About Management Consulting Services
Management consulting service is an advisory or implementation services to the management of organizations with the aim of improving the effectiveness of their business strategy, organizational performance and operational processes. The management consulting service market is expected to witness a significant growth owing to increasing competence across business sectors driving the needs for consulting and gain competitive edge, and rising regional business diversities demand for skilled driven consultations and implementations
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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. Analyst at AMA Research estimates that United States and United Kingdom Manufacturers will contribute the maximum growth to Global Management Consulting Services market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Deloitte Consulting (United States), PwC (United Kingdom), EY (United Kingdom), KPMG (Netherlands), Accenture (Ireland), IBM (United States), McKinsey (United States), Booz Allen Hamilton (United States), The Boston Consulting Group (United States) and Bain & Company (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Ernst & Young Ltd. (United Kingdom) and Oliver Wyman (United States).
Segmentation Overview
AMA Research has segmented the market of Global Management Consulting Services market by Type (Operations Advisory, Strategy Advisory and HR Advisory) and Region.
On the basis of Type, Operations Advisory are dominating the market in the year 2023 where as Strategy Advisory stood as second largest market share.
On the basis of geography, the market of Management Consulting Services 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. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Company Size, the sub-segment i.e. Small and Medium Enterprise will boost the Management Consulting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. IT & telecommunication will boost the Management Consulting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological advancements and Compliance with regulations
Market Growth Drivers:
Increasing competence across business sectors and Rising shift toward process improvement and efficiency
Challenges:
Freelance consulting sector
Restraints:
In-house consulting groups
Opportunities:
Increase in demand from emerging economies such as India, China and Japan
Market Leaders and their expansionary development strategies
In May 2023, EY has acquired of whyaye ltd, a UK-based consulting services provider for the ServiceNow platform, as part of significant ongoing investments in technology consulting services.The acquisition, which will be known as EY whyaye, will support the growth of EY Technology Consulting services by expanding capacity, capabilities and market presence around the ServiceNow technology platform.
In July 2023, Atos has launched of Technology Consulting, a new portfolio of advisory services for C-suite executives, designed to enable them to best leverage existing and new technologies to achieve their business objectives. First launched in France, Germany, Belgium, the Netherlands and the UK, Technology Consulting will operate on a global scale, advising clients how to achieve concrete business outcomes. This new offering is pivotal to the transformation strategy of the Atos Tech Foundations business line.
Key Target Audience
Management consulting service providers, IT industry, Healthcare industry, Governmental bodies, Research firms and Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.