Management Consulting Services Market Expected to Reach $811.3 Billion By 2031: Allied Market Research
Allied Market Research
8 min read
Allied Market Research
Increase in adoption of management consulting services for reducing operational costs and optimizing operations, penetration of high-speed internet services, surge in need for automation in consulting processes are expected to drive the growth of the global management consulting services market. Drop in demand for management consulting services and reduction in workforce during the COVID-19 pandemic had a negative impact on the market.
Portland, OR, Sept. 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global management consulting services market generated $316.5 billion in 2021, and is projected to reach $811.3 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Type, Organization Size, Industry Vertical, and Region
Drivers
Increase in adoption of management consulting services for reducing operational costs and optimizing operations
Penetration of high-speed internet services
Opportunities
Surge in need for automation in consulting processes
Rise in resource spending by SMEs
Restrains
Risks related to data breaches, cyber-attacks, and intricacy of the project
COVID-19 Scenario:
The global management consulting services market experienced a negative impact due to the prevalence of lockdowns in various countries across the globe during the pandemic. This is mainly due to a drop in demand for management consulting services globally.
Reduced workforce, and supply chain challenges during the pandemic further aggravated the impact on the market.
These stern restrictions were essentially imposed by the government so as to significantly curb the spread of the virus during the pandemic.
The report offers a detailed segmentation of the global management consulting services market based on type, organization size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on type, the operations consulting segment held the dominating market share in 2021, holding more than one-fourth of the global market. On the other hand, the technology and consulting segment is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.5% during the forecast period.
Based on organization size, the large enterprises segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The small & medium-sized enterprises segment, on the other hand, is predicted to cite the fastest CAGR of 12.8% during the forecast period.
Based on industry vertical, the BFSI segment held the largest market share in 2021, garnering nearly one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare segment, on the other hand, is expected to cite the fastest CAGR of 14.6% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding more than one-third of the global market. On the other hand, the Asia-Pacific region is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.4% during the forecast period
The key players analyzed in the global management consulting services market report include A.T. Kearney, Inc., Accenture, Aon Plc, Bain & Company, Inc., Booz Allen Hamilton Inc., Boston Consulting Group, CGI Inc., Cognizant Technology Solutions, CSC Consulting Services, Deloitte, Ernst & Young, KPMG International Limited, McKinsey & Company, Mercer LLC, PwC, Strategyn LLC, and Sia Partners.
The report analyzes these key players in the global management consulting services market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the management consulting services market forecast from 2021 to 2031 to identify the prevailing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities of management consulting services market overview.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the management consulting services market segmentation assists in determining the prevailing management consulting services market opportunity.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global management consulting services market trends, key players, market segments, application areas, and market growth strategies.
Management Consulting Services Market Key Segments: By Type:
Strategy Consulting
Operations Consulting
Financial Advisory
Financial Advisory
Corporate Finance
Accounting Advisory
Tax Advisory
Transaction Services
Risk Management
Others
Technology Consulting
Human Resources Consulting
By Organization Size:
Large Enterprises
Small & Medium-Sized Enterprises
By Industry Vertical:
BFSI
IT and Telecom
Manufacturing
Retail and E-Commerce
Public Sector
Healthcare
Others
By Region:
North America (U.S., Canada, and Mexico)
Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
