The global management consulting services market reached a value of nearly $904.73 billion in 2021, having increased at a compound annual growth rate (CAGR) of 3.7% since 2016. The market is expected to grow from $904.73 billion in 2021 to $1,166.01 billion in 2026 at a rate of 5.2%. The market is then expected to grow at a CAGR of 4.2% from 2026 and reach $1,430.14 billion in 2031.
Growth in the historic period resulted from strong economic growth in emerging markets, 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. Factors that negatively affected growth in the historic period were the regulatory challenges, outsourcing regulations, shortage of skilled workers, privacy and security issues, accounting scandals and coronavirus pandemic.
Going forward, faster economic growth, digital consulting to drive growth, increasing investments in smart cities, increasing focus on customer satisfaction and global collaboration for environmental protection will drive market growth. Factors that could hinder the growth of the management consulting services market in the future include rising costs and decreasing margins, struggling to crack big technological players and geo-political tensions.
The management consulting services market is segmented by type into operations advisory, financial advisory, technology advisory, strategy advisory, HR advisory and other consulting services. The operations advisory was the largest segment of the management consulting services market by type, accounting for $257.25 billion or 28.4% of the total market in 2021. The strategy advisory market is expected to be the fastest-growing segment going forward at a CAGR of 7.5%.
The management consulting services market is segmented by service provider into large enterprise and small and medium enterprise. The large enterprise was the largest segment of the management consulting services market by application, accounting for $567.13 billion or 62.7% of the total market in 2021. The small and medium enterprise market is expected to be the fastest-growing segment going forward at a CAGR of 5.5%.
The management consulting services market is segmented by end use industry into IT services, manufacturing, financial services, mining and oil & gas, construction and others. The financial services market was the largest segment of the management consulting services market by end user, accounting for $372.99 billion or 41.2% of the total market in 2021. The IT services market is expected to be the fastest-growing segment going forward at a CAGR of 5.7%.
Western Europe was the largest region in the management consulting services market, accounting for 38.2% of the global market in 2021. It was followed by North America, Asia Pacific and the other regions. Going forward, the fastest growing regions in the management consulting services market will be Middle East and the Africa, where growth will be at CAGRs of 10.83% and 7.84% respectively from 2021-2026.
The global management consulting services market is fragmented, with a large number of players. The top ten competitors in the market made up to 16.39% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Deloitte Touche Tohmatsu Limited was the largest competitor with 3.68% share of the market, followed by Accenture with 3.02%, PwC with 2.04%, Ernst & Young with 1.87%, KPMG with 1.51%, Boston Consulting Group, Inc. with 1.22%, McKinsey & Company with 1.19%, International Business Machines Corporation with 0.99%, Bain & Company with 0.64% and Booz Allen Hamilton with 0.23%.
The top growth potential in the management consulting services market by type will arise in the operations advisory market, which will gain $63.5 billion of global annual sales by 2026. The top growth potential in the management consulting services market by service provider will arise in the large enterprise market, which will gain $157.0 billion of global annual sales by 2026. The top growth potential in the management consulting services market by end use industry will arise in financial services market, which will gain $105.8 billion of global annual sales by 2026. The management consulting services market size will gain the most in the USA at $60.0 billion.
Market-trend-based strategies for the management consulting services market 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.
Player-adopted strategies in the management consulting services market include focusing on strategic acquisitions, launching of new services, focusing on identifying new opportunities and investing in technology tools.
To take advantage of the opportunities, the publisher recommends the management consulting services companies to focus on metaverse management consulting services, focus on internet of things (IoT) consulting, focus on modularization of services, increase focus on artificial intelligence (AI) and automation, focus on virtual firms, expand in emerging economies, increase focus on mergers and acquisitions, focus on value-oriented pricing, offer competitive prices, continue to use B2B promotions and target fast-growing end-use industries.
This report describes and evaluates the global management consulting services market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.
Growth in the historic period resulted from strong economic growth in emerging markets, 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. Factors that negatively affected growth in the historic period were the regulatory challenges, outsourcing regulations, shortage of skilled workers, privacy and security issues, accounting scandals and coronavirus pandemic.
Going forward, faster economic growth, digital consulting to drive growth, increasing investments in smart cities, increasing focus on customer satisfaction and global collaboration for environmental protection will drive market growth. Factors that could hinder the growth of the management consulting services market in the future include rising costs and decreasing margins, struggling to crack big technological players and geo-political tensions.
The management consulting services market is segmented by type into operations advisory, financial advisory, technology advisory, strategy advisory, HR advisory and other consulting services. The operations advisory was the largest segment of the management consulting services market by type, accounting for $257.25 billion or 28.4% of the total market in 2021. The strategy advisory market is expected to be the fastest-growing segment going forward at a CAGR of 7.5%.
The management consulting services market is segmented by service provider into large enterprise and small and medium enterprise. The large enterprise was the largest segment of the management consulting services market by application, accounting for $567.13 billion or 62.7% of the total market in 2021. The small and medium enterprise market is expected to be the fastest-growing segment going forward at a CAGR of 5.5%.
The management consulting services market is segmented by end use industry into IT services, manufacturing, financial services, mining and oil & gas, construction and others. The financial services market was the largest segment of the management consulting services market by end user, accounting for $372.99 billion or 41.2% of the total market in 2021. The IT services market is expected to be the fastest-growing segment going forward at a CAGR of 5.7%.
Western Europe was the largest region in the management consulting services market, accounting for 38.2% of the global market in 2021. It was followed by North America, Asia Pacific and the other regions. Going forward, the fastest growing regions in the management consulting services market will be Middle East and the Africa, where growth will be at CAGRs of 10.83% and 7.84% respectively from 2021-2026.
The global management consulting services market is fragmented, with a large number of players. The top ten competitors in the market made up to 16.39% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Deloitte Touche Tohmatsu Limited was the largest competitor with 3.68% share of the market, followed by Accenture with 3.02%, PwC with 2.04%, Ernst & Young with 1.87%, KPMG with 1.51%, Boston Consulting Group, Inc. with 1.22%, McKinsey & Company with 1.19%, International Business Machines Corporation with 0.99%, Bain & Company with 0.64% and Booz Allen Hamilton with 0.23%.
The top growth potential in the management consulting services market by type will arise in the operations advisory market, which will gain $63.5 billion of global annual sales by 2026. The top growth potential in the management consulting services market by service provider will arise in the large enterprise market, which will gain $157.0 billion of global annual sales by 2026. The top growth potential in the management consulting services market by end use industry will arise in financial services market, which will gain $105.8 billion of global annual sales by 2026. The management consulting services market size will gain the most in the USA at $60.0 billion.
Market-trend-based strategies for the management consulting services market 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.
Player-adopted strategies in the management consulting services market include focusing on strategic acquisitions, launching of new services, focusing on identifying new opportunities and investing in technology tools.
To take advantage of the opportunities, the publisher recommends the management consulting services companies to focus on metaverse management consulting services, focus on internet of things (IoT) consulting, focus on modularization of services, increase focus on artificial intelligence (AI) and automation, focus on virtual firms, expand in emerging economies, increase focus on mergers and acquisitions, focus on value-oriented pricing, offer competitive prices, continue to use B2B promotions and target fast-growing end-use industries.
This report describes and evaluates the global management consulting services market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.
Table of Contents
1. Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure7. Product/Service Analysis -Product/Service Examples
6. Introduction and Market Characteristics
8. Supply Chain Analysis
9. Customer Information
10. Major Market Trends
11. Global Management Consulting Services Market Size And Growth
12. Management Consulting Services Market, Regional Analysis
13. Global Management Consulting Services Market Segmentation
14. Market Comparison with Macro Economic Factors
15. Asia-Pacific Market
16. Western Europe Market
17. Eastern Europe Market
18. North America Market
19. South America Market
20. Middle East Market
21. Africa Market
22. Competitive Landscape And Company Profiles
23. Key Mergers and Acquisitions
24. Market Background: Design, Research, Promotional And Consulting Services Market Characteristics
25. Management Consulting Services Market Opportunities And Strategies
26. Management Consulting Services Market, Conclusions And Recommendations
27. Appendix
Executive Summary
Management Consulting Services Global Market Opportunities And Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global management consulting services market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 48 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider management consulting services market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics: Brief introduction to the segmentations covered in the market, defintions and explanations about the management consulting services market
- Key Trends: Highlights the major trends shaping the global management consulting services market. This section also highlights likely future developments in the market
- Global Market Size and Growth: Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional Analysis: Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region
- Market Segmentation: Contains the market values (2016-2031) and analysis for for segment by type, by service provider and by end use industry in the market
- Regional Market Size and Growth: Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape: Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions: Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities And Strategies: Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations: Includes recommendations for management consulting services providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix: This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Scope
Markets Covered
- 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
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; management consulting services indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Deloitte Touche Tohmatsu Limited
- Accenture
- PwC
- Ernst & Young
- KPMG
- Boston Consulting Group, Inc.
- McKinsey & Company
- International Business Machines Corporation
- Bain & Company
- Booz Allen Hamilton
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 408 |
| Published | November 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 904.73 Billion |
| Forecasted Market Value ( USD | $ 1430.14 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
