This briefing examines how the business services industry is performing globally and in the largest countries in terms of business services output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provides benchmarks against other countries in the relevant region.
This report comes in PPT.
Accelerating digitalisation is expected to have a significant impact on the business services industry, increasing efficiency and improving quality. To provide appropriate business solutions to customers, as well as to stay ahead of competitors, extensive data analysis will be a must. The use of artificial intelligence, including machine learning, will allow for simpler, faster processes, automation of back-end tasks and real-time data interpretation.
With the help of AI, such as machine learning, as well as the use of big data, it will be easier to create more personalised and more relevant offers. Determining trends in data and offering better tailored services in accordance with individual needs will improve the customer experience and increase customer loyalty. Simultaneously, personalisation will lead to fewer follow up inquiries, further improving process efficiency.
Low barriers of entry into the industry and rising competition levels will require companies to switch towards a value-based model, or in other words, offering more for the same price. Similarly to personalised offers, customers of businesses with value-based models are expected to show higher loyalty and brand recognition, positively impacting revenues.
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