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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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SOURCE Technavio

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Technology

FULTON FINANCIAL CORPORATION APPOINTS DAVID S. SCHULZ TO BOARD OF DIRECTORS

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July 21, 2026

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LANCASTER, Pa., July 21, 2026 /PRNewswire/ — Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the appointment of David S. Schulz as a member of its board of directors (the “Board”) for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders.

“We’re excited to welcome Dave to Fulton’s board of directors,” said Curt Myers, Fulton Chairman, CEO, and President. “Dave brings extensive financial leadership experience gained through more than a decade of service with publicly traded companies. His expertise in finance, strategic planning, risk, and mergers and acquisitions will provide valuable perspective as we continue to execute our growth strategy and create long-term value for our shareholders, customers and communities.”

With the addition of Schulz, Fulton’s Board will have 11 members, and he will serve on the Audit and Risk committees. Schulz has also been appointed to the board of directors of Fulton’s banking subsidiary, Fulton Bank, N.A.

Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. 

Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division.

Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.

In 2025, Schulz joined the board of Sterling Infrastructure, Inc., and he was appointed as chair of the audit committee in 2026. He also serves on the company’s compensation and talent development committee.

ABOUT FULTON FINANCIAL CORPORATION

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 215 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. Additional information on Fulton can be found at https://investor.fultonbank.com.

Contact: Steve Trapnell
717-291-2739

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SOURCE Fulton Financial Corporation

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Octavio Marquez Elected to MSA Safety Board of Directors

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58 minutes ago

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July 21, 2026

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PITTSBURGH, July 21, 2026 /PRNewswire/ — The Board of Directors of MSA Safety Inc. (NYSE: MSA), a global leader in the development of advanced industrial safety technology products and solutions, today announced that Octavio Marquez, president and chief executive officer of Diebold Nixdorf, has been elected to the company’s Board of Directors. His election was part of the MSA Board’s regular succession plans.

“We are very pleased to have the opportunity to add Octavio to the MSA Board,” said Robert A. Bruggeworth, MSA chairman. “He brings a broad range of executive leadership experience, including strategy development, capital allocation, business transformation and serving international markets, which will serve MSA well.”

“Octavio’s perspectives will be an asset to me and our entire Executive Leadership Team,” said Steven C. Blanco, MSA president and CEO. “It is a pleasure to welcome Octavio to MSA, and I look forward to working with him.”

Mr. Marquez joined Diebold Nixdorf in 2014 and has held senior leadership roles across the company’s Global Banking organization and its Americas region, including as executive vice president of Global Banking and senior vice president of the Americas. Before joining Diebold Nixdorf, Mr. Marquez held leadership positions at Dell EMC, Hewlett Packard Enterprise, IBM and NCR.

Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of customers every day. Headquartered in North Canton, Ohio, Diebold Nixdorf employs approximately 20,000 employees globally, supporting more than 100 countries.

Mr. Marquez holds a degree in business and finance from Universidad Iberoamericana and has completed executive education programs at MIT Sloan, The Wharton School and The University of Texas at Austin.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

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SOURCE MSA Safety

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BlueFolder Field Service Software Launches New AI-Powered Features to Transform How Teams Work

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58 minutes ago

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July 21, 2026

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New AI capabilities instantly surface customer insights and transform technician notes into actionable summaries to help field service teams work faster, stay aligned, and deliver better service

AUBURN, Ala., July 21, 2026 /PRNewswire/ — BlueFolder field service software recently announced the launch of two powerful new AI features: AI-Powered Customer Summaries and AI-Powered Field Notes Summarization. Together, these capabilities are designed to eliminate the time-consuming, manual work of reviewing fragmented customer records and lengthy technician notes—giving field service teams instant clarity to respond faster, make smarter decisions, and deliver exceptional service.

BlueFolder expands it’s field service and work order management suite with two exciting new AI field service features.

Built directly into the BlueFolder platform, both features leverage artificial intelligence to automatically compile and summarize complex, unstructured data into clear, easy-to-read overviews. The result: technicians, dispatchers, and managers always have the context they need, right when they need it.

AI-Powered Customer Summaries

As field service organizations grow, customer information becomes increasingly scattered across emails, service request logs, and communication histories. BlueFolder’s AI Customer Summary feature addresses this challenge head-on by consolidating those interactions into a single, actionable snapshot.

Instead of manually digging through multiple records before a service call or customer interaction, teams can now access a real-time summary highlighting key concerns, past service activity, and recent updates. The feature goes beyond basic summarization and surfaces critical business insights such as equipment past due for maintenance, approaching warranty expirations, and proactive revenue opportunities, empowering teams to recommend follow-ups or upgrades directly from the customer record.

Built-in traceability links each summary back to its original source communications, so users can validate insights with confidence, ensuring both speed and accuracy in every customer interaction.

AI-Powered Field Notes Summarization

In many service organizations, technicians log updates across multiple visits, often resulting in long, fragmented notes that are difficult to review at a glance. BlueFolder’s AI Field Notes Summarization feature solves this by automatically condensing multiple technician entries into a structured summary that highlights key milestones, actions taken, and next steps.

Rather than scrolling through pages of updates, managers and dispatchers can immediately understand job status and determine what needs to happen next, improving alignment between field and office teams, accelerating decision-making, and reducing miscommunication. The feature is especially valuable for complex or multi-day jobs, where clear continuity and smooth technician handoffs are critical to delivering consistent service. It’s another featuring making BlueFolder’s work order management software capabilities stronger every day.

“History is one of the most powerful tools a service team has — the problem is it’s usually buried. BlueFolder’s new AI features fix that. Your team walks into every interaction already knowing the customer, knowing the equipment, and exactly where things stand. That changes the entire experience,” says John Shaw, VP, Technology, Service Operations.

AI as a Core Part of the BlueFolder Platform

The launch of these two features reflects BlueFolder’s broader commitment to embedding AI throughout its field service management software as an integrated layer of intelligence that makes every workflow smarter. Rather than requiring teams to change how they work, BlueFolder’s AI capabilities are designed to surface the right information at the right moment automatically, within the tools that technicians, dispatchers, and managers already use every day.

“AI is transforming what’s possible in field service, and BlueFolder is answering that call. These features are the result of deep platform expertise and a clear vision for where the industry is headed. We’re embedding intelligence throughout the platform because we know it makes our customers more competitive, more efficient, and better positioned to grow,” says Stephen Myslicki, Group President of Field Services.

Availability

Both AI-Powered Customer Summaries and AI-Powered Field Notes Summarization are available now to BlueFolder customers as optional, easy-to-enable features within the platform. They are part of BlueFolder’s growing suite of AI-driven capabilities designed to help field service organizations operate more efficiently and scale with confidence.

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SOURCE BlueFolder

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