The global strategy consulting market accounted to US$43.07 Bn in 2017 and is expected to grow at a CAGR of 9.9% during the forecast period 2018 - 2025, to account to US$91.38 Bn by 2025
Since decades, the consulting industry has imparted knowledge to the organizations where it is impacted owing to fundamental economic changes happening in the economy. The consulting industry used to work on the time based billing model and execute projects for client. Also, large projects would be awarded to single firms and the entire consulting industry would be ruled a few leading competitors in the strategy consulting market. However, the scenario has started to change where a large project would be shared and collaborated between many consulting firms. Also, many new entrants with advanced technologies have been emerging in the industry and ensuring that only a few leaders do not rule the entire consulting industry.
Risk and uncertainty are the constant factors for businesses today as threat from any corner can shake the entire industry setup and change the way in which businesses perform. Conventional and traditional business practices always face the risk factor from the disruptive technologies or new entrants in the strategy consulting market. In such a dynamic and ever changing scenario, strategy consulting by businesses plays a highly critical role to survive in the market. A consulting business has the exposure to differing combinations of business circumstances coupled with work experience of working with different companies that results in the accumulation of knowledge of various fields. It is this knowledge that is imparted by the consulting industry to its clients in the strategy formulation.
The global strategy consulting market has been segmented on the basis of services and industry vertical. There is a myriad of services present to be catered by the consulting services players. For the strategy consulting market, some of the widely used services have been broadly segmented into business model transformation, corporate strategy, economic policy, organizational strategy, mergers & acquisitions, functional strategy, strategy & operations, and digital strategy. Further, the strategy consulting market has been segmented on the basis of industry verticals into IT & telecommunication, healthcare, BFSI, retail, manufacturing, and others. The analysis for market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM) is also provided in the strategy consulting market report.
The key industry players operating in strategy consulting market globally include A.T. Kearney, Inc., Accenture PLC, Delloite, Bain & Company, Ernst & Young Ltd., KPMG, McKinsey & Company, Mercer LLC, The Boston Consulting Group, and PwC. among others. Several other participants are also operational in global strategy consulting market that offer customers with robust solutions, thereby catalyzing the demand of strategy consulting market. Various other companies operating in the market and are coming up with new offerings which is helping the strategy consulting market to expand over the years in terms of revenue and subscription.
The List of Companies
1. A.T. Kearney, Inc.
2. Accenture PLC
3. Bain & Company, Inc.
4. The Boston Consulting Group
5. Deloitte Touche Tohmatsu Limited
6. Ernst & Young Ltd.
7. KPMG International
8. McKinsey & Company
9. Mercer, LLC