The global corporate secretarial services market accounted to US$835.5 Mn in 2017 and is expected to grow at a CAGR of 7.3% during the forecast period 2018 – 2025, to account to US$1,440.5 Mn by 2025
Business diversity is one of the major concerns hovering around the globalization of any organization. For any company to tap larger international markets, understanding the local needs and requirements of the consumer becomes highly crucial. An internal team of experts from the company might not be well acquainted by the demographics of the particular region that the company aims to tap for future business.
Geographies around the globe are characterized by high regional diversities with respect to various facts such as demands of the customer, disposable incomes of the consumer, governmental legislations in the region, the percentage of the youth population, percentage of literacy in the region, and some cultural deviations. Altogether, these factors require a deep and focused study before for tapping the new market.
Hence, hiring personnel for performing the activity of studying the market has become a necessity for small and large organisations. It also, gives the organisations leverage to employ their own resources at different tasks other than researching. The research is cost effective for the client in the long term post successful implementation of the business.