Professional services marketplace refers to a marketplace where a customer can search for and find a service providers from whom they can either purchase a service at a fixed price, request a quote, make an online booking or perform some other call to action that results in an exchange of services. Service marketplaces are one of the fastest growing sub-sectors of online marketplaces with marketplace players focussing on three key sectors of service delivery based on type of service task – Asset sharing marketplaces, marketplaces for basic, trial tasks and finally highly skilled professional services marketplaces. The below image from Deloitte’s article on how online marketplaces are transforming service models illustrates the different marketplace sub-sector types and the business models that are emerging in the delivery of these services through online marketplaces. Marketplaces that focus on High-skill tasks are set to boom. Globally the professional services market is growing rapidly, according to the recently published report Professional Services Market Global Report 2017 by The Business Research Company. The market is forecast to register a 5.4% growth rate from 2016 to 2020, reaching almost $5 trillion. The majority of these services involve design, research, promotional or consultancy services. Accounting services alone are slated to grow by 6.2% from 2016 to 2020, due to the increasing demand for tax-filing, payroll processing and auditing. For businesses looking to establish a startup marketplace, or for professional services businesses wanting to create opportunities that expand their offering or establishing a leadership position in the market, these eight features should feature at the top of your marketplace feature checklist.
