New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Business Support Services Global Market Report 2022" - https://www.reportlinker.com/p06229751/?utm_source=GNW
The global business support services market is expected to grow from $561.32 billion in 2021 to $624.53 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $916.77 billion in 2026 at a CAGR of 10.1%.
The business support services market consists of sales of business support services and related goods by entities (organizations, sole traders and partnerships) that provide business support services such as document preparation, telephone call centers, telephone answering, telemarketing bureaus and other contact centers, and private mail centers.
The main types of business support services are document preparation services, telephone call centers, business service centers, collection agencies, credit bureaus and other business support services.Document preparation service providers offer a variety of services to individuals and corporations, including business and regulatory document preparation, word processing, proofreading, desktop posting, and formatting.
The different organization sizes include large enterprise, small and medium enterprise and is available in various modes such as online, offline.
Artificial intelligence is widely being used by business organizations in customer support activities as it considerably reduces operational costs.Artificial intelligence systems perform tasks that normally require human intelligence such as speech recognition, translation between languages, visual perception, and decision-making.
This technology enables handling of customer grievances and other interactions without human intervention, thereby increasing efficiency and reducing operational costs.It also helps manage support tickets in bulk, provides multi-language support and auto responding of bulk emails.
According to a study by Oracle, nearly 8 out of 10 businesses have already implemented artificial intelligence in customer support by 2020. Some of the companies using artificial intelligence in customer support include China Merchant Bank, Fiat Argentina, Toshiba France, KLM airlines.
Western Europe was the largest region in the business support services market in 2021.Asia Pacific was the second-largest region in the business support services market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the business support services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06229751/?utm_source=GNW
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