Professional Services Industry Overview

Professional Services Industry Overview. Some professional services require holding professional degrees and licenses and they also require specific skills such as architects, accountants, engineers, doctors, lawyers and teachers. Other professional services involve providing specialist business support to businesses of all sizes and in all sectors;

Professional services firms in the united states generated nearly $2 trillion in combined revenue in 2018 (an 11 percent increase from 2017). According to the research report, “global cloud professional services market is expected to grow at a cagr of 19.8% and is anticipated to reach around usd 15936.96 million by 2026. The us and the european union are the largest markets for professional services, although firms are expanding in emerging economies such as india and china.

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Between 1990 and 2000 the sector grew rapidly, adding 83,300 jobs and growing by 80.0 percent compared with 28.8 percent for total employment. The authors advise professional services firms to look at their portfolio and services, to capitalise on fast growing tech segments. Architects, town planners, engineering consultants), business (eg. Recruitment consultants, human resource management consultants, market researchers, pr consultants, events.