There are two kinds of economic products (goods and services), two kinds of businesses (those that succeed and those that fail), and two kinds of customers (those that use Freedonia research and those that don’t). Freedonia, which has long been known for its coverage of goods, particularly industrial products, also maintains a rich catalog of research on the service sector.
Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to develop business plans and strategy.
The US services sector was worth about $18 trillion in 2021.
In advertising, media representatives remain the fastest growing segment, and are expected to overtake ad agencies to become the largest. Advances will be driven by consumers’ continued shift from linear TV to connected TV.
Employment services experienced a surge of revenue in 2021 as a tight labor market and rapidly reopening economy generated elevated levels of demand for temporary staffing services. Coming off this high base, firms are expected to record short-term declines as the economy returns to normal.
The recreation service market grew nearly 33% in 2022 as COVID-19 restrictions relaxed.