Technology
Professional Services Market to Grow by USD 2.08 Trillion from 2024-2028, Driven by Business Process Digitalization, Report with Market Evolution Powered by AI – Technavio
Published
2 years agoon
By
NEW YORK, Feb. 11, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global professional services market size is estimated to grow by USD 2.08 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..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Industry Application (Financial services, Technology, Healthcare, Manufacturing, and Others), Delivery Mode (On-site services, Remote services, and Hybrid models), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
Region Covered
North America, Europe, APAC, South America, and Middle East and Africa
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.
Key Market Trends Fueling Growth
The professional services market is experiencing significant trends as businesses digitize their operations. Cloud technology and SaaS solutions are popular choices for streamlining business processes and managing real-time data. AI and machine learning are revolutionizing financial transactions, customer feedback, and experience management through platforms like Qualtrics. However, cyber threats such as cyberattacks and cybercrime pose risks to financial data management. Service providers offer advisory support, specialized technical services, and consulting in areas like environmental consulting, management consulting, tax preparation, financial auditing, translation services, and more. Digital transformation includes automation, remote working, and business strategies. Technology trends include AI, IoT, and CDAP for enhanced customer experience and resource management. Cybersecurity measures like incident response plans and the NIST Cybersecurity Framework are essential to mitigate risks. Professional services software includes invoice management, expense management, resource allocation, project management, and automated billing. Communication and digital adoption programs are crucial for successful implementation of these trends.
The professional services industry is undergoing a major shift with the integration of artificial intelligence (AI) and machine learning (ML). This transformation is bringing about new possibilities and enhancements in various sectors of the industry. For instance, Ernst and Young Global Ltd. (EY), a leading professional services firm, employs AI to bolster its business services. EY’s AI in professional services is designed to boost efficiency, precision, and productivity in areas such as auditing, tax consulting, and financial analysis. EY has engineered AI-driven tools to cater to its clients and internal teams, thereby elevating the standard of services. Likewise, PricewaterhouseCoopers LLP, another prominent professional services firm, utilizes AI to amplify its offerings.
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Market Challenges
The professional services market is undergoing significant transformation as businesses digitize their processes using technologies like AI, cloud, and blockchain. However, this digital shift brings challenges such as cyberattacks and cybercrime, necessitating security measures and incident response plans. Cloud-based accounting software and SaaS solutions are popular choices for financial transactions, offering real-time data access and automation. Experience management platforms like Qualtrics help enhance customer experience through AI-driven customer feedback analysis. Professional services include advisory support, specialized technical services, design services, research services, promotional services, accounting services, scientific services, and more. Service providers offer online and offline services, hybrid services, and business strategies. Cyber threats, including cyber breaches and identity theft, require adherence to frameworks like NIST Cybersecurity Framework. Digital transformation brings opportunities for project-oriented services, ITO, and digital adoption programs. Technology trends like AI, ML, IoT, and CDAP are transforming industries like legal services, consulting services, and IT services. Talent acquisition and resource management are crucial for professional service firms navigating remote working and digital transformation.The professional services industry faces a pressing issue: a shortage of proficient specialists. This deficiency hinders firms from fulfilling client requests, preserving service excellence, and fostering expansion. A major cause of this scarcity is the swift technological progression. Advanced technologies like artificial intelligence, machine learning, and data analytics are increasingly adopted in the industry. Yet, the availability of adequately skilled professionals in these domains has not matched the demand, resulting in a talent void that is hard to bridge. For example, in the manufacturing sector, approximately 1 million positions for data analysts and engineers are projected to remain unfilled by 2025.
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Segment Overview
This professional services market report extensively covers market segmentation by
Industry ApplicationFinancial ServicesTechnologyHealthcareManufacturingOthersDelivery ModeOn-site ServicesRemote ServicesHybrid ModelsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa
1.1 Financial services- The financial services segment of the professional services market is experiencing significant growth due to regulatory changes, technological advancements, and shifting customer expectations. Financial institutions require professional services to navigate complexities in regulatory compliance, risk management, cybersecurity, digital transformation, and implementation of technologies like artificial intelligence, blockchain, and big data analytics. The market is marked by a variety of players, including multinational firms, boutique consultancies, and tech-driven startups, all vying to offer innovative solutions. Mergers and acquisitions are common as financial institutions expand capabilities and market presence, necessitating professional services for due diligence, integration, and strategic planning. Customer-centricity and personalized financial services are driving demand for professional guidance on customer engagement strategies and service delivery. The outlook for the financial services professional services market remains positive, with continued growth expected as financial systems adapt to regulatory requirements, technological advancements, and evolving customer needs.
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Research Analysis
The professional services market is experiencing a significant shift as businesses digitize their operations. Artificial intelligence (AI) and cloud technology are driving this transformation, enabling automation, enhanced customer experience, and remote working. However, this digital evolution brings new challenges, such as cyberattacks and cybercrime. Service providers are responding with advanced security measures, incident response plans, and cloud-based accounting software. SaaS solutions are becoming increasingly popular, offering specialized technical services, design services, research services, promotional services, consulting services, legal services, accounting services, scientific services, and more. Professional service firms are leveraging technology to provide advisory support, IT services, and business strategies. Blockchain technology is also gaining traction, offering secure and transparent transactions. Amidst these changes, large enterprises continue to seek expert assistance to navigate this complex landscape.
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 opportunities for enhanced customer experience, real-time data analysis, and automation of financial transactions. However, it also presents new challenges, such as cyberattacks and cybercrime, which require security measures and incident response plans. Professional services firms offer advisory support, specialized technical services, design services, research services, promotional services, accounting services, scientific services, and more. The industry includes large enterprises, online services, offline services, hybrid services, and service providers. Digital transformation is driving the adoption of cloud-based accounting software, SaaS, and automation tools for invoice management, expense management, resource allocation, project management, and automated billing. Real-time data analysis is essential for effective financial data management and experience management (XM) platforms like Qualtrics. AI and machine learning (ML) are revolutionizing the industry, with applications in legal services, consulting services, and IT services. Generative AI and customer feedback platforms enable enhanced customer experience. However, cyber threats such as cloud-based services breaches, identity theft, and cyber breaches require stringent data security measures, adherence to frameworks like NIST Cybersecurity Framework, and project-oriented services like Information Technology Outsourcing (ITO). Professional services firms must adapt to remote working and business strategies, leveraging technology, talent acquisition, and resource management to stay competitive. The use of digital media and CDAP (Digital Adoption Program) can facilitate digital transformation and improve communication. IoT and digital transformation initiatives are also transforming industries like environmental consulting, management consulting, tax preparation services, financial auditing, translation services, and more.
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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TransPerfect Legal Recognizes Its 2026 Pro Bono Partners
Published
28 minutes agoon
October 26, 2026By
Key Takeaways
Translation and interpretation services for partner firm Fenwick and legal aid organizations.Helps immigrants, asylum seekers, and other vulnerable populations access the US legal system.Language support remains critical to ensuring equal access to justice.
NEW YORK, Oct. 26, 2026
/PRNewswire/ — TransPerfect Legal, the global leader in legal technology, AI, and advisory services, today announced that in honor of the 2026 National Celebration of Pro Bono, it is recognizing the legal aid organizations and partner firms it has supported this year with translation and interpretation services. These partnerships extend legal access to immigrants, asylum seekers, and other vulnerable populations who depend on accurate language support to navigate the US legal system.
The National Celebration of Pro Bono, sponsored by the American Bar Association October 25–31, brings attention to the importance of pro bono legal services and honors the lawyers and organizations working to expand access to justice.
This year, TransPerfect provided translation and interpretation services at reduced rates to Fenwick in support of the following pro bono efforts:
Fenwick — Immigration clinics and mattersCommunity Legal Services in East Palo Alto (CLSEPA) — U Visa Project with attorneys (full-scope work); passport and asylum clinicsCo-Counsel NYC — Naturalization clinicsImmigration Institute of the Bay Area (IIBA) — Naturalization clinicsLawyers’ Committee for Civil Rights of the San Francisco Bay Area (LCCRSF) — Asylum clinicsNew York Legal Assistance Group (NYLAG) — Asylum, naturalization, and TPS clinicsTahirih Justice Center — Immigration intake and U visa clinics
The need for pro bono legal support remains significant. The Pro Bono Declaration of the Americas states that “members of the legal profession have a responsibility to provide pro bono legal services”—a responsibility the Declaration links to the profession’s broader role in society and its commitment to a fair and equitable legal system.
“Access to justice depends on access to language,” said Eric Elting, Regional Director. “When someone can’t understand the proceeding that will decide their asylum claim or their immigration status, the legal system isn’t actually open to them. That’s the gap our pro bono partners work to close every day, and we’re proud to support that work.”
TransPerfect President and Co-CEO Phil Shawe commented, “Since our humble beginnings in NYC, we are proud to have performed pro bono legal work, including work to eliminate language barriers in legal processes. These efforts continue to this day.”
About TransPerfect Legal
TransPerfect Legal is the global leader in legal technology, AI, and advisory services for Am Law 200 and Global 100 law firms as well as corporate legal departments. With offices in more than 150 cities worldwide, solutions include forensic technology and consulting, eDiscovery and early data assessment, managed review and legal staffing, language services, deposition and trial support, and paper discovery, all offered alongside the Reef Technology ecosystem, TransPerfect Legal’s suite of proprietary applications that address the needs of legal and regulatory practitioners around the world. For more information, please visit www.transperfectlegal.com.
About TransPerfect
TransPerfect is the world’s largest provider of language and AI solutions for global business. From offices in over 150 cities on six continents, TransPerfect offers a full range of services in 200+ languages to clients worldwide. More than 6,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify the management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.
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Forum Edge AI Announces $94.4 Million Definitive AI Cloud Services Compute Agreement with Fireworks
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PALM BEACH, Fla., Oct. 26, 2026 /PRNewswire/ — Forum Markets, Incorporated (“Forum” or “the Company”) (Nasdaq: FRMM), an innovator in sourcing and operating cash-generating assets in AI infrastructure, commercial aerospace and AI-powered consumer finance, today announced that Forum Edge AI LLC (“Forum Edge”), the Company’s joint venture with Edge Node Inc., has entered into a definitive agreement with Fireworks, the specialized intelligence platform, for a 36-month reservation of Nvidia B300 GPU capacity at its existing, powered data center facility in Dallas.
The agreement carries a combined total contract value of approximately $94.4 million, reflecting GPU capacity and associated CPU management node fees payable over the 36-month term. Fireworks has provided a substantial prepayment deposit, which will be credited against fees due across the term.
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“This agreement is an important proof point for our AI infrastructure strategy and reflects our focus on bringing revenue generating GPUs to market quickly in a modular manner,” said McAndrew Rudisill, chairman and chief executive officer of Forum Markets, Incorporated. “We have a strong partnership with Fireworks and are excited about our growth trajectory as we scale our AI infrastructure business. This is the first finalized contract Forum Edge is executing against and the first of several exciting partnerships we expect to deploy into our unique footprint.”
Fireworks provides inference, training, and routing that help enterprises deploy and scale generative AI applications in production. The company was most recently valued at approximately $17.5 billion, with backers including Nvidia, Atreides Management, Index Ventures and TCV. Fireworks’ scale and the caliber of its financial backers reflect the type of high-quality counterparty Forum has identified in its off-take partnerships.
Hosted AI, Inc., through its AI commercialization network/mesh and platform, facilitated the relationship between Forum Edge AI and Fireworks.
The agreement represents Forum Edge’s first contracted customer commitment and supports Forum’s broader strategy of deploying disciplined, risk-adjusted capital into cash-generating AI infrastructure assets.
About Forum Markets, Incorporated
Forum Markets, Incorporated (Nasdaq: FRMM) is an innovative company that sources and structures cash-generating assets with attractive risk-adjusted returns in aerospace, AI, and AI-powered consumer finance. The company draws on proprietary origination pipelines and strategic co-investment partnerships to scale its portfolio and generate durable operating income. Forum integrates traditional asset management principles with hands-on operational execution as it builds a new framework for how real-world assets are owned, managed, and monetized. For more information, please visit forum-markets.com.
Forward-Looking Statements
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Perhaps Agency Expands Network Relationships for Emerging Brands
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Media Contact
Jen Root, Perhaps, 1 (786) 396-9863, pr@perhaps.com, www.perhaps.com
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