The commercial services market comprises establishments that perform support activities for the day-to-day operations of other businesses or organizations. Establishments in this market specialize in one or more of these support activities which in other cases are often undertaken in-house. Some of these support activities are offered to households.
The global commercial services market has been growing in the past years with a CAGR of almost 6%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global commercial services market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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, 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 or planning to adapt 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, and KLM airlines.
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Companies included in the report are Adecco Group, Randstad Holding, Manpower Inc. And Waste Management Inc., ISS A/S and Sodexo Merchant Network.
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