Business Support Services Market Increases Efficiency And Reduces Costs By Integrating AI

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Business Support Services Global market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company's Business Support Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, January 24, 2022 /EINPresswire.com / -- Global business support services market trends include artificial intelligence, which 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 which is contributing to the business support services market growth. 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.

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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.

The business support services global market revenue 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 in the market 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 business support services market forecast is expected to see $916.77 billion in 2026 at a CAGR of 10.1%.

Major players covered in the global business support services industry are Apple, Teleperformance SE, quifax inc, S&P Global Inc, Moodys Corporation, TransUnion, PRA Group, Inc, Intrum AB, WNS (Holdings) Limited and Transcom WorldWide AB.

TBRC's global business support services market report is segmented by type into document preparation services, telephone call centers, business service centers, collection agencies, credit bureaus, other business support services, by organization size into large enterprise, small and medium enterprise, by mode into online, offline.

Business Support Services Global Market Report 2022 – By Type (Document Preparation Services, Telephone Call Centers, Business Service Centers, Collection Agencies, Credit Bureaus), By Organization Size (Large Enterprise, Small and Medium Enterprise), By Mode (Online, Offline) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a business support services market overview, forecast business support services market size and business support services market growth for the whole market, business support services market segments, geographies, business support services market trends, business support services market drivers, business support services market restraints, leading competitors' revenues, profiles, and market shares.

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