Dallas, Texas, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The factors that drive the global management consulting services market include easily lowering operational and maintenance costs, streamlining processes, recommending reliable technologies to your business, and developing a strategy with realistic goals. Business professionals that work as consultants for global management firms help other multinational organizations develop their cross-border operations. Global management consulting services integrates a variety of specializations, including human resources, strategic planning, information technology, marketing, and engineering, to create the finest organizational structure feasible.
The global management consulting services market was valued at $316.6 billion in 2021 and is anticipated to grow by $814.6 billion by 2031, at a CAGR of 10.6% during the prediction period.
The concept of virtual businesses is being introduced to market participants in the management consulting services industry as a result of rapid technological advancement, rising cost-cutting pressure, and growing smartphone usage. It is anticipated that a significant portion of management consulting services industry would go virtual and operate mostly online. Management consulting organizations will be able to reduce expenses and boost revenue by using contract workers, cloud-based infrastructure for the entire organization, and a minimal number of physical offices.
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The world is quickly advancing toward the process of digitalization as a result of the development of information communication and technology. Organizations are under pressure to digitize their management and procedures due to growing investor expectations, more competition, new legal requirements, and expanding prospects. Businesses, banks, and other organizations are using the IT transformation services offered by management consulting firms to address issues like increased stakeholder expectations and stagnant or shrinking budgets. These services include identifying key technologies, developing an IT agenda, and efficiently combining, establishing standards for, and coordinating IT solutions across industry divisions.
Through cutting-edge strategy, marketing, organization, operations, and technology, with the aid of digital transformation and advanced analytics, corporate finance, including mergers and acquisitions, and sustainability across emerging geographies and industries, management consulting services concentrate on the clients' most important issues and opportunities. This results in the delivery of deep, functional expertise and an all-encompassing viewpoint.
Report coverage & details:
| Report Coverage | Details |
| Base Year | 2022 |
| Historical Data | 2021-2022 |
| Market Size in 2031 | USD 814.6 billion |
| CAGR | CAGR of 10.6% during 2021-2031 |
| Segment Covered | Service Line, Industry, Other Industries, Solutions, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Ernst & Young, PriceWaterhouseCoopers (PwC), Accenture, KPMG Consulting, McKinsey & Company, IBM Services, Affiliated Computer Services (ACS), Booz Allen Hamilton, Bain & Company, Aon Consulting, CA Technologies, Buck Consultants, Deloitte Consulting, Computer Sciences Corporation (CSC), Grant Thornton LLP and Gartner |
Based on the type, the strategy advisory segment is likely to grow at a momentous rate. A business coach who reviews your company's goals, advantages, and objectives and helps you understand the course you should take is a strategy and business consultant, whereas operational consultants use data and research to help businesses streamline processes and improve operational performance. An adviser can start making recommendations for improving particular operational tasks once they have a solid understanding of how things are going.
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Due to the existence of some of the most prominent consulting companies that serve a diverse variety of end-user verticals in North America, this region is the most attractive market. Additionally, because of the always-changing regulatory environment and the very erratic US economy, businesses in the area are involved in management consulting services to help with their financial operations.
For instance, NTIS and Booz Allen will work in October 2019 to promote government data priorities, foster economic growth, and enable operational excellence with the goal of offering cutting-edge data services to several government agencies through partnerships with the private sector.
Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Management Consulting Services Market Overview, By Service Line
4.1. Global management consulting services market share, by service line, 2018 & 2025
4.2. Strategy/Operations
4.2.1. Market size and projections, 2017 - 2025
4.3. Transactions
4.3.1. Market size and projections, 2017 – 2025
4.4. General Business Consulting
4.4.1. Market size and projections, 2017 – 2025
Chapter 5. Management Consulting Services Market Overview, By Industry
5.1. Global management consulting services market share, by Industry, 2017 & 2025
5.2. Financial Services
5.2.1. Market size and projections, 2017 – 2025
5.3. Healthcare & Life sciences
5.3.1. Market size and projections, 2017 – 2025
5.4. Energy
5.4.1. Market size and projections, 2017 – 2025
5.5. Public Sector
5.5.1. Market size and projections, 2017 – 2025
5.6. Technology
5.6.1. Market size and projections, 2017 – 2025
5.7. Media
5.7.1. Market size and projections, 2017 – 2025
5.8. Communications
5.8.1. Market size and projections, 2017 – 2025
5.9. Others
5.9.1. Market size and projections, 2017 – 2025
Chapter 6. Management Consulting Services Market Overview, By Other Industries
6.1. Global management consulting services market share, by other industries, 2017 & 2025
6.2. Construction
6.2.1. Market size and projections, 2017 – 2025
6.3. Real Estate
6.3.1. Market size and projections, 2017 – 2025
6.4. Hospitality
6.4.1. Market size and projections, 2017 – 2025
6.5. Private Equity
6.5.1. Market size and projections, 2017 – 2025
6.6. Consumerial Industry Products
6.6.1. Market size and projections, 2017 – 2025
6.7. Non-Profit
6.7.1. Market size and projections, 2017 – 2025
Chapter 7. Management Consulting Services Market Overview, By Solution
7.1. Global management consulting services market share, by solution, 2017 & 2025
7.2. Digital management consulting
7.2.1. Market size and projections, 2017 – 2025
7.3. IT Management consulting
7.3.1. Market size and projections, 2017 – 2025
7.4. Artificial Intelligence
7.4.1. Market size and projections, 2017 – 2025
7.5. Robotic process automation
7.5.1. Market size and projections, 2017 – 2025
7.6. Block chain management consulting
7.6.1. Market size and projections, 2017 – 2025
7.7. Others
7.7.1. Market size and projections, 2017 – 2025
Chapter 8. Management Consulting Services Market Overview, By Region
Chapter 9. Industry Structure
9.1. Company market share, 2016
9.2. Strategic framework
Chapter 10. Company Profiles
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