Services Market By Restraints, Opportunities And Projected Developments 2020
The Business Research Company’s latest report Services Global Market Report 2020 covers Services market drivers, Services market trends, Services market segments, Services market growth rate, Services market major players, and Services market size. The report provides in-depth analysis of the impact of COVID-19 on the Services industry, along with revised market numbers due to the effects of the coronavirus.
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Services Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global services market is expected to grow from $11848.2 billion in 2019 to $11941.5 billion in 2020 at a compound annual growth rate (CAGR) of 0.8%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $14734.2 billion in 2023.
The global services market is segmented by type into civic services, real estate, leasing, commercial services, personal services, repair and maintenance. Subsegments covered are religious organizations, NGOs and charitable organizations, political organizations, unions and associations, real estate rental, real estate agency and brokerage, automotive equipment leasing, consumer goods and general rental centers, machinery leasing, lessors of nonfinancial intangible assets, office administrative services, facilities support services, employment services, business support services, travel arrangement and reservation services, waste management and remediation services, investigation and security services, services to buildings and dwellings, other support services, personal care services, death care services, dry-cleaning and laundry services, other personal services, private households, automotive repair and maintenance, commercial and industrial machinery and equipment repair and maintenance, electronic and precision equipment repair and maintenance, personal goods repair and maintenance.
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