Global Industries with the Largest Number of Businesses in 2023

1. Global Commercial Real Estate

Number of Businesses for 2023: 7,031,496

The Global Commercial Real Estate industry has grown over much of the five years to 2022. However, investor confidence slightly declined over the same period, decreasing an annualized 0.2%. Additionally, the outbreak of COVID-19 (coronavirus) severely constricted demand as economic uncertainty skyrocketed. Particularly, industry revenue declined 7.2% and 4.0% in 2020 and 2021, respectively. As a result, industry revenue is expected to slightly decline an annualized 0.3% to $4.2 trillion over the five years to 2022, despite an anticipated increase of 1.1% in 2022 as the economy recovers from the coronavirus pandemic.

The growth of a country's economy tends to boost... Learn More

2. Global Management Consultants

Number of Businesses for 2023: 2,313,375

Global Management Consultants provide advisory services to clients to help improve organizational performance. Consultants focus on organizational design, process management and corporate strategy topics. Over the five years to 2023, demand for management consulting services has increased, despite the onset of the COVID-19 pandemic in 2020. However, industry profit is expected to decline as wage pressure, competition, and reduced demand weigh on profit growth in recent years. Global economic growth was the primary driver of industry revenue throughout most of the period. In addition, while the COVID-19 pandemic drastically affected the global economy, the industry did not fare as poorly... Learn More

3. Global Accounting Services

Number of Businesses for 2023: 1,590,203

Operators in the Global Accounting Services industry commonly provide a variety of services, such as the preparation of financial statements, the development of budgets and the review of auditing records for small, medium and large businesses. Stabilization and steady economic growth in developed nations and continued strength in many emerging nations have encouraged business creations and expansion, thereby increasing the potential pool of clientele for accounting firms. Therefore, industry revenue is expected to increase at an annualized rate of 3.0% to $573.8 billion over the five years to 2022, increasing 2.6% in 2022 alone. This increase in 2022 can be... Learn More

4. Global Insurance Brokers & Agencies

Number of Businesses for 2023: 1,109,158

The Global Insurance Brokers and Agencies industry plays a critical role in the insurance market by distributing policies and consulting insurance underwriters and consumers. Given the transaction-based nature of the industry, revenue primarily depends on three factors, which include policy pricing, demand for insurance and the popularity of using agents and brokers in the distribution process. The industry has been hindered from the global economic uncertainty that has been caused by the COVID-19 (coronavirus) pandemic. Overall, industry revenue is anticipated to fall an annualized 2.1% to $459.6 billion over the five years to 2021, along with a marginal decline of... Learn More

5. Global HR & Recruitment Services

Number of Businesses for 2023: 866,317

HR and recruitment companies rely on a businesses' desire to outsource their recruitment process and human resource management activities. Their performance depends on their major market's economies and the impact these conditions have on labor. Regulation, especially for temporary employees, can hamstring providers, as this makes it more difficult to operate. More liberal labor laws in developed nations have been essential to HR and recruitment companies' growth. Large companies are now focusing on emerging markets that will undergo the same process in the future. COVID-19 put a halt to positive momentum in recent years, as businesses seeking to cut costs... Learn More

6. Global Tourism

Number of Businesses for 2023: 803,506

The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. Countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More

7. Global Internet Service Providers

Number of Businesses for 2023: 752,597

Increasing use of the internet has significantly benefited the Global Internet Service Providers industry over the five years to 2021. Expansion has been propelled by rapid advancements in digital infrastructure and services, particularly in developing economies where internet penetration remains low. The emergence of powerful personal and business internet applications has transformed how businesses and consumers operate, and has also presented opportunities for operators to offer additional high-margin services. Despite these advancements, industry profit has declined over the five years to 2021. Nevertheless, rising demand for broadband internet access and continued investment in wired internet infrastructure have helped propel the... Learn More

8. Global Fast Food Restaurants

Number of Businesses for 2023: 587,055

Over the five years to 2022, the Global Fast Food Restaurants industry has expanded despite changing consumer tastes and a recovering global economy. As disposable income rose during the period, consumers increased spending on luxuries, such as eating out, therefore also boosting industry revenue. However, full-service restaurants outperformed fast food establishments during this period, as many consumers had more disposable income. The industry also experienced steady and growing demand from emerging economies, which boosted the industry's overall performance. During this period, the industry has also been forced to adapt to increasingly health-conscious consumer preferences. While major fast food retailers have... Learn More

9. Global Hotels & Resorts

Number of Businesses for 2023: 565,061

Over the five years to 2023, the Global Hotels and Resorts industry has expanded. Initially, strong growth before the pandemic occurred as consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This factor resulted in a substantial increase in hotel rooms and occupancy rates, two indicators of a hotel's performance. Global tourist arrivals were also steadily increasing until a drastic drop in 2020 due to the worldwide spread of COVID-19. In 2020 alone, industry revenue declined 40.1% due to the pandemic effect. The pandemic has enormously influenced all tourism-related industries, as many... Learn More

10. Global Engineering Services

Number of Businesses for 2023: 455,894

Companies operating in the Global Engineering Services industry apply the physical laws and principles of engineering to design and develop structures, machines, materials, instruments and other processes and systems. Services also include providing advice, feasibility studies, designs and technical services during construction or development. Consequently, the performance of the industry relies on investment trends and the overall health of the economy to fuel projects where engineering services are needed. Strong investment in major markets, such as the United States, Europe and East Asia, has driven industry growth in recent years. As a result, industry revenue is anticipated to grow an... Learn More