Strategy Consulting Market Size, Segments, Competitors Strategy, Regional Analysis and Growth by Forecast to 2023
The need to create scalable and sustainable operations is likely to spur the strategy consulting market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A 5.24% CAGR is projected to enhance the market earning to USD 43.98 billion by 2025.
The speedily changing business models in the market are driving the need to rely on solutions of the strategy consulting market in the impending period. The high level of expertise offered by firms specializing in strategy consulting is projected to change the market in the coming period.
The necessity to sustain competitive advantage in several industry verticals is facing various supply-side challenges such as strong competition, speedily changing business models among other factors. As companies want high expertise advisory and consulting teams that offer unique capability solutions, the demand for the strategic consulting market is expected to escalate. The solutions, offered by consultants, comprise of a deep understanding of customer purchasing trends and offer a way for scalable, efficient, and sustainable operations. The onset of digital transformation has made an important impact on the strategic consulting services available globally.
The segmental assessment of the strategy consulting market is carried out on the basis of services, organization size, industry vertical, and region. Based on the regions, the strategy consulting market has been segmented into Europe, the Middle East, Asia-Pacific, North America, Africa, and South America. By the industry vertical, the strategy consulting market is segmented into healthcare, IT & telecommunication, BFSI, retail, manufacturing, and others. On the basis of services, the strategy consulting market is segmented into functional strategy, mergers & acquisitions, organizational, corporate, strategy & operations, economic policy, business model transformation, and digital strategy. By the organization size, the strategy consulting market is segmented into small & medium and large enterprises.
Detailed Regional Analysis
The regional analysis of the strategy consulting market consists of regions such as Asia Pacific, Europe, North America and the rest of the world. The North American region is responsible for the principal market value of USD 9.80 billion in 2013 with a market share of 39% and is anticipated to expand at USD16.64 billion with a CAGR of 4.75% through the duration of the forecast period. The operation consultant segment is expected to expand at USD 6.52 billion by the end of the year 2025 with a 3.26 % CAGR The European region was the next principal market estimated at USD7.50 billion in 2013; it is likely to grow at a CAGR of 5.47 % and is anticipated to touch USD 13.64 billion by 2025.
The inducement of positive regulations introduced by the governments of several countries is estimated to enhance the profits that can be gained by the market. The availability of suitable means to build robust distribution channels is estimated to characterize the future expansion of the market in the forecast period. The stability of the economic state is expected to further lend to the favorable development in the global market strength. The need to prepare for contingencies such as natural disasters, pandemics, and international trade wars is expected to allow the market a better capability to deal with the challenges. The improvement in research and development facilities and equipment is further projected to influence the growth of the market in the forecast period. The scope of development of the market shows a high growth potential that the market can achieve in the coming years. The strategic allocation and positioning of assets is expected to aid each competitor in the mart with their growth goals
The critical contenders in the strategy consulting market are The Boston Consulting Group (US), Accenture (Europe), Roland Berger LLC (Germany), PwC (UK), McKinsey & Company (US), A.T. Kearney (US), Marsh & McLennan Companies Inc. (US), Deloitte Touche Tohmatsu Limited (UK), CGI Group Inc (Canada), Bain & Company (US), and Booz Allen Hamilton Inc. (US).
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