PSOs) or professional service firms (PSFs).


The largest geographic markets by consumption in the professional services sector are the Americas, Asia and Europe. The Americas was the largest region in the professional services market in 2016, accounting for 40% market share. This can be attributed to high demand for services such as accounting, legal, advertising, photographic services and other professional services from companies across all industries. Europe was the second largest region accounting for almost 30% market share.

Professional services firms are becoming more sophisticated in their use of social media for finding and engaging clients online, marketing their services and monitoring their competitors. An enhanced social media presence helps professional services firms to improve awareness of the firm, increase client satisfaction and deepen client relationships.

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