Management Consulting Market Scope
The global management consulting market is expected to witness high demand in the forecasted period due to the rising popularity of digital management consulting services across the globe. The management consulting (MC) market consists of the sales of MC services and related goods by entities (organizations, sole traders, and partnerships) that provide a range of services, including advice and assistance on organizational planning, financial budgeting, marketing strategies, human resource practices, administration policies, and production and logistics scheduling. Such services include solutions for administrative management issues, strategic and organizational planning, business process improvement, human resource and personnel policies, developing marketing planning and strategy, productivity improvement, quality assurance, and quality control.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Deloitte Consulting (United States), PwC (United Kingdom), KPMG (Netherlands), Accenture (Ireland), IBM (United States), McKinsey (United States), Booz Allen Hamilton (United States), The Boston Consulting Group (United States), Bain & Company (United States), Capco (Belgium) and Capgemini Consulting (France) |
CAGR | 6.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Management Consulting market throughout the predicted period.
Deloitte Consulting (United States), PwC (United Kingdom), KPMG (Netherlands), Accenture (Ireland), IBM (United States), McKinsey (United States), Booz Allen Hamilton (United States), The Boston Consulting Group (United States), Bain & Company (United States), Capco (Belgium) and Capgemini Consulting (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are CGI (Canada), Cognizant Technology Solutions (United States), Ernst & Young (United Kingdom), FTI Consulting (United States), Grant Thornton (United States), Hay Group (United States), HCL Axon (United Kingdom), Hewitt Associates (United States) and Hitachi Consulting (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Management Consulting market by Type and Region with country level break-up.
On the basis of geography, the market of Management Consulting has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In November 2023, Ramboll has significantly strengthened its Management Consulting practice by acquiring a renowned Germany-based management consultancy. Strategy implementation specialist acondas now joins Ramboll, adding significant expertise to the growing offering in the corporate transformation space.
In March 2023, Mercer LLC announced it was purchasing Leapgen, a prominent human resources (HR) technology consulting firm focused on workforce solutions, digital strategy and transformation, and improving employee experience, to expand its advisory services.
Influencing Trend:
Virtual Firms In The Management Consulting Industry and The emergence of information communication and technology, the world is rapidly moving towards the process of digitalization
Market Growth Drivers:
Integration of analytics, cloud, media and social media with business models and The growing demand for Digital consulting services
Challenges:
Increasing Project Complexity
Restraints:
The rise of artificial intelligence (AI) projects in the management consulting field
Opportunities:
The increased focus on technology advisory, and adoption of value-oriented revenue model and others.
Key Target Audience
Management Consulting Service Providers, Government and research organizations, Government Regulatory Bodies, Private Research Organization and Others