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Professional Services Market to grow by USD 2.07 Trillion from 2024-2028, driven by the push for digitalizing business processes and AI’s role in reshaping the landscape – Technavio

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NEW YORK, Oct. 28, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Professional Services Market size is estimated to grow by USD 2.07 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.7% during the forecast period. Growing focus on digitalizing business processes is driving market growth, with a trend towards growing trend of using AI and ML in professional services industry. However, shortage of skilled professionals poses a challenge.Key market players include Accenture Plc, AECOM, Aon plc, Bain and Co. Inc., Boston Consulting Group Inc., Business Connexion Ltd., Charles Ghadban Accounting, Cleary Gottlieb Steen and Hamilton LLP, Deloitte Touche Tohmatsu Ltd., Dentsu Group Inc., Enviro Analysts and Engineers Pvt Ltd., Ernst and Young Global Ltd., FinExpertiza, Forvis Mazars, Oliver, Wyman & Company, Omnicom Group Inc., PricewaterhouseCoopers LLP, Publicis Groupe SA, Slalom Consulting LLC, and Tata Consultancy Services Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Professional Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.7%

Market growth 2024-2028

USD 2077.8 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.3

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key countries

US, China, Japan, India, and UK

Key companies profiled

Accenture Plc, AECOM, Aon plc, Bain and Co. Inc., Boston Consulting Group Inc., Business Connexion Ltd., Charles Ghadban Accounting, Cleary Gottlieb Steen and Hamilton LLP, Deloitte Touche Tohmatsu Ltd., Dentsu Group Inc., Enviro Analysts and Engineers Pvt Ltd., Ernst and Young Global Ltd., FinExpertiza, Forvis Mazars, Oliver, Wyman & Company, Omnicom Group Inc., PricewaterhouseCoopers LLP, Publicis Groupe SA, Slalom Consulting LLC, and Tata Consultancy Services Ltd.

Market Driver

The professional services industry is undergoing a major transformation through the integration of artificial intelligence (AI) and machine learning (ML). Firms like Ernst and Young Global Ltd. (EY) and PricewaterhouseCoopers LLP are leading this change by offering AI-enhanced services. EY’s AI solutions boost efficiency, accuracy, and productivity in areas such as auditing, tax consulting, and financial analysis. Similarly, PwC’s AI-powered offerings augment consultancy, accounting, and financial advisory services, enabling analysis of large datasets and identification of patterns for data-driven insights. In the legal sector, AI tools reduce document review and legal research time and cost. In financial services, ML algorithms detect fraud and predict market trends. Consulting benefits from AI analysis of large datasets and chatbots for client engagement. Innovation in professional services is fostered through predictive analytics and automation, leading to cost savings and increased efficiency. These trends fuel the growth of the global professional services market. 

The professional services market is experiencing significant trends in communication, digital transformation, and cybersecurity. Businesses are focusing on improving communication channels for enhanced collaboration and customer engagement. Digital transformation is a priority, with the adoption of cloud-based services like SaaS and cloud computing increasing. Cyber breaches and identity theft remain concerns, driving the need for data security measures and adherence to frameworks like NIST Cybersecurity. Project-oriented services and IT outsourcing (ITO) continue to be popular. AI, ML, IoT, and digital media are transforming business processes. Real-time data and automation are key benefits of cloud technology. Blockchain technology offers secure financial transactions. Cyberattacks and cybercrime necessitate strong security measures, incident response plans, and adoption of advanced technologies like AI and ML. Cloud-based accounting software streamlines financial transactions. 

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 Market Challenges

The professional services industry is experiencing a significant challenge: a shortage of skilled professionals. This issue is hindering firms’ ability to meet client demands, maintain service quality, and drive growth. The root cause is the rapid technological advancement, which has increased the demand for professionals with expertise in areas like artificial intelligence, machine learning, and data analytics. However, the supply of skilled professionals has not kept pace, resulting in a talent gap. For instance, the manufacturing sector lost about 1.4 million jobs during the pandemic but was already facing a potential labor crisis, with 2.1 million unfulfilled jobs by 2030 due to a lack of skilled labor. Similarly, healthcare projects a shortage of over 4 million workers by 2026 as more than 6.5 million professionals are expected to leave their positions. Competition from sectors like technology, finance, and healthcare for similar skill sets further complicates matters, driving up salaries and making it harder for professional services firms to attract and retain top talent. An aging workforce and demographic shifts, including the retirement of experienced professionals and the preference for flexible work arrangements, are also contributing to the scarcity of skilled workers. These factors are expected to negatively impact the growth of the professional services market.The Professional Services industry encompasses a wide range of services including consulting, legal, accounting, IT, design, research, promotional, scientific, technical, and more. Service providers offer advisory support, specialized technical services, and experience management (XM) solutions using platforms like Qualtrics. Challenges include managing business processes, cyber threats, incident response, financial data management, and remote working. Technology, such as generative AI, plays a crucial role in enhancing customer experience and streamlining operations. Large enterprises require online and offline services, hybrid solutions, and professional services software for invoice and expense management, resource allocation, and project management. Talent acquisition and resource management are key areas of focus. Automated billing and financial auditing ensure accurate and efficient service delivery. Environmental consulting and business strategies are essential for sustainable growth. Tax preparation services and translation services cater to specific needs. Technology continues to transform the industry, offering opportunities and challenges alike.

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Segment Overview 

This professional services market report extensively covers market segmentation by

Industry Application1.1 Financial services1.2 Technology1.3 Healthcare1.4 Manufacturing1.5 OthersDelivery Mode2.1 On-site services2.2 Remote services2.3 Hybrid modelsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Financial services- The Professional Services Market refers to businesses that provide expert advice, consulting, and specialized services to other organizations. These services can include finance, legal, human resources, technology, engineering, and marketing. Companies in this market help clients improve their operations, reduce costs, and navigate complex business challenges. The market is expected to grow due to increasing business complexity and the need for specialized expertise. Firms offer customized solutions to meet unique client needs, ensuring optimal business performance.

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Research Analysis

The professional services market is experiencing significant transformation as businesses digitize their operations using advanced technologies like Artificial Intelligence (AI), Cloud technology, and Blockchain. These technologies are revolutionizing various industries by automating business processes, enhancing customer experience, and providing specialized technical services. However, with the increased use of technology comes the risk of cyberattacks and cybercrime. Service providers are responding by offering incident response plans, security measures, and cloud-based accounting software as part of their offerings. Professional services include advisory support, consulting, legal, accounting, scientific, design, promotional, and research services. Large enterprises are increasingly relying on IT services and professional service firms for automation, business strategies, and remote working solutions. The integration of AI and technology is enabling service providers to offer more efficient and effective solutions to their clients.

Market Research Overview

The professional services market is undergoing a significant digital transformation, with businesses increasingly adopting cloud technology, artificial intelligence (AI), and blockchain technology to digitize their processes. This shift brings new opportunities for service providers, including IT, consulting, accounting, legal, and design firms, to offer specialized technical services, advisory support, and project-oriented solutions. However, this digital evolution also presents new challenges, such as cyberattacks and cybercrime. Service providers must implement security measures, including incident response plans and cloud-based accounting software, to protect financial transactions and sensitive data. AI and machine learning (ML) are driving innovation in areas like experience management (XM) and automation, enabling real-time data analysis and enhanced customer experience. Large enterprises are turning to SaaS solutions for remote working and business strategies, while smaller firms are exploring hybrid services that combine online and offline offerings. Professional services firms must also address cyber threats, such as cloud-based breaches and identity theft, by adhering to frameworks like the NIST Cybersecurity Framework and investing in data security. The future of the professional services industry will be shaped by digital transformation, automation, and the ability to adapt to an ever-evolving technological landscape.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Industry ApplicationFinancial ServicesTechnologyHealthcareManufacturingOthersDelivery ModeOn-site ServicesRemote ServicesHybrid ModelsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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HelloNation Article Highlights Sterile Compounding and Medication Safety With Insights From Compounding Pharmacist Expert Laura Temple

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The article explains how sterile compounded medications are prepared to reduce the risk of contamination and support safe, customized treatments.

AZLE, Texas, July 21, 2026 /PRNewswire/ — What does sterile compounding mean for medication safety? HelloNation has published an article explaining how sterile compounding helps pharmacies prepare highly specialized medications while adhering to strict contamination-prevention procedures.

The article features insights from Laura Temple, Compounding Pharmacist Expert and Owner of Laura’s Pharmacy in Azle, Texas. It explains that sterile compounding is a specialized process for preparing medications in carefully controlled environments designed to reduce the risk of contamination. Sterile compounded medications are often used for injections, eye drops, IV medications, and other therapies that require the highest levels of cleanliness and precision.

The HelloNation article explains that sterile compounded medications differ from commercially manufactured drugs because they are prepared individually for a patient’s unique medical needs. Physicians may prescribe compounded prescriptions when a patient requires a customized dosage, a combination medication, or a treatment not commercially available. Because these medications often bypass the body’s natural defenses, medication safety depends on strict preparation standards throughout the compounding process.

The article describes how pharmacies that provide sterile compounding rely on cleanroom environments equipped with filtered-air systems, specialized equipment, and contamination-prevention protocols. Pharmacists and technicians follow detailed gowning, sterilization, and handwashing procedures before handling medication ingredients. These measures are designed to support medication safety by limiting exposure to bacteria, particles, and other contaminants.

According to the article, environmental monitoring also plays a critical role in sterile compounding. Temperature control, air quality testing, and routine equipment inspections help maintain consistent preparation standards. The article notes that sterile compounded medications may undergo additional quality assurance checks before being dispensed to patients. These procedures help support both treatment effectiveness and patient safety.

The HelloNation article also explains that pharmacies performing sterile compounding are expected to follow USP guidelines established for sterile preparation. These USP guidelines outline requirements for cleanroom pharmacy operations, environmental testing, employee training, and quality assurance practices. The article emphasizes that maintaining compliance with USP guidelines helps reinforce contamination prevention and consistent preparation standards for compounded prescriptions.

Patients seeking sterile compounded medications may also look for pharmacies that participate in accreditation programs or are overseen by state boards. The article explains that these programs review safety procedures, documentation practices, and facility standards to help maintain medication safety. Regular environmental monitoring and staff competency evaluations are also identified as important safeguards in sterile compounding operations.

The article further explains that communication between pharmacists, healthcare providers, and patients remains an important part of safe compounded prescriptions. Compounding pharmacists review prescriptions carefully, confirm dosing instructions, and evaluate ingredient compatibility before preparation begins. This collaborative approach supports medication safety by reducing the risk of errors and ensuring treatments meet individual patient needs.

The article concludes that sterile compounding continues to play an important role in healthcare, particularly for patients requiring customized therapies that are unavailable through traditional manufacturing channels. Whether preparing IV medications, injectable therapies, or other sterile compounded medications, pharmacies rely on contamination prevention procedures and strict preparation standards to support patient care. The article notes that understanding how sterile compounding works can help patients feel more informed about the safety measures involved in preparing specialized medications.

What Sterile Compounding Means for Medication Safety features insights from Laura Temple, a compounding pharmacist expert at Laura’s Pharmacy in Azle, Texas, on HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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SOURCE HelloNation

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CIOs Forced to Rethink Manual Compliance Processes as Regulatory Complexity Rises, Says Info-Tech Research Group

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Regulatory demands are increasing in volume, complexity, and speed, leaving many organizations reliant on fragmented, manual approaches that slow response times and increase risk. New insights from Info-Tech Research Group show that organizations need to adopt more structured and scalable approaches to keep pace with regulatory change. The firm’s recently published blueprint, Build a Regulatory IT Response Engine, provides frameworks, tools, and step-by-step guidance to help organizations translate regulatory requirements into actionable IT controls and prioritized initiatives.

ARLINGTON, Va., July 21, 2026 /PRNewswire/ — Growing regulatory pressure across jurisdictions is forcing organizations to rethink how they interpret, prioritize, and execute compliance requirements. Many IT teams continue to operate with inconsistent processes and limited coordination, resulting in delayed initiatives and increased exposure to financial and reputational risk. Info-Tech’s blueprint, Build a Regulatory IT Response Engine, introduces a coordinated and repeatable approach to help IT leaders operationalize compliance and improve execution outcomes.

Info-Tech’s findings indicate that while organizations recognize the need for faster and more consistent regulatory response, they continue to face barriers such as fragmented interpretation of requirements, weak prioritization, and limited scalability. AI-enabled tools can help streamline analysis and accelerate response planning, but without a coordinated approach grounded in governance and human oversight, those benefits are difficult to realize.

“Regulatory response is becoming too complex to manage through disconnected, manual processes,” says Ahmad Jowhar, senior research analyst at Info-Tech Research Group. “IT leaders need a repeatable way to interpret requirements, prioritize action, and use AI to accelerate planning without losing the governance and oversight needed to execute effectively.”

Key Challenges IT Leaders Face in Regulatory Response

Despite ongoing investments in compliance, organizations continue to face systemic challenges that hinder effective execution. Info-Tech’s blueprint highlights several areas where IT and compliance leaders struggle most:

Fragmented and manual processes that slow regulatory interpretation and response.Inconsistent application of regulatory requirements across teams and jurisdictions.Poor prioritization of IT initiatives, leading to missed deadlines and duplicated effort.Limited scalability to manage increasing regulatory volume and complexity.Misalignment between compliance activities and broader business priorities.

Info-Tech’s Framework for Building a Regulatory IT Response Engine

To address these challenges, Info-Tech recommends a structured, AI-enabled approach that improves consistency, speed, and scalability. The firm’s Build a Regulatory IT Response Engine blueprint outlines the following key priorities for IT leaders:

Define the regulatory landscape: Establish organizational context, governance structures, and a centralized inventory of applicable regulations.Translate requirements into IT controls: Use AI-enabled analysis and structured assessments to convert regulatory obligations into actionable controls.Prioritize IT initiatives: Align initiatives based on cost, effort, impact, and regulatory timelines to reduce execution risk.Build and communicate a roadmap: Develop a clear, resource-aligned roadmap to guide execution and stakeholder alignment.Establish a repeatable process: Continuously monitor, adapt, and refine regulatory response capabilities to maintain compliance over time.

Organizations that adopt this structured approach can move from reactive compliance efforts to a more proactive and scalable model that shortens response timelines, reduces manual effort, and strengthens execution.

The firm’s Build a Regulatory IT Response Engine blueprint includes practical tools such as a Regulation Inventory Tool, a Regulatory Response IT Action Plan Tool, a Communication Deck Template, and a Compliance Program Framework. By applying these resources, IT leaders can standardize regulatory responses, improve prioritization, and help ensure compliance initiatives are executed on time and in alignment with business priorities.

For exclusive and timely commentary from Info-Tech’s experts, including Ahmad Jowhar, and access to the complete Build a Regulatory IT Response Engine blueprint, please contact pr@infotech.com.

About Info-Tech Research Group

Info-Tech Research Group is the “get things done” partner for over 30,000 IT, HR, and marketing leaders worldwide. The fastest growing research and advisory firm, Info-Tech enables leaders to make well-informed decisions and transform their organizations through AI, strategic foresight, step-by-step methodologies, practical tools, industry-leading advisory, and training programs. For nearly 30 years, tens of thousands of private and public organizations have trusted Info-Tech to lead their most important initiatives through periods of change and deliver outcomes that truly matter.

To learn more about Info-Tech’s HR research and advisory services, visit McLean & Company, and for data-driven software buying insights and vendor evaluations, visit the firm’s SoftwareReviews platform.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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SOURCE Info-Tech Research Group

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Atomera to Announce Second Quarter 2026 Financial Results and Host Webinar on Tuesday, August 4, 2026

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LOS GATOS, Calif., July 21, 2026 /PRNewswire/ — Atomera Incorporated (NASDAQ: ATOM), a semiconductor materials and technology licensing company, announced today that it plans to release its second quarter 2026 financial results after the market closes on Tuesday, Aug. 4, 2026.

The company will host a live video Zoom webinar at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Tuesday, Aug. 4, 2026, to discuss the results. The live webinar can be accessed through Atomera’s investor relations website at https://ir.atomera.com. A replay of the webcast will be available for 12 months. To pre-register for the webinar, use the following link.

https://atomera.zoom.us/webinar/register/WN_OJFbTWe1SIyV69LLdDadCw

About Atomera

Atomera Incorporated is a semiconductor materials and technology licensing company focused on deploying its proprietary, silicon-proven technology into the semiconductor industry. Atomera has developed Mears Silicon Technology™ (MST®), which increases performance and power efficiency in semiconductor transistors. MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies already in the semiconductor industry roadmap.  More information can be found at www.atomera.com 

 

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SOURCE Atomera Incorporated

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