2024 Office Administrative Services Market Report : Market Size, Growth Drivers, And Key Trends | Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Ernst & Young Global Limited, KPMG International Cooperative

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The Business Research Company offers in-depth market insights through Office Administrative Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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 growth in the historic period can be attributed to business growth, cost efficiency, focus on core activities, globalization and outsourcing trends, 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 growth in the forecast period can be attributed to growing evolving workforce dynamics, specialized administrative support, flexibility and scalability, focus on core competencies, adoption of hybrid work models. Major trends in the forecast period include enhanced focus on employee wellbeing services, transition to paperless office environments, rise in outsourced administrative services, emphasis on diversity, equity, and inclusion initiatives, implementation of smart office technologies.

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Market Segmentation:
The office administrative services market covered in this report is segmented -

1) By Type: Administrative Management Services, Business Management Services, Hospitality Management Services, Health Management Services, and Other Types - Office Administrative Services

Major Driver - Accelerated Growth In The Office Administrative Services Market Amidst Rapid Globalisation
The growth in the office administrative services market is due to the rapid globalization and adoption of advanced technologies. Globalization refers to the increasing interconnection of economies, cultures, and communities around the world as a result of technology, cross-border trade in goods and services, and flows of capital, people, and information. Companies must deal with a growing range of cultural backgrounds as globalisation spreads. and thereby increases the office administration activities as well. For instance, in June 2021, according to an article shared by the World Bank, a US-based international financial institution, global growth is anticipated to go up to 5.6% this year, thanks in large part to the strength of advanced economies like China and the United States. In addition, global growth estimates for 2021 have been revised upward for practically all regions. In 2021, it is anticipated that China and the United States will each contribute roughly one-fourth of global growth. The U.S. economy has received significant budgetary support, vaccination is anticipated to become widely used by mid-2021, and this year's growth is anticipated to be 6.8%, the quickest rate since 1984. Therefore, rapid globalization is driving the growth of the office administrative services market.

Competitive Landscape:
Major companies operating in the office administrative services market report are 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

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Top Trend - Tech-Driven Transformation Office Administrative Services Embrace Innovation With Emerging Technologies
Emerging technologies such as robotic process automation (RPA), cloud computing, and software as a service are offering office administrative applications. These applications offer solutions for billing, sales, and other functions in an organization. For instance, in January 2023, The Institute of Chartered Accountants of India, an India-based professional accounting organization administered by the Ministry of Corporate Affairs, launched free task management or office management software for its members in practice. The software is designed to make the task, document, account, customer, communication, and personnel management easier. The software is accessible to chartered accountants when they register on the ICAI-hosted website cacloud.ca.in. The program intends to provide 15+ fully integrated functions, including workflow automation, web and mobile platforms, bank-grade security, complete onboarding and training, and so on.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Office Administrative Services Market Characteristics
3. Office Administrative Services Market Trends And Strategies
4. Office Administrative Services Market - Macro Economic Scenario
5. Office Administrative Services Market Size And Growth
…..
27. Office Administrative Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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