New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Strategy consulting market Research Report: Insights by Vertical, Service, Region and Organization Size – Forecast To 2030, the market is expected to acquire a valuation of approximately $63,246.1 million by the end of 2030. Reports further predict that the market will thrive at a robust CAGR of over 5.7% during the assessment period.
Overview of the strategy consulting market:
Strategy consulting is also a meeting room or strategic consulting. This type of consulting is done to inform companies on high level decisions in an objective manner and uses in-depth knowledge of the particular industry to be able to deliver the best results. Various consultants consider strategic consulting to be one of the leading consulting services in the professional services industry. This type of consulting focuses on the development of functional or business organizational strategies. The strategy consulting market has various beneficial aspects such as growing competition among businesses and growing need for strategic business planning.
Strategy Consulting Market Competitive Analysis
The list of prominent players in the global strategy consulting market includes companies such as:
- Booz Allen Hamilton Inc.
- McKinsey & Company
- Deloitte Touche Tomatsu Limited
- Boston Consulting Group
- Bath & Company Inc.
- PricewaterhouseCoopers (PwC) (Booz & Co.)
- CGI Inc.
- Ernst & Young Ltd.
- Roland Berger Sàrl
- KPMG International Cooperative (KPMG)
- Marsh & McLennan Companies Inc. (Oliver Wyman)
- Mercer, LLC
- The Hackett Group, Inc.
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The global strategic consulting market has grown in recent years. The main parameter supporting the growth of the market is the strategic planning required to increase productivity and prevent high potential losses. Furthermore, the requirement to develop business capabilities to meet and exceed ever-changing requirements is driving the growth of the global strategic consulting market in the age of assessment. On the other hand, aspects such as lack of awareness and cost of service may limit the market growth.
Scope of Strategy Consulting Market Report:
|Revenue forecasts in 2030||$63,246.1 million|
|CAGR||CAGR of 5.7% from 2022 to 2030|
|Key market opportunities||Integration of technologies with consulting services|
|Key Market Drivers||Growing Need for Competitive Advantage o Digital Transformation Drives Consulting Services Growth|
Browse the in-depth market research report (122 pages) on the strategy consulting market:
Covered USP market
The global strategy consulting market has grown recently, given the growing demands for competitive advantage and the integration of technologies into consulting services.
Constraints of the strategy consulting market
On the other hand, the lack of experts can limit the growth of the market.
Impact of COVID-19
The global health crisis in the form of COVID-19 has had a massive impact on the majority of industrial sectors across the globe. Travel restrictions and social distancing norms imposed by governments around the world have resulted in massive disruptions to supply chain networks for the majority of markets. Unlike other markets, the global strategy consulting market has seen positive growth during the pandemic. On the other hand, with the return to normal of all financial and industrial activities, the global strategy consulting market should experience strong growth in the years to come.
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Strategy Consulting Market Segment Analysis
Among all the services, the strategy and operations segment is expected to secure the top spot in the global strategy consulting market during the review period. The main aspect supporting the growth of the segment is the use of conventional and digital approaches to reduce operational expenses and improve productivity. In addition, the increasing number of acquisitions and mergers in various sectors also demands more reliable business operations and ways to integrate or implement business strategies between companies.
Based on the size of organizations, the SME segment is expected to secure the top spot in the global strategy consulting market during the review period. The growth of the segment is attributed mainly to the need to understand the scarcity of capital for expansion. Furthermore, the growing focus on managerial and productivist training may favor the strategy consulting market.
Among all industry verticals, the IT & Telecom segment is expected to dominate the global strategy consulting market in the era of assessment. The central axis of the segment’s growth is the fight for customers and the convergence of mobile and fixed services. Additionally, the demand for online sales across various industry verticals creates various challenges for companies to shift their sales channel model, which is also expected to influence the growth of the segment over the review period. This is driving the adoption of strategy consulting in various markets and catalyzing the growth of the segment over the next few years.
Strategy Consulting Market Regional Analysis
The global strategic consulting market is analyzed on five major regions: South America, Middle East & Africa, Europe, North America and Asia-Pacific.
Research reports from MRFR suggest that the North American region will dominate the global strategic consulting market during the review period. The presence of prominent leaders in the region is the main aspect supporting the growth of the regional market. The regional market secured the top spot in the global market in 2021. The report further predicts that the market will boom significantly over the assessment period with a healthy CAGR of over 5.3%. The volatile market in the US economy, along with the current changes in government regulations, is the major parameter catalyzing the growth of the regional market. The region is known for having top tier leaders such as BCG, Deloitte, IBM and PricewaterhouseCoopers integrating into their business models, allowing them to cater to multiple end-user areas.
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The strategy consulting market for the European region secured the second position in the global market in 2021. The regional market is expected to grow significantly over the review period at a healthy CAGR of around 5.9%. Installing outsourced management consultants in government across the UK has rarely proven difficult due to varying perceptions of value for money.
The Asia-Pacific strategy consulting market is expected to exhibit the highest growth rate over the assessment period. MRFR reports suggest that the regional market will grow significantly at the maximum CAGR of around 7.1% during the assessment period. Australia and New Zealand are among the major nations contributing to the growth of the regional strategy consulting market. Traditionally, the government has played a larger role in providing several services and infrastructure across New Zealand than in other countries. Aspects such as historical political support for the provision of government services, limited capital markets and inadequate size of the private sector are likely to drive the growth of the regional market in the coming years.
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