Expansion services: Key market research findings
- Emphasis on customer-centric goals
- Consumer goods as the dominant end-users
Technavio has added a new market research report on the global expansion services market, which is expected to grow at a CAGR of around 7% between 2015 and 2019. The shift towards core competencies by companies and the market potential in the APAC region are the key drivers for the growth of the expansion services market. APAC accounts for around 37% of the total market share, and is expected to witness the fastest growth in the global market for expansion services. Much of this region’s growth comes from the massive potential consumer based coupled with the high disposable income of the middle class.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The expansion service providers, particularly in the APAC are shifting their concentration towards a more customer-centric goal, improving their customer retention strategies. This will allow more flexibility to the end-users in executing their businesses. Through their customized services, they are aiming towards customer satisfaction to achieve their long-term objectives. Better customer satisfaction and customer relationships ultimately leads to a positive impact on sales and profitability, says Faizan Akhtar, Lead Analyst, New Coverage, Technavio Research.
Consumer goods were the dominant segment during 2014 and is expected to retain its market leadership until the end of 2019 with a growth rate of 7%. The rise in demand for consumer goods from emerging countries in APAC and Latin America is expected to drive the market growth during the forecast period. The increasing middle class with higher disposable income has led to increased demand for consumer goods and luxury products, which is boosting the growth of expansion services.
The leading vendors in the global expansion services market include DKSH, Dow Corning, Yeon and Brainmates, who account for over 70% of the market. All of the providers have a strong global network that enables the end users to outsource their business processes to them. Companies like DKSH have distribution and logistics, sales, research as well as after sales service facilities in 35 countries.
A more detailed analysis is available in the Technavio report, Global Expansion Services Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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