Services Market Report 2026

The services market size has grown strongly in recent years. It will grow from $17.37 trillion in 2025 to $18.77 trillion in 2026 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to rapid economic expansion in service economies, increasing business dependency on service providers, growth of online service platforms, rising urbanization and lifestyle service demand, expansion of enterprise support services.

The services market size is expected to see strong growth in the next few years. It will grow to $25.96 trillion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to growing digital customer ecosystems, increasing automation in service delivery, rising enterprise reliance on managed service models, expansion of cross border service trade, increasing specialization of professional service offerings. Major trends in the forecast period include growing expansion of digital service delivery, rising focus on customer experience enhancement, increasing adoption of subscription based service models, growing integration of specialized professional services, rising outsourcing and third party service engagement.

The increasing demand for real estate services is expected to propel the growth of the services market going forward. Real estate refers to immovable property that includes land, buildings, and natural resources associated with the land, such as minerals, water, and vegetation. Commercial real estate, in particular, relies on comprehensive facilities management services to maintain efficient and uninterrupted operations. For instance, in June 2025, according to the U.S. Census Bureau, a US-based government agency, the seasonally adjusted estimate of new houses for sale at the end of May 2025 stood at 507,000, representing a 1.4% increase (±1.3%) from the April 2025 estimate of 500,000 and an 8.1% rise (±5.5%) compared to the May 2024 estimate of 469,000. Therefore, the growing demand for real estate services is driving the growth of the services market.

Major companies operating in the services market are launching innovative solutions, such as telecom services, to improve customer experience, optimize operational efficiency, and accelerate digital transformation. Telecom services encompass a wide range of communication offerings that enable the transmission of voice, data, and video across various networks. For instance, in April 2024, Faroese Telecom, a Denmark-based telecommunications company, deployed a comprehensive 5G network across all 18 islands of the Faroe Islands, achieving complete population coverage in partnership with Ericsson. This initiative delivers high-speed, low-latency internet access, improving mobile broadband and call quality through technologies such as fixed wireless access and voice over LTE (VoLTE). Despite geographical challenges, including coverage across bridges, ferries, and fishing vessels, the network rollout is expected to significantly support local industries such as fisheries and tourism by enabling advanced technologies like IoT and AI to enhance operational efficiency and sustainability.

In August 2023, International Business Machines, a US-based technology company, acquired Apptio Inc. for an undisclosed amount. Through this acquisition, IBM sought to enhance its IT automation and hybrid cloud capabilities by offering clients an integrated platform to manage, optimize, and automate enterprise IT spending and operations. Apptio Inc. is a US-based technology company specializing in the provision of enterprise-focused services.

Major companies operating in the services market report are Deloitte Touche Tohmatsu Limited, Accenture plc, The International Business Machines Corporation, Price Waterhouse Coopers, Ernst & Young Global Limited, KPMG International Limited, Randstad Holding NV, CBRE Group Inc., Enterprise Holdings Inc., Adecco Group, Capgemini SE, Sodexo Group, Recruit Holdings Co. Ltd., Jones Lang LaSalle Incorporated, Man powerGroup Inc., Waste Management Inc., Cognizant, TUI Group, Infosys Limited, Aramark Corporation, Wipro Limited, ISS A/S, McKinsey & Company, Robert Half International Inc., Gartner Inc., Bain & Company, BCD Travel, Travel Leaders Group, Thomson Reuters Corporation, Dun & Bradstreet Holdings Inc., Equifax Inc., Experian plc, IHS Markit Ltd., Moody's Corporation, S&P Global Inc.

Asia-Pacific was the largest region in the services market in 2025. North America was the second-largest region in the services market. The regions covered in the services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the services market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The services market consists of revenue earned by entities by providing services to equipment and machinery repairing, promoting or administering religious activities, grant making, advocacy, and providing dry-cleaning and laundry services, personal care services, death care services, pet care services, photofinishing services, and temporary parking services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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