New York, Dec. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Strategy Advisory Global Market Report 2022" - https://www.reportlinker.com/p04442224/?utm_source=GNW
The global strategy advisory market is expected to grow from $134.14 billion in 2021 to $150.41 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $226.61 billion in 2026 at a CAGR of 10.8%.
The strategy advisory market consists of the sales of strategic advisory services by entities (organizations, sole traders and partnerships) the provide consulting services that aim to increase client’s revenues, profit margins, market share and competitive advantage.Clients consult strategy advisors to seek advice on developing new markets, market entry and expansion strategies and reimagining their business models.
Only goods and services traded between entities or sold to end consumers are included.
The main services of strategy advisory are corporate strategy, business model transformation, economic policy, mergers and acquisitions, organizational strategy, functional strategy, strategy and operations, and digital strategy.Corporate strategy is a one-of-a-kind, long-term plan or framework meant to achieve a competitive advantage over other market participants while meeting both customer/client and stakeholder promises (including shareholder value).
The different organization sizes include large enterprise, small and medium enterprise and are used by various industries such as IT and telecommunication, healthcare, BFSI, retail, manufacturing, and others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
During the forecast period, the increased number of startups globally will support the strategy advisory market’s growth.According to the IT industry body NASSCOM’s report, the total number of technologies startups in India has grown to 9,300 with 1,300 startups being added in the year 2019.
According to this report, investment in start-ups stood at $4.4 billion flowing between January-September in 2019. Therefore, a growing number of startups across industrial and financial sectors is expected to fuel the demand for the strategy advisory market.
The launch of artificial intelligence is gaining popularity in the strategy advisory market.As this new technology develops, many companies are increasingly thinking about integrating artificial intelligence (AI) into their operations.
For instance, the global AI market is expected to grow rapidly during the next few years, reaching a market value of $190.61 billion by 2025. AI is expected to increase at a 33.2% yearly rate between 2020 and 2027. Artificial intelligence and the future of strategic advising and its effect on consultancy firms are positive, and if harnessed correctly, artificial intelligence (AI) could significantly accentuate how these firms govern as well as the services they provide to clients.
The high cost associated with strategic advisory services is expected to limit the growth of the strategy advisory market.Different types of services and functions are offered by strategic advisory firms as an expensive package.
For instance, a typical strategy case costs between $500,000 and $1.2 million. The high-cost variances occur because of the premium that the brand commands, the length of the case, and the number of consultants required to do the work. Thus, the higher cost of hiring a strategic advisor will negatively impact the market.
In January 2019, Litmus Automation, an Industrial-Internet-of-Things (IIoT) platform provider, partnered with Boston Consulting Group (BCG), for an undisclosed amount, to offer joint IoT offerings. With this partnership with Boston Consulting Group (BCG), Litmus Automation plans to allow the customers to adopt Industry 4.0 and gather valuable, real-time data from their assets to make better business decisions. Boston Consulting Group (BCG) is a global management consulting firm and consultant on business strategy.
The countries covered in the strategy advisory market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p04442224/?utm_source=GNW
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