Strategy Consulting Market Size, Share, Growth Analysis, By Service(Corporate strategy, business model transformation, economic policy, mergers & acquisitions), By End user(IT & telecommunication, healthcare, BFSI, retail), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20Q2013 | Region: Global | Published Date: April, 2024
Pages: 204 |Tables: 70 |Figures: 69

Strategy Consulting Market Insights

Global Strategy Consulting Market size was valued at USD 44.68 billion in 2022 and is poised to grow from USD 48.66 billion in 2023 to USD 96.24 billion by 2031, growing at a CAGR of 8.9% during the forecast period (2024-2031).

The global strategy consulting market has been experiencing several radical changes because of technological developments, new client needs and new business models. Strategy consulting firms have become indispensable for businesses that need help with navigating the complexities, embracing opportunities, and building a sustainable growth in today’s highly competitive market conditions. A crucial factor playing a part in the market is the speed at which digitalization is taking place in industries. Firms are turning to digital transformation for recommendations on how they can use advanced technologies, like artificial intelligence, machine learning, blockchain, and IoT to improve their operations, improve customer experience, and be innovative. Companies providing digital strategy, data analytics, and emerging technologies expertise are the most sought-after strategy consulting firms to aid organizations in digitalization exploitation. Also, globalization has broadened businesses outreach hence the companies are involved in complex cross-border operations and market dynamics. These strategy consulting firms help companies in planning international expansion strategies, new markets entry, supply chains optimization, and mitigation of geopolitical risks. Given the rising interdependence of economies there is more need for specialized advice on managing geopolitical risks, trade disputes, and regulation changes.

Another important fact is sustainability and the ESG (Environmental, Social, and Governance) factors in business strategy. As for the stakeholders, they are anxious about incorporating sustainability into their business models, dealing with climate change risks, improving corporate social responsibility and ethical practices. The strategy consulting firms adapt by providing customized services on sustainable business strategies, ESG integration, and impact investing to meet the dynamic requirements of socially responsible companies. The strategy consulting market is highly fragmented with tiers of large multinational firms, boutique consultancies, and in-house strategy teams as competitors. Established brands like McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company are the main players in the market and maintain their dominance by virtue of the global presence, deep industry knowledge and reputation for providing strategic advice. On the other hand, independent boutique firms which focus on specialist areas such as digital strategy, innovation or sustainability are emerging as an alternative by offering specialized services and agile solutions tailored to client requirements. The future of the global strategy consulting market will be shaped by the transforming digital technology, sustainability imperatives, geopolitical dynamics, and the changing expectations of clients. The consulting firms that will be able to adjust their services, be innovative, and show leadership in the forthcoming areas will be the ones to stay relevant in the ever-changing and competitive market landscape.

Market Snapshot - 2024-2031

Global Market Size

USD 44.68 billion

Largest Segment

IT & Telecommunication

Fastest Growth

Healthcare

Growth Rate

8.9% CAGR

Global Strategy Consulting Market ($ Bn)
Country Share for North America Region (%)

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Strategy Consulting Market Segmental Analysis

Global Strategy Consulting Market is segmented by service, end user, and region. Based on service, the market can be segmented into corporate strategy, business model transformation, economic policy, mergers & acquisitions, organizational strategy, functional strategy, strategy & operations, and digital strategy. Based on end user, the market is segmented into IT & telecommunication, healthcare, BFSI, retail, manufacturing and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Service

This fast-evolving environment accounted for one of the largest areas of corporate strategy in the strategy consulting market. Strategic consulting services by companies encompass helping organizations to find and implement growth opportunities, effective resource utilization, and overall competitiveness enhancement. Corporate strategy consultants are instrumental in helping companies to develop long-term strategies which align with their vision and objectives and steer them through complex market climates and capture opportunities. Out of two segments of strategy consulting market, corporate strategy takes the lead for its pivotal role in guiding organizations through transformation processes and strategic decision-making. Today's business world is dynamic and fast-changing. Companies encounter such types of challenges as technological disruptions, the changing consumer preference, and global economic instability. This has created more demand for formulating corporate strategies that will help cope with changing market dynamics in the long run. In addition, corporate strategy consulting companies leverage this expertise to assist clients looking to get into new markets, increase product range, or optimize operations. The role of consultants in providing customized solutions and in-depth knowledge, ensure that business stays ahead of competition and achieve sustainable growth. In the face of a fast-paced and complicated business environment and the requirement of strategic nimbleness, the delivery of corporate strategy consulting services is predicted to be strongly growing in the upcoming period.

Digital strategy consulting is the fastest-growing sphere of the corporate strategy. The advent of digital technologies and with the fact that decision making is becoming more and more data driven, the organizations across the world are focusing on the transformation initiatives towards digital to drive innovation, improve customer experiences as well as to unlock new revenue streams. The digital strategy consulting companies are the ones that help companies to use digitalization as a competitive edge through technology utilization. The digital strategy segment is enjoying great growth as businesses get to recognize that the need to embrace digital invention is a sine qua non to be relevant and resilient in this digital economy. Consulting firms that specialize in digital strategy can provide expertise in domains like digital marketing and e-commerce, data analytics, cybersecurity as well as on emerging technologies such as AI and blockchain. Through collaboration with digital strategy consultants, organizations create flexible digital strategies, efficient scaling, and maximize digital opportunities.

Analysis by End User

Among the customers, IT & telecommunication sector is the largest customer of strategy consulting services. The fast rate at which technology innovates and digital transformation takes place in this industry requires a constant strategic adjustment to be able to remain on the edge. IT and telecommunication firms face complex challenges like cybersecurity risks, cloud adoption strategies, digitalization of services, and improving customers’ experience with the help of innovative technologies, and consulting firms play a vital role in helping them to overcome these difficulties. Consequently, the demand for strategy consulting services within this field stays consistently high which in the aggregate accounts for a significant part of the overall market size.

However, the healthcare sector is one of the fastest areas in the strategy consulting services to grow. The sector is undergoing a radical paradigm shift led by factors including an aging population, growing healthcare costs, technological advancements in medicine, and the adoption of patient-centric models of care. Consulting companies specialized in healthcare strategy help organizations face these changes by creating fresh strategies for delivery of healthcare services, making use of data analytics for better outcomes, improving operational effectiveness, and ensuring adherence to regulations. Healthcare systems are now fully digitalized, and the shift towards preventive and personalized medicine is ongoing, bringing about rapid growth in the demand for strategic advisory services. These are among the most promising segments for consulting firms looking for expansion opportunities.

Global Strategy Consulting Market By End User

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Strategy Consulting Market Regional Insights

The global strategy consulting market has been experiencing steady growth, mainly due to the intensifying demand for the niche advisory services across all the industries. The leading regions in the global strategy consulting arena are North America. The region offers a strong economy, well-established business infrastructure and a concentration on innovation and technology adoption. Major consulting firms such as McKinsey & Co., BCG, and Bain & Co., among others, have become established and well-known in this area, offering solutions to the varying needs of clients ranging from Fortune 500 companies to small startups. The stronghold of North America in the international strategy consulting industry is further consolidated by its position as the centre of the financial sector, healthcare, technology and other crucial sectors that are perpetually in need of strategic consulting to overcome multi-dimensional problems as well as to tap into emerging opportunities.

At the same time, the Asia-Pacific region is becoming the fastest-developing in the global strategy consulting market. In the wake of the fast-paced economic advancement, the upsurge in investments in infrastructure and the rise of the entrepreneurial ecosystem in nations like China, India and the Southeast Asian countries result in the increase of the demand for strategic advisory services. The rapid intrusion of digital technologies combined with changing consumer behaviours and regulations brings both opportunities and challenges for the region’s businesses. Hence, Asia-Pacific region is seeing an increasing presence of global consulting firms seeking opportunities in this market. Moreover, the region's dynamic and versatile business environment affords consulting firms plenty of possibilities of providing customized solutions from market entry strategies, digital transformations, supply chain optimizations to sustainability initiatives.

Global Strategy Consulting Market By Region
  • Largest
  • Fastest

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Strategy Consulting Market Dynamics

Drivers

Digital Transformation and Technological Advancements

  • The main engine behind the rapid development of strategy consulting industry is the rapid pace of digital transformation in a wide variety of industries. Companies nowadays are rapidly adopting the latest technologies like artificial intelligence, big data analytics, cloud computing, IoT, to improve the operational efficiency, streamline the processes and gain competitive advantages. For this reason, the external expertise is required to successfully overcome the complexities of digitalization, which often leads to the rising demand for consulting services. Strategy consultants serve as a game changer in the process of organizations in developing and implementing digital strategies, exploring growth prospects, addressing risks, and responding to the challenges of technological disruptions. As firms are in a race to stay ahead in the digital realm, the need for consulting expertise to fully leverage the benefits of technology will remain strong, thereby attracting growth in this market.

Globalization and Market Expansion

  • The inexorable process of globalization has intensified the competition and made the business environment more complicated with a diverse market environment, regulatory framework, and cultural diversity. Today, companies are aggressively looking for opportunities in foreign markets to fuel their growth and expand on the international scene. However, growing into new geographies requires well planned and strategized approaches together with market information that mitigates risks and opportunities for growth. Strategy consulting companies offer useful advice for market analysis, entry strategy, mergers and acquisitions, and risk assessment, which help companies overcome cross-border obstacles well. Moreover, as the economies of the developing countries increase their influence in the global marketplace, there is more demand for consulting services to harness the opportunities in these high-potential regions. The deepening of globalization is likely going to accelerate the need of strategy consulting, which will in turn promote the market.

Restraints

Cost Constraints and Budgetary Pressures

  • Cost considerations are a significant impediment to many organizations despite the obvious advantages of strategy consulting services particularly SMEs and startups. Consulting fees can be quite expensive, and all companies may not have financial resources to engage the best of consulting firms for their strategic issues. Also, during such times of economic uncertainty or downturns businesses encounter budgetary constraints and they are forced to cut their expenses which include consulting services as they are non-essential. Furthermore, some organizations may see consulting fee as an extra expense rather than an investment, particularly in the case where consulting results are not readily visible. As such, cost concerns and fiscal constraints will determine the development of the strategy consulting market, in the segments with price-sensitive clients.

In-House Capabilities and Competency Development

  • A limitation to the strategy consulting market is the increasing demand for building internal strategic capabilities in the organizations themselves. As the business sector considers agility and innovation as a strategic issue, many of them are investing in building internal talent pools and capabilities to handle strategic challenges independently. This trend is accentuated by the advancement of digital tools and analytics that companies can now use to gather market insights and strategic framework on their own. While the consultancy companies provide external expertise and specialized knowledge, the other organizations choose to use internal resources to maintain the control over strategic decision-making processes and to develop the culture of innovation within the team. Therefore, the presence of in-house strategy teams and competency development trend creates complications for consulting firms in terms of maintaining growth and differentiating their products that can compete on the market.

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Strategy Consulting Market Competitive Landscape

In the global 3D Printing military market, there are several significant players fighting for supremacy over the market share and to maintain their market positions. Powerful corporations shape the market with their abundant product lines, good technological experience and manoeuvring with armed organizations. These firms have a continuous process of research and development which is aimed at bettering their additive manufacturing and offer specific solutions based on the individual needs of the defence sector. Furthermore, interactions with defence firms, government agencies, and research institutes that work closely together contribute greatly on the growth of their market power and customer base. The new entrants in the market, such as Markforged, Desktop Metal, and HP Inc., that utilize the advancements in additive manufacturing technologies are also succeeding by trying to fulfil the demand within markets for Strategy Consulting. The main trends that contribute to this market are high competition and continuous technological upgrades in the global Strategy Consulting market.

Top Player’s Company Profiles

  • KPMG Advisory (Netherlands)
  • Infosys Consulting (U.K.)
  • Ernst & Young Advisory (U.K.)
  • Bain & Company (U.S.)
  • Cognizant Technology Solutions (U.S.)
  • PricewaterhouseCoopers Advisory (U.K.)
  • Deloitte Consulting (U.K.)
  • Capgemini Consulting (France)
  • IBM Global Services (U.S.)
  • CGI Group (Canada)
  • Boston Consulting Group (U.S.)
  • McKinsey & Company (U.K.)
  • Accenture Consulting (Ireland)
  • Tata Consultancy Services

Recent Developments

  • In June 2022, In Tenerife, Canary Islands, a hotel has been undergoing a strategic advice from the NuGene International, Inc./Livento Group LLC, according to a press release. The firm will be responsible for the building's overall strategy, refinancing the bank, and property improvement advice. Tenerife is one of the islands in the Spanish archipelago of the Canaries, and it is visited by millions of people annually due to its beauty.
  • In June 2022, Acclime, active in 10 relevant Asian jurisdictions and the leading regional corporate service provider, acquired Concept International Business Consulting, a renowned corporate services firm. As Wodehouse Capital was India’s strategic advisor for this deal, both the deal and the choice of the right partner became quicker and simpler.
  • In October 2022, Boston Consulting Group proclaimed the opening of BCG Inverto in Italy. Milan will be the base for Inverto as BCG is working from 6,000 square meters office. Besides, this launch will allow the firm to expand its operation to the whole of Europe.
  • In September 2022, Weaver unveiled its new asset management consulting services team as part of the internal audit, compliance, risk, and management consulting services rendition. The team together with asset managers and investment advisors will seek to resolve complex client regulatory compliance requirements.
  • In March 2021, PwC enlarges its Advisory business in Luxembourg by launched Strategy &, its global business in Strategy consulting and by admitting a new partner. PwC in partnership with Strategy & in Luxembourg supported by newly appointed Advisory Partner - Andrew McDowell. As for the strategic competence, it is going to be based on sustainability.

Strategy Consulting Key Market Trends

  • Focus on Sustainability and ESG Strategies: Sustainability and ESG initiatives are getting more and more attention as the one of the most important tendencies of the strategy consulting market. In the face of increasingly heightened pressure from shareholders, clients and regulators to respond to environmental and social issues, the demand for strategic advice that involves integrating sustainability into core business practices is on the rise. Strategy consulting companies are helping organizations create detailed ESG roadmaps, set sustainability objectives, monitor progress, and improve reporting processes. In addition to this, the upward trend of sustainable investing and the inclusion of ESG criteria into investment decision-making has driven companies to consult experts to align their business models with sustainable practices, manage reputational risks and take advantage of emerging green economy opportunities. As a result, the incorporation of sustainability and ESG into corporate strategies is one of the primary trends in the strategy consultation market.
  • Shift Towards Industry-Specific Expertise: Among the other main trends in the strategies consulting market is a growing request for industry-specific knowledge and customized solutions. In current highly specialized and niche markets, it becomes increasingly obvious that sector-specific information and knowledge are vital for the strategic decision-making process. Consulting firms meet this trend by broadening their industry practices and building deep domain expertise in various sectors, including healthcare, technology, financial services, energy and consumer goods. Through providing specialized consulting services specifically focused on the unique issues and prospects within specific industries, consulting firms can be able to add more value to their clients and distinguish themselves in a highly competitive market environment. Furthermore, in the face of the industry transformations resulting from disruptions of technology, regulatory changes and changes in consumer demands, the necessity of consultants with deep industry knowledge to offer strategic guidance becomes paramount. As a result, the future of strategy consulting will be likely shaped by increasing specialization in the industry-specific expertise, providing highly tailored services to meet the ever-changing needs of clients with different business backgrounds.

Strategy Consulting Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global Strategy Consulting market analysis, market is remains dynamic and highly competitive, consisting of many prominent firms and the new players. Key influencing growth in this sector include expanded market landscape, new technology, and globalization. Increasing demand for strategic advice is the other factor. We keep on observing strong demand from several industries such as healthcare, finance, technology, consumer goods and more. Consultants are hired by businesses to come up with ways to deal with the complex issues of digital transformation, market expansion, mergers and acquisitions and sustainability initiatives. In addition, the COVID-19 pandemic has led organizations to re-evaluate their strategies, that contributes to the higher demand for consulting. Consequently, the adoption of data analytics and artificial intelligence by consultants has resulted in the provision of more data-driven insights and predictive analysis, increasing their value proposition. On the other hand, the industry encounters issues like reduced pricing, intense competition from in-house consulting teams and the need to keep up with the changing trends. In response, consultancies are broadening their service portfolio, leveraging more sophisticated technologies, and strengthening their overseas presence through strategic alliances and takeovers.

Report Metric Details
Market size value in 2022 USD 44.68 billion
Market size value in 2031 USD 96.24 billion
Growth Rate 8.9%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Service
    • Corporate strategy, business model transformation, economic policy, mergers & acquisitions, organizational strategy, functional strategy, strategy & operations, and digital strategy
  • End user
    • IT & telecommunication, healthcare, BFSI, retail, manufacturing and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • KPMG Advisory (Netherlands)
  • Infosys Consulting (U.K.)
  • Ernst & Young Advisory (U.K.)
  • Bain & Company (U.S.)
  • Cognizant Technology Solutions (U.S.)
  • PricewaterhouseCoopers Advisory (U.K.)
  • Deloitte Consulting (U.K.)
  • Capgemini Consulting (France)
  • IBM Global Services (U.S.)
  • CGI Group (Canada)
  • Boston Consulting Group (U.S.)
  • McKinsey & Company (U.K.)
  • Accenture Consulting (Ireland)
  • Tata Consultancy Services
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Strategy Consulting Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Strategy Consulting Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Strategy Consulting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Strategy Consulting Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Strategy Consulting Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Strategy Consulting Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Strategy Consulting Market size was valued at USD 44.68 billion in 2022 and is poised to grow from USD 48.66 billion in 2023 to USD 96.24 billion by 2031, growing at a CAGR of 8.9% during the forecast period (2024-2031).

In the 3D Printing military market, there are several significant players fighting for supremacy over the market share and to maintain their market positions. Powerful corporations shape the market with their abundant product lines, good technological experience and manoeuvring with armed organizations. These firms have a continuous process of research and development which is aimed at bettering their additive manufacturing and offer specific solutions based on the individual needs of the defence sector. Furthermore, interactions with defence firms, government agencies, and research institutes that work closely together contribute greatly on the growth of their market power and customer base. The new entrants in the market, such as Markforged, Desktop Metal, and HP Inc., that utilize the advancements in additive manufacturing technologies are also succeeding by trying to fulfil the demand within markets for Strategy Consulting. The main trends that contribute to this market are high competition and continuous technological upgrades in the Strategy Consulting market. 'KPMG Advisory (Netherlands)', 'Infosys Consulting (U.K.)', 'Ernst & Young Advisory (U.K.)', 'Bain & Company (U.S.)', 'Cognizant Technology Solutions (U.S.)', 'PricewaterhouseCoopers Advisory (U.K.)', 'Deloitte Consulting (U.K.)', 'Capgemini Consulting (France)', 'IBM Services (U.S.)', 'CGI Group (Canada)', 'Boston Consulting Group (U.S.)', 'McKinsey & Company (U.K.)', 'Accenture Consulting (Ireland)', 'Tata Consultancy Services'

The main engine behind the rapid development of strategy consulting industry is the rapid pace of digital transformation in a wide variety of industries. Companies nowadays are rapidly adopting the latest technologies like artificial intelligence, big data analytics, cloud computing, IoT, to improve the operational efficiency, streamline the processes and gain competitive advantages. For this reason, the external expertise is required to successfully overcome the complexities of digitalization, which often leads to the rising demand for consulting services. Strategy consultants serve as a game changer in the process of organizations in developing and implementing digital strategies, exploring growth prospects, addressing risks, and responding to the challenges of technological disruptions. As firms are in a race to stay ahead in the digital realm, the need for consulting expertise to fully leverage the benefits of technology will remain strong, thereby attracting growth in this market.

Focus on Sustainability and ESG Strategies: Sustainability and ESG initiatives are getting more and more attention as the one of the most important tendencies of the strategy consulting market. In the face of increasingly heightened pressure from shareholders, clients and regulators to respond to environmental and social issues, the demand for strategic advice that involves integrating sustainability into core business practices is on the rise. Strategy consulting companies are helping organizations create detailed ESG roadmaps, set sustainability objectives, monitor progress, and improve reporting processes. In addition to this, the upward trend of sustainable investing and the inclusion of ESG criteria into investment decision-making has driven companies to consult experts to align their business models with sustainable practices, manage reputational risks and take advantage of emerging green economy opportunities. As a result, the incorporation of sustainability and ESG into corporate strategies is one of the primary trends in the strategy consultation market.

The strategy consulting market has been experiencing steady growth, mainly due to the intensifying demand for the niche advisory services across all the industries. The leading regions in the strategy consulting arena are North America. The region offers a strong economy, well-established business infrastructure and a concentration on innovation and technology adoption. Major consulting firms such as McKinsey & Co., BCG, and Bain & Co., among others, have become established and well-known in this area, offering solutions to the varying needs of clients ranging from Fortune 500 companies to small startups. The stronghold of North America in the international strategy consulting industry is further consolidated by its position as the centre of the financial sector, healthcare, technology and other crucial sectors that are perpetually in need of strategic consulting to overcome multi-dimensional problems as well as to tap into emerging opportunities.

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Strategy Consulting Market

Report ID: SQMIG20Q2013

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