The office administrative services market size is expected to see strong growth in the next few years. It will grow to $387.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period is linked to the evolving dynamics of the workforce, increased reliance on specialized administrative support, flexibility and scalability, emphasis on core competencies, and the adoption of hybrid work models. Key trends expected during this period encompass an intensified focus on employee well-being services, a shift towards paperless office environments, an upsurge in outsourced administrative services, a heightened emphasis on diversity, equity, and inclusion initiatives, and the implementation of smart office technologies.
The growth observed in the office administrative services market is a consequence of the swift globalization and the adoption of advanced technologies. Globalization, characterized by increasing interconnectedness of economies, cultures, and communities worldwide through technology, cross-border trade, and the flow of capital, people, and information, necessitates companies to manage a diverse range of cultural backgrounds. This expanding global landscape contributes to the rise in office administration activities. For example, a World Bank article in June 2021 highlighted that global growth is expected to reach 5.6% that year, primarily driven by the strength of advanced economies such as China and the United States. With global growth estimates revised upward for various regions, it is anticipated that China and the United States will each contribute about one-fourth of the global growth in 2021. The U.S. economy, supported by significant budgetary measures, widespread vaccination, and an expected growth rate of 6.8%, is poised for its fastest rate since 1984. Hence, the rapid pace of globalization is a key driver of the office administrative services market's growth.
The widespread adoption of remote work is anticipated to fuel the expansion of the office administrative services market in the foreseeable future. Remote work, also known as telecommuting or telework, involves employees executing their job responsibilities from a location other than the traditional office environment. The utilization of office administrative services in remote employment offers increased flexibility, cost-effectiveness, and access to a broader talent pool. According to the United States Bureau of Labor Statistics in April 2023, 27.5% of employees in private firms teleworked for at least part of the time in 2022. This widespread embrace of remote work is a significant driver for the office administrative services market.
The emergence of technologies such as robotic process automation (RPA), cloud computing, and software as a service is providing new avenues for office administrative applications. These applications offer solutions for various organizational functions, including billing and sales. For instance, in January 2023, The Institute of Chartered Accountants of India introduced free task management or office management software for its members, designed to simplify tasks, document handling, account management, customer relations, communication, and personnel management. The software offers 15+ integrated functions, including workflow automation, web and mobile platforms, bank-grade security, and comprehensive onboarding and training.
Leading companies in the office administrative services market are focusing on innovative products such as comprehensive virtual event platforms to deliver engaging and interactive virtual experiences. A comprehensive virtual event platform is a digital system that provides diverse capabilities for hosting, managing, and enhancing virtual events, aiming to replicate the real-world event experience in a virtual setting. For instance, in May 2021, Zoom Video Communications, Inc. introduced Zoom Events, a one-stop platform that integrates the scalability and reliability of Zoom Meetings, Chat, and Video Webinars. This solution enables event organizers to create ticketed live meetings for both internal and external audiences of any size, catering to a broad range of use cases, from large businesses organizing internal events to smaller entities and entrepreneurs leveraging OnZoom for events such as fitness classes, culinary presentations, and more.
Major companies operating in the office administrative services market report are Accenture PLC, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Ernst & Young Global Limited, KPMG International Cooperative, Randstad Holding NV, Tata Consultancy Services Limited, Adecco Group S.A., Sodexo SA, Cognizant, Infosys Limited, Automatic Data Processing Inc., Aon PLC, Robert Half International Inc., TriNet Group Inc., Genpact Limited, Conduent Incorporated, The Hackett Group Inc., BDO USA LLP, Mercer LLC, HCL Technologies Limited, NGA Human Resources Inc., International Business Machines Corporation, Epiq Systems Inc., Profitmaster Business Process Outsourcing Inc., The Segal Group Inc., The Adecco Group, ISP Group Inc., RK Advisors LLC, e-Celtic Solutions Inc., Paychex Inc., Ultimate Software Group Inc., Willis Towers Watson PLC, Wipro Limited, Xerox Corporation.
Asia-Pacific was the largest region in the office administrative services market in 2023. The regions covered in the office administrative services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the office administrative services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The office administrative services market includes revenues earned by entities by coordinating meetings, appointments and directing various administrative projects. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The primary categories of office administrative services include administrative management services, business management services, hospitality management services, health management services, and various other services.
The office administrative services market research report is one of a series of new reports that provides office administrative services market statistics, including office administrative services industry global market size, regional shares, competitors with an office administrative services market share, detailed office administrative services market segments, market trends and opportunities, and any further data you may need to thrive in the office administrative services industry. This office administrative services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Office Administrative Services Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on office administrative services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for office administrative services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Administrative Management Services; Business Management Services; Hospitality Management Services; Health Management Services; and Other Types - Office Administrative Services
Key Companies Mentioned: Accenture plc; Deloitte Touche Tohmatsu Limited; PricewaterhouseCoopers LLP; Ernst & Young Global Limited; KPMG International Cooperative
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accenture plc
- Deloitte Touche Tohmatsu Limited
- PricewaterhouseCoopers LLP
- Ernst & Young Global Limited
- KPMG International Cooperative
- Randstad Holding NV
- Tata Consultancy Services Limited
- Adecco Group S.A.
- Sodexo SA
- Cognizant
- Infosys Limited
- Automatic Data Processing Inc.
- Aon plc
- Robert Half International Inc.
- TriNet Group Inc.
- Genpact Limited
- Conduent Incorporated
- The Hackett Group Inc.
- BDO USA LLP
- Mercer LLC
- HCL Technologies Limited
- NGA Human Resources Inc.
- International Business Machines Corporation
- Epiq Systems Inc.
- Profitmaster Business Process Outsourcing Inc.
- The Segal Group Inc.
- The Adecco Group
- ISP Group Inc.
- RK Advisors LLC
- e-Celtic Solutions Inc.
- Paychex Inc.
- Ultimate Software Group Inc.
- Willis Towers Watson plc
- Wipro Limited
- Xerox Corporation
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 250 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 265.72 Billion |
Forecasted Market Value ( USD | $ 387.56 Billion |
Compound Annual Growth Rate | 9.9% |
Regions Covered | Global |