Strategy consulting is a type of service that entrepreneurs enlist with the assistance of a third party to provide an objective, knowledgeable viewpoint on particular problems, typically by CEOs, boards, or management. Strategy consultants provide recommendations to numerous organizations on top-level business decisions by evaluating the high-level company issues, which in turn, delivers high business prospects and improved strategy undertaking among the consumer base. They look at specific issues from all angles and offer guidance on how businesses can approach them. In addition, consultants are valued mainly for their expertise, specialized abilities, and influence. The strategy consulting market is benefited from a number of factors, including increasing business competition and the surge in demand for strategic business planning.
In addition, salespeople and consultants are typically using hybrid working models as a result of travel restrictions from the recent pandemic situation, therefore, consumers are looking for digital solutions and services, including real-time strategy consulting. Furthermore, workers are expected to benefit from the freedom it provides and assists businesses in reaching out to more potential clients at the same time. For instance, with clients based in different geographical areas, platforms such as Microsoft Teams enable end-users to communicate effectively from location to location, regardless of where the user is based.
Factors such as the proliferation of digital-driving business models are expected to boost market growth. In addition, the increasing globalization in consulting projects and the growing focus on risk sharing through strategic partnerships and M&A recommendations further drive the market's growth. Furthermore, the rising technology integration in consulting service type is expected to provide lucrative growth opportunities for the market in the upcoming years. However, the presence of huge alternatives related to strategy consulting service type, security concerns, and data privacy issues associated with online consulting constraints hampers the market growth.
The strategy consulting market is segmented on the basis of service type, organization size, industry vertical, and region. By service type, it is fragmented into corporate strategy, business model transformation, economic policy, merger & acquisition, organizational strategy, functional strategy, strategy & operations, and digital strategy. By organization size, it is categorized into small to medium enterprises (SMEs) and large enterprises. By industry vertical, it is segregated into manufacturing, energy & utilities, retail & e-commerce, IT & telecom, healthcare & pharmacy, government & public sector, BFSI, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the strategy consulting market include Accenture, AT Kearney, Bain & Company, Inc, Boston Consulting Group, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International, McKinsey & Company, Oliver Wyman Inc., PwC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which drive the growth of the strategy consulting market globally.
In addition, salespeople and consultants are typically using hybrid working models as a result of travel restrictions from the recent pandemic situation, therefore, consumers are looking for digital solutions and services, including real-time strategy consulting. Furthermore, workers are expected to benefit from the freedom it provides and assists businesses in reaching out to more potential clients at the same time. For instance, with clients based in different geographical areas, platforms such as Microsoft Teams enable end-users to communicate effectively from location to location, regardless of where the user is based.
Factors such as the proliferation of digital-driving business models are expected to boost market growth. In addition, the increasing globalization in consulting projects and the growing focus on risk sharing through strategic partnerships and M&A recommendations further drive the market's growth. Furthermore, the rising technology integration in consulting service type is expected to provide lucrative growth opportunities for the market in the upcoming years. However, the presence of huge alternatives related to strategy consulting service type, security concerns, and data privacy issues associated with online consulting constraints hampers the market growth.
The strategy consulting market is segmented on the basis of service type, organization size, industry vertical, and region. By service type, it is fragmented into corporate strategy, business model transformation, economic policy, merger & acquisition, organizational strategy, functional strategy, strategy & operations, and digital strategy. By organization size, it is categorized into small to medium enterprises (SMEs) and large enterprises. By industry vertical, it is segregated into manufacturing, energy & utilities, retail & e-commerce, IT & telecom, healthcare & pharmacy, government & public sector, BFSI, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the strategy consulting market include Accenture, AT Kearney, Bain & Company, Inc, Boston Consulting Group, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International, McKinsey & Company, Oliver Wyman Inc., PwC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which drive the growth of the strategy consulting market globally.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global strategy consulting market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global strategy consulting market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Service Type
- Corporate Strategy
- Business Model Transformation
- Economic Policy
- Mergers and Acquisitions
- Organizational Strategy
- Functional Strategy
- Strategy and Operations
- Digital Strategy
By Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
By Industry Vertical
- IT and Telecom
- BFSI
- Energy and Utilities
- Healthcare and Pharma
- Manufacturing
- Government and Public Sector
- Retail and Ecommerce
- Others
By Region
- North America
- U. S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Accenture
- Deloitte Touche Tohmatsu Limited
- KPMG International
- McKinsey & Company
- Boston Consulting Group
- Bain & Company, Inc
- AT Kearney
- Oliver Wyman Inc.
- PwC
- Ernst & Young Global Limited (EY)
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: STRATEGY CONSULTING MARKET, BY SERVICE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Corporate Strategy
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Business Model Transformation
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Economic Policy
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
4.5 Mergers and Acquisitions
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market share analysis by country
4.6 Organizational Strategy
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market share analysis by country
4.7 Functional Strategy
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market share analysis by country
4.8 Strategy and Operations
4.8.1 Key market trends, growth factors and opportunities
4.8.2 Market size and forecast, by region
4.8.3 Market share analysis by country
4.9 Digital Strategy
4.9.1 Key market trends, growth factors and opportunities
4.9.2 Market size and forecast, by region
4.9.3 Market share analysis by country
CHAPTER 5: STRATEGY CONSULTING MARKET, BY ORGANIZATION SIZE
5.1 Overview
5.1.1 Market size and forecast
5.2 Large Enterprises
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Small and Medium-sized Enterprises
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
CHAPTER 6: STRATEGY CONSULTING MARKET, BY INDUSTRY VERTICAL
6.1 Overview
6.1.1 Market size and forecast
6.2 IT and Telecom
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 BFSI
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Energy and Utilities
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Healthcare and Pharma
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
6.6 Manufacturing
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market share analysis by country
6.7 Government and Public Sector
6.7.1 Key market trends, growth factors and opportunities
6.7.2 Market size and forecast, by region
6.7.3 Market share analysis by country
6.8 Retail and Ecommerce
6.8.1 Key market trends, growth factors and opportunities
6.8.2 Market size and forecast, by region
6.8.3 Market share analysis by country
6.9 Others
6.9.1 Key market trends, growth factors and opportunities
6.9.2 Market size and forecast, by region
6.9.3 Market share analysis by country
CHAPTER 7: STRATEGY CONSULTING MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Service Type
7.2.3 North America Market size and forecast, by Organization Size
7.2.4 North America Market size and forecast, by Industry Vertical
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Key market trends, growth factors and opportunities
7.2.5.1.2 Market size and forecast, by Service Type
7.2.5.1.3 Market size and forecast, by Organization Size
7.2.5.1.4 Market size and forecast, by Industry Vertical
7.2.5.2 Canada
7.2.5.2.1 Key market trends, growth factors and opportunities
7.2.5.2.2 Market size and forecast, by Service Type
7.2.5.2.3 Market size and forecast, by Organization Size
7.2.5.2.4 Market size and forecast, by Industry Vertical
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Service Type
7.3.3 Europe Market size and forecast, by Organization Size
7.3.4 Europe Market size and forecast, by Industry Vertical
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Key market trends, growth factors and opportunities
7.3.5.1.2 Market size and forecast, by Service Type
7.3.5.1.3 Market size and forecast, by Organization Size
7.3.5.1.4 Market size and forecast, by Industry Vertical
7.3.5.2 Germany
7.3.5.2.1 Key market trends, growth factors and opportunities
7.3.5.2.2 Market size and forecast, by Service Type
7.3.5.2.3 Market size and forecast, by Organization Size
7.3.5.2.4 Market size and forecast, by Industry Vertical
7.3.5.3 France
7.3.5.3.1 Key market trends, growth factors and opportunities
7.3.5.3.2 Market size and forecast, by Service Type
7.3.5.3.3 Market size and forecast, by Organization Size
7.3.5.3.4 Market size and forecast, by Industry Vertical
7.3.5.4 Italy
7.3.5.4.1 Key market trends, growth factors and opportunities
7.3.5.4.2 Market size and forecast, by Service Type
7.3.5.4.3 Market size and forecast, by Organization Size
7.3.5.4.4 Market size and forecast, by Industry Vertical
7.3.5.5 Spain
7.3.5.5.1 Key market trends, growth factors and opportunities
7.3.5.5.2 Market size and forecast, by Service Type
7.3.5.5.3 Market size and forecast, by Organization Size
7.3.5.5.4 Market size and forecast, by Industry Vertical
7.3.5.6 Rest of Europe
7.3.5.6.1 Key market trends, growth factors and opportunities
7.3.5.6.2 Market size and forecast, by Service Type
7.3.5.6.3 Market size and forecast, by Organization Size
7.3.5.6.4 Market size and forecast, by Industry Vertical
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Service Type
7.4.3 Asia-Pacific Market size and forecast, by Organization Size
7.4.4 Asia-Pacific Market size and forecast, by Industry Vertical
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Key market trends, growth factors and opportunities
7.4.5.1.2 Market size and forecast, by Service Type
7.4.5.1.3 Market size and forecast, by Organization Size
7.4.5.1.4 Market size and forecast, by Industry Vertical
7.4.5.2 India
7.4.5.2.1 Key market trends, growth factors and opportunities
7.4.5.2.2 Market size and forecast, by Service Type
7.4.5.2.3 Market size and forecast, by Organization Size
7.4.5.2.4 Market size and forecast, by Industry Vertical
7.4.5.3 Japan
7.4.5.3.1 Key market trends, growth factors and opportunities
7.4.5.3.2 Market size and forecast, by Service Type
7.4.5.3.3 Market size and forecast, by Organization Size
7.4.5.3.4 Market size and forecast, by Industry Vertical
7.4.5.4 Australia
7.4.5.4.1 Key market trends, growth factors and opportunities
7.4.5.4.2 Market size and forecast, by Service Type
7.4.5.4.3 Market size and forecast, by Organization Size
7.4.5.4.4 Market size and forecast, by Industry Vertical
7.4.5.5 South Korea
7.4.5.5.1 Key market trends, growth factors and opportunities
7.4.5.5.2 Market size and forecast, by Service Type
7.4.5.5.3 Market size and forecast, by Organization Size
7.4.5.5.4 Market size and forecast, by Industry Vertical
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Key market trends, growth factors and opportunities
7.4.5.6.2 Market size and forecast, by Service Type
7.4.5.6.3 Market size and forecast, by Organization Size
7.4.5.6.4 Market size and forecast, by Industry Vertical
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Service Type
7.5.3 LAMEA Market size and forecast, by Organization Size
7.5.4 LAMEA Market size and forecast, by Industry Vertical
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Key market trends, growth factors and opportunities
7.5.5.1.2 Market size and forecast, by Service Type
7.5.5.1.3 Market size and forecast, by Organization Size
7.5.5.1.4 Market size and forecast, by Industry Vertical
7.5.5.2 Middle East
7.5.5.2.1 Key market trends, growth factors and opportunities
7.5.5.2.2 Market size and forecast, by Service Type
7.5.5.2.3 Market size and forecast, by Organization Size
7.5.5.2.4 Market size and forecast, by Industry Vertical
7.5.5.3 Africa
7.5.5.3.1 Key market trends, growth factors and opportunities
7.5.5.3.2 Market size and forecast, by Service Type
7.5.5.3.3 Market size and forecast, by Organization Size
7.5.5.3.4 Market size and forecast, by Industry Vertical
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Accenture
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Deloitte Touche Tohmatsu Limited
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 KPMG International
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 McKinsey & Company
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Boston Consulting Group
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Bain & Company, Inc
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 AT Kearney
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Oliver Wyman Inc.
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 PwC
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Ernst & Young Global Limited (EY)
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
Executive Summary
The Strategy Consulting Market is likely to experience a significant growth rate of 11.6% from 2022-2031 owing to increasing market demand from Healthcare and Pharma sector.Strategy consulting is a subset of management consulting services that primarily assist a company with effective business strategies and assist them in implementing the strategies into practice to boost revenue. Strategy consultants provide in-depth industry knowledge and impartial advice to provide organizations with the best outcomes for significant decisions. In addition, consultants do not offer a one-size-fits-all solution. Their value comes in learning about each client’s business and goals and tailoring advice and strategy consulting to the specific challenges that the business faces.
Key factors driving the growth of the strategy consulting market include the proliferation of digital-driving business models, increasing globalization in consulting projects, and a growing focus on risk sharing through strategic partnerships and M&A recommendations. Growing focus on risk sharing through strategic partnerships and M&A recommendations, and a disruptive market environment fundamentally support the stability of challenging companies. Therefore, companies are changing the way they operate by adopting acquisition as a strategic method. For instance, in September 2022, global IT consulting firm, Accenture, acquired The Beacon Group, a growth strategy consulting firm serving Fortune 500 companies across technology, aerospace, industrial, healthcare, and life sciences industries. This acquisition helps in the growth framework and market modeling platform to expand capabilities that further helps a client to identify the obstacle, make suitable changes accordingly, and shape their business strategies to deliver and sustain value to all stakeholders.
The market also offers growth opportunities to the key players in the market. Rising technology integration such as AI, machine learning, process automation, blockchain, and others in consulting service type is expected to create a lucrative opportunity for market growth. Artificial intelligence can create a massive competitive advantage as it detects patterns and offers cognitive functionalities for large amounts of data. Hence, several companies are incorporating AI technology into this business function. For instance, Addepto, headquartered in Poland, has helped several Fortune 500 companies, including P&G and Citibank, to develop strategies and deploy solutions around AI technology. It aims to help clients realize the value in the data that they can collect and analyze by drawing out insights that help them build new business models or streamline existing ones. Moreover, other major vendors, such as Infosys, have built their own AI consultancy service that enables intelligent enterprise automation, creates new revenue models, and encourages the ethical use of AI.
The strategy consulting market is segmented into service type, organization size, industry vertical, and region. On the basis of service type, the market is categorized into s corporate strategy, business model transformation, economic policy, merger & acquisition, organizational strategy, functional strategy, strategy & operations, and digital strategy. On the basis of organization size, it is categorized into large enterprises and small to medium enterprises (SMEs). On the basis of industry vertical, it is fragmented into IT & telecom, BFSI, energy & utilities, healthcare, manufacturing, government and public sector, retail and e-commerce, and others. Region-wise, it is analyzed across North America (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study include Accenture, AT Kearney, Bain & Company, Inc, Boston Consulting Group, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International, McKinsey & Company, Oliver Wyman Inc., PwC. The players in the market have been actively engaged in the adoption of various strategies such as partnership, collaboration, acquisition, product development, and product launch to remain competitive and gain the advantage over the competitors in the market. For instance, in May 2022, Management consulting firm McKinsey acquired S4G Consulting, a Salesforce Platinum cloud consulting partner.
Key Market Insights
By service type, the corporate strategy segment was the highest revenue contributor to the market and is estimated to reach $17,096.91 billion by 2031, with a CAGR of 7.0%. However, the digital strategy segment is estimated to be the fastest-growing segment with a CAGR of 14.9% during the forecast period.By organization size, the large enterprises segment dominated the global market and is estimated to reach $76,818.59 billion by 2031, with a CAGR of 10.9%. However, the small and medium-sized enterprise segment is expected to be the fastest-growing segment during the strategy consulting market forecast.
Based on industry vertical, the BFSI segment was the highest revenue contributor to the market, with $8,693.09 billion in 2021, and is estimated to reach $16,492.22 billion by 2031, with a CAGR of 6.9%.
Based on region, North America was the highest revenue contributor, accounting for $14,841.6 billion in 2021, and is estimated to reach $37,814.71 billion by 2031, with a CAGR of 10.1%.
Companies Mentioned
- Accenture
- Deloitte Touche Tohmatsu Limited
- Kpmg International
- Mckinsey & Company
- Boston Consulting Group
- Bain & Company, Inc.
- at Kearney
- Oliver Wyman Inc.
- Pwc
- Ernst & Young Global Limited (Ey)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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