The global combined Annual Contract Value (ACV) for Business Services, which is a measure of outsourced contracts, reached a record $19.1 billion, in the second quarter of 2021, which was up by 32 % over 2020. The cloud-based as-a-service market reached a record $11.2 billion while Managed services reached $7.9 billion, in the second quarter of 2021. Recruitment agencies are increasingly relying on artificial intelligence to simplify recruitment process as it can automate the process for effective screening and assessment of candidates. Consequently, the employment services are expected to reach $1,677.8 billion in 2025, growing at a CAGR of 9% as per research published by ResearchAndMarkets.com.
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Posted by Brad Purifoy.
Read the Entire Summer 2021 Business Services Report Here
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