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The year 2024 marks a decisive turning point for the growth of the professional services sector. After nearly a decade of double-digit expansion, even the more modest growth forecasts for 2024 were not met in Europe (a striking example is the IT services sector, which recorded just 0.7% growth over the year—falling short of the 0.9% expected by Numeum in France). This slowdown signals a shift toward a more moderate growth trajectory, one that is likely to persist into 2025 and beyond.
The primary causes? A challenging economic and geopolitical landscape. Uncertainty benefits no one. As a result, professional services have faced a slowdown in organic growth, driven by declining demand for their service, while external growth has also stalled due to a drop in merger and acquisition activity—traditionally a key driver of sector expansion, particularly in acquiring specialised or international firms.
Caution is advised, but it is important to note that the market continues to grow, and some regions are not experiencing a slowdown.
This is why many professional services are looking beyond their borders—to North America, mainland Europe, or the Middle East. These represent strategic decisions, whether for investment opportunities or market expansion.
The majority of large companies have an international presence and are closely monitoring all political decisions taken at national and international level. In the current context (as of February 2025, at the time of writing), international trade and its rules are under attack: policies related to tariffs, border closures, restrictive legislation for professional services companies such as CSRD, which imposes enhanced ESG reporting, and DORA, which subjects financial service providers to strict cybersecurity and digital risk management requirements.
These decisions raise new concerns: how can companies maintain margins when skills are imported from countries with lower average labour costs, but the increase in tariffs weighs heavily on costs? Will offshoring skills become a necessity? And how can companies export their services while remaining competitive abroad?
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