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.
Strategy consulting is essential for the growth of companies operating in areas such as business service, marketing and sales, financial management and controls, information technology, human resource, quality management, and others. Strategy consulting allows companies to maintain sustainable competitive advantage amidst a challenging business environment. Market Research Future (MRFR) in-depth report on the global strategy consulting market has projected the market to reach a valuation of USD 43.98 Bn at a CAGR 5.17% over the forecast period of 2018-2023.
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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).
Detailed Regional Analysis
Region-wise, the strategy consulting market has been segmented into Asia Pacific (APAC), Rest-of-the-World (RoW), Europe, and North America.
North America accounted for the principal share of the global market in 2013 and is likely to reach USD 16.64 Bn at a CAGR of 4.75% over the forecast period. The US is a prominent market for strategy consulting in the North American region. Competitive business environment in the region along with the clustering of major market players in the region have driven the market majorly.
Europe is the second largest strategy consulting market and is expected to expand at a CAGR of 5.47% over the forecast period. The Europe market is anticipated to reach USD 13.64 Bn by the end of 2025. Europe is following the path guided by North America and is increasingly investing in strategic consulting, which is likely to augment the growth of the market over the forecast period. The burgeoning growth of the industrial sector in APAC has attracted massive investments in the region, which provides lucrative opportunities for the growth of the strategy consulting market.
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.
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