Office Administrative Services Global Market Report 2024

The office administrative services market size has grown rapidly in recent years. It will grow from $241.38 billion in 2023 to $265.72 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The expansion witnessed during the historical period can be ascribed to business development, cost efficiency, emphasis on core activities, globalization, and outsourcing trends, as well as regulatory compliance.

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.