A service can be defined as a
transaction between a buyer and a seller without the transfer of any physical
goods or commodities. It mainly involves the use of resources, experience,
skill, ingenuity, and intelligence. Main characteristics of a services include
intangibility, simultaneous production and consumption, and inseparability of
the services provider and consumer.
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The global services market
industry has shown a decent growth in the past years with a CAGR of
about 4.5%. The year 2017 recorded highest ever market value in this industry
as per TBRC’s inhouse consultants.
TBRC’s latest report show the historic and future trends in
the market for each year with sourced reasons to support the growth claims.
The report also shows the services
market to grow at a higher CAGR by 2021 as compared to 2017, along with
geographies best suited for investments with highest return rate.
Sample report:
Competition among services firms
and a lack of suitably trained employees will contribute to a shortage of labor
in the professional services industry in this period. According to the CBI
Service Sector Survey in 2015, a survey of 174 firms, many respondents from the
services industry reported that skills shortages are affecting their plans for
business expansion. This was mainly due to the lack of the right skills and
right work experience among candidates; thus skill shortages were one on the
major restraints on the services industry.
TBRC’s latest report will cover in
depth understanding and calculated impacts of each market factor
on a global as
well as regional level, to analyze the best investment strategy for this
market.
Companies included in the report are CBRE Group, Southern Baptist churches, Jones Lang LaSalle Inc, World
Food Programme and Unicef.
About The
Business Research Company.
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Business Research Company is a Business Intelligence Company which excels in
company, market and consumer research. It has offices in the UK, the US and
India and a network of trained
researchers in 15 countries globally.
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