Strategy Consulting Market Emerging Trends, Business Opportunities and Growth Analysis to 2027

 

Market Highlights

Strategy consulting is essential for the growth of companies operating in areas such as business service, marketing and sales, financial management and controls, information technology, human resource, quality management, and others. Strategy consulting allows companies to maintain sustainable competitive advantage amidst a challenging business environment. Market Research Future (MRFR) in-depth report on the global strategy consulting market has projected the market to reach a valuation of USD 43.98 Bn at a CAGR 5.17% over the forecast period of 2018-2023.

Organizations in all industry verticals are facing numerous supply-side challenges, such as extreme competition and fast-changing business models. In recent years, companies in the e-commerce market, such as Amazon, Alibaba, e-Bay, and Flipkart, have been facing global and regional competition. In addition, rapidly evolving customer buying habits have also increased market competition. As a result, businesses need highly specialized advisory and consulting teams that provide unique capability solutions. These solutions, given by consultants, provide a deep understanding of consumer buying habits and provide a way for effective, flexible, and sustainable operations. The collaborative approach of consulting firms helps companies retain an advantage over rivals through their domain expertise, offering companies effective solutions to complex business problems. For example, PricewaterhouseCoopers (PwC), an internationally respected consulting firm, has collaborated with Amazon Web Services to offer distinctive capabilities such as retail interface design, customer relationship management, and advanced technological innovation. This partnership has helped Amazon proactively manage market changes that have driven it to restructure its business models and offer operational excellence.

Market Dynamics

The need for strategic planning in a highly competitive market ecosystem and the need to build business capabilities to meet and exceed changing requirements are surging the growth of the strategy consulting market, although the rapid development of new business models at a high pace than the conventional companies structure serve as one of the growth factors for the strategy consulting market. Driving factors such as increasing expertise across business sectors that drive consultancy needs and gain competitive advantage, and increasing regional business diversity demand for competent consultation and execution, are expected to have a significant effect on the development of the consulting strategy market in the coming years.

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Segmentation:

The strategy consulting market has been segmented based on application and product.

By product, the strategy consulting market has been segmented into operation consultant, business strategy consulting, and investment consultant. The operation consultant segment is likely to lead the market over the forecast period and reach USD 16.67 Bn at a CAGR of 3.93% over the forecast period. The business strategy consulting segment is expected to register the highest CAGR of 6.04% over the forecast period.

By application, the strategy consulting market has been segmented into chemical sector, financial sector, and automotive sector. The financial segment is likely to command the largest share of the market over the forecast period. The automotive sector segment is expected to be the fastest growing segment and expand at a CAGR of 6.54% over the forecast period.

Regional Analysis

Regionally, the global strategy consulting market has been segmented into the Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

North America is predicted to dominate the strategy consulting market and maintain its role throughout the forecast period. Early adoption of technology and increased investment in sustainable development programs by companies and the existence of a highly skilled workforce are driving the growth of this sector. In 2018, the US accounted for about 20 % of the global market share.

The Asia Pacific is estimated to be the fastest-growing region in the forecast period. Emerging economies like China, Japan, and India are rising faster, leading to market growth in the Asia Pacific. Furthermore, the accelerated adoption of customer-centric consulting services is also expected to accelerate the market's growth in this area.

Key Players

The industry giants in the global strategy consulting market are McKinsey & Company (US), Roland Berger LLC (Germany), The Boston Consulting Group (US), Bain & Company (US), Marsh & McLennan Companies Inc. (US), Deloitte Touche Tohmatsu Limited (UK), PwC (UK), Accenture (Europe), CGI Group Inc (Canada), A.T. Kearney (US), and Booz Allen Hamilton Inc. (US).

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Strategy Consulting Market Research Report: Information by Services ( Mergers & Acquisitions, Corporate Strategy, Business Model Transformation, Economic Policy, Organisational Strategy, Functional Strategy, Strategy & Operations and Digital Strategy), Organization Size (Large Enterprise and Small & Medium Enterprise), Industry Vertical (IT & telecommunication, Healthcare, BFSI, Retail, Manufacturing and others) and Region [North America (US, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, Singapore, South Korea, Rest of Asia-Pacific and India), the Middle East & Africa and South America] - Forecast till 2025

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