New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Operations Advisory Global Market Report 2023" - https://www.reportlinker.com/p04442221/?utm_source=GNW
, PricewaterhouseCoopers, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, OCG Consultancy, Riveron Consultancy, Oliver Wyman Inc., Marsh & McLennan Companies Inc., and Willis Towers Watson Public Limited.
The global operations advisory market is expected to grow from $270.99 billion in 2022 to $281.92 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The operations advisory market is expected to reach $316.00 billion in 2027 at a CAGR of 2.9%.
The operations advisory market includes revenues earned by entities by providing advisory and assistance such as legal operations advisory and technical advisory for improving the operational performances of various companies.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Operations advisory refers to the process of enhancing the effectiveness of the entire value chain by creating and putting into practice goal operational and service delivery models, carrying out cost-cutting initiatives, and streamlining business procedures.
North America was the largest region in the strategy advisory market in 2022.Western Europe was the second-largest region in the strategy advisory market.
The regions covered in the strategy advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main operations advisory product types are financial advisory, technology advisory, strategy advisory, HR (human resource) advisory, and manufacturing.Financial advisory refers to a group of knowledgeable experts who offer guidance on effective money and asset management.
Financial advisory is used in operations advisory for managing working capital. The various enterprise size are large enterprises, and small and medium enterprises that are segmented into aerospace and defense, BFSI (banking, financial services, and insurance), healthcare, IT (information technology) and telecom, construction and mining, automotive, entertainment and media, chemicals and materials, consumer goods, durables, and retail, semiconductor and electronics manufacturing, and others.
The increased number of startups is significantly contributing to the growth of the operations advisory market going forward.Startups refer to an early-stage entrepreneurial initiative that is often developed to address problems in the actual world.
Operations advisory is employed by startups to gain assistance in developing a business structure that can cope with the growth of the company and adapt to various market situations. For instance, according to the US Small Business Administration, a US-based agency of the United States government that provides support to entrepreneurs and small businesses, there were 33.2 million startups in the USA in 2022, which increased by 700,000 compared to 2021. Therefore, an increased number of startups will drive the operations advisory market.
Technological advancements are the key trend gaining popularity in the operations advisory market.Major companies operating in the operations advisory market are focusing on integrating technology with operations advisory practices to gain a competitive edge in the market.
For instance, in March 2023, FTI Consulting, a US-based management consulting company that also provides operations advisory services partnered with NetDocuments, a US-based cloud document, email, and records management service provider to launch a technology platform to provide clients with more flexible and integrated native cloud-based solutions for core legal department functions, such as document and content management. Every stage of the legal operations journey, from assessment and recommendation through implementation and measurement, is covered by the firm’s advising, services, and technology capabilities.
In October 2020, Accenture, an Ireland-based consulting firm acquired Myrtle Consulting Group for an undisclosed amount.The acquisition helps Accenture to expand its manufacturing and supply chain operations advisory capabilities.
Myrtle Consulting Group is a US-based industrial operations advisory firm that helps organizations improve operational performance.
The countries covered in the operations advisory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The operations advisory market research report is one of a series of new reports that provides operations advisory market statistics, including operations advisory industry global market size, regional shares, competitors with an operations advisory market share, detailed operations advisory market segments, market trends and opportunities, and any further data you may need to thrive in the operations advisory industry. This operations advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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