Overview and Scope
Management consulting is defined as advising and implementing services to organizations’ management with the goal of improving the effectiveness of their business strategy, organizational performance, and operational processes.
Sizing and Forecast
The management consulting services market size has grown steadily in recent years. It will grow from $1001.17 billion in 2023 to $1045.9 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to globalization, technological advancements, outsourcing back-end operations to low cost economies, increasing investments in research and development (r&d), regulatory reforms in the financial sector and public private investments..
The management consulting services market size is expected to see steady growth in the next few years. It will grow to $1266.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to faster economic growth, digital consulting to drive growth, increasing investments in smart cities, increasing focus on customer satisfaction and global collaboration for environmental protection. Major trends in the forecast period include focus on offering metaverse consulting services, focus on offering internet of things (iot) in management consulting services, focus on modularization of services, focus on value-oriented revenue model, focus on automation and artificial intelligence, focus on offering services through virtual firms and mergers and acquisitions activities..
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Segmentation & Regional Insights
The management consulting services market covered in this report is segmented –
1) By Type: Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, HR Advisory, Other Consulting Services
2) By Service Provider: Large Enterprise, Small And Medium Enterprise
3) By End-Use Industry: IT Services, Manufacturing, Financial Services, Mining and Oil & Gas, Construction, Others
Western Europe was the largest region in the management consulting services market in 2023. North America was the second largest region in the management consulting services market. The regions covered in the management consulting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing demand for financial advisory services is expected to propel the growth of the management consulting services market going forward. Financial advisory services refer to professional services that provide advice and guidance to companies and individuals on financial matters. Management consulting services can help financial advisory services optimize their operations, reduce costs, improve efficiency, and identify and manage risks associated with their business operations, investments, and financial transactions. For instance, according to the Bureau of Labor Statistics, a US-based government agency, employment of personal financial advisors is projected to grow 13% from 2022 to 2032, much faster than the average for all occupations. Thus, increasing demand for financial advisory services is driving the growth of the management consulting services market.
Key Industry Players
Major companies operating in the management consulting services market report are Deloitte Touche Tohmatsu Limited, Accenture, PwC, Ernst & Young, KPMG, Buck Consultants, Moscow Consulting Group, Kesarev Consulting, Bain & Company, BS Group of Companies, PDG, A.T. Kearney, Serviceplan and BBDO, Uria Menendez, Linklaters, Dentons, Ruihua CPA, Altran, RSM, Jung von Matt, BlueFocus Communication Group Co. Ltd., BMC Software Consulting, AECOM, Strategy&, Environmental Resources Management (ERM), Beijing Dentsu Advertising Co.,Ltd., Rediffusion, Environmental Technology Consultants, DLA Piper International, International Business Machines Corporation, BDO, Stone, Oliver Wyman, Everis, Cyklo Agritech, Allen & Overy, FinExpertiza, AMEC Foster Wheeler, Freshfields Bruckhaus Deringer, Baker & McKenzie, Cognizant Ativup, Amphos 21 Consulting S.LBonelliErede, Nehlsen Middle East Environmental Consultancy, Garrigues, DeHeng Law Offices, Grant Thornton, Mediterra Environmental Consultants, L.E.K. Consulting, TCA, International Gulf Engineering Consultancy Bureau LLC (IGB), CGI, McKinsey & Company, IBM Global Business Services, Yingke Law Firm, Cleary Gottlieb Steen & Hamilton, Havas Media, Cuatrecasas, Akin Gump Strauss Hauer & Field LLP, Orenda Advisory & Strategy, Letsema, Alvarez & Marsal, Clifford Chance, AArete, BWG, Accelare, Adopt Technologies, Aetha Consulting, Alira Health, Aon Consulting, Booz & Company, Boston Consulting Group, Inc., C Ahead Info Technologies Africa (Pty) Ltd, Certio Medio Ambiente, S.L, DDB Mudra Group, Yekom Consulting Engineers, Westech, Deloitte ToucheTohmatsu Huayong CPA, CapGemini, Pan-China CPA, Khulisa, Zenith Optimedia, Africa International Advisors, Carat France, Moore Stephens UK, MAC Consulting, Lince Consulting, Roland Berger, Pricewaterhouse Coopers, Tendências Consultoria Integrada
The management consulting services market report table of contents includes:
1. Executive Summary
- Management Consulting Services Market Characteristics
- Management Consulting Services Product/Service Analysis -Product/Service Examples
- Management Consulting Services Market Trends And Strategies
- Management Consulting Services Market – Macro Economic Scenario
.
- Global Management Consulting Services Market Competitive Benchmarking
- Global Management Consulting Services Market Competitive Dashboard
- Key Mergers And Acquisitions In The Management Consulting Services Market
- Management Consulting Services Market Future Outlook and Potential Analysis
- Appendix
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