Report ID : 10151462 |
Published Date : 21 Mar 2025 |
Report Format : PDF,PPT |
Delivery Timeline :48-72 Business Hours
Global Strategy Consulting Market Scope
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
~9% |
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Base Year Market Size (2021) |
~ USD 60.0 Billion |
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Forecast Year Market Size (2031) |
~ USD 103.0 Billion |
Global Strategy Consulting Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global strategy consulting market is estimated to garner a revenue of USD 103.0 Billion by the end of 2031 by growing at a CAGR of ~9% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 60.0 Billion in the year 2021. The growth of the market can be attributed to the growing service sector around the globe. As per the India Brand Equity Foundation, the service sector of India has contributed 53 percent to India’s Gross Value Added at current prices in the financial year 2021-2022
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Strategy Consultants work with businesses to improve their performance by providing expert advice to solve problems and encourage growth. They work with businesses across a wide range of sectors, including business strategy, finance, HR, and marketing. Moreover, strategy consultants use their business expertise to advise executives of large public or private sector organizations on methods to resolve operational problems. They are tasked with doing corporate observations around the world to help companies find the best strategies to grow profits and develop the best possible organizational structure. Therefore, a surge in the number of business professional consultants is expected to boost the growth of the global strategy consulting market. Nearly 16,000 professionals decided to launch a new consulting firm in the year 2022 in the United Kingdom.
Global Strategy Consulting Market: Growth Drivers and Challenges
Growth Drivers
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Increasing Development of New Businesses – As per the U.S. Census Bureau, business applications increased by 3.7 percent for July 2022 compared to June 2022 accounting for 425,698.
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Rising Transformation Towards Digitalization – More than 65 percent of organizations across the globe have a digital transformation or are working on one.
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Increase in Investment in Research & Development – According to the United Nations Educational, Scientific and Cultural Organization, the global spending on research & development has reached nearly USD 1.7 trillion.
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Growing Demand for Strategy Consultants– More than 55,000 organization consultants are employed currently in the United States in the year 2021.
Challenges
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Lack of Awareness Among the People Related to the Services
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High Cost of the Services
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Lack of Knowledgeable Consultants
The global strategy consulting market is segmented and analyzed for demand and supply by vertical into IT & telecommunication, healthcare, BFSI, retail, manufacturing, and others. Out of these, the manufacturing segment is anticipated to hold the largest share over the forecast period owing to the growing manufacturing sector and the rising competition for which they require regular strategies to stay ahead of other competitors. For instance, the manufacturing has a value-added of 17 percent to the GDP in the year 2021.
Global Strategy Consulting Market Regional Synopsis
Regionally, the global strategy consulting market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of the high adoption of consulting services, and the presence of major strategy consultants in the region. For instance, the number of management consultants employed in the year 2020 in the United States has increased to 734,000.
Market Segmentation
Our in-depth analysis of the global strategy consulting market includes the following segments:
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By Vertical |
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By Service |
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Key Companies Dominating the Global Strategy Consulting Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global strategy consulting market that is included in our report are Accenture PLC, Deloitte, BCG, Bain & Company, KPMG, McKinsey & Company, Booz Allen Hamilton Inc., CGI Group Inc., PwC., CSC., and others.
Global Strategy Consulting Market: Latest Developments
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January 2021: Mckinsey & Company-Experience DNA, a new innovative data analytics platform, has been announced by McKinsey & Company, to help organizations maximize the value of customer experience (CX) management and design. The platform is the first initiative that allows CX leaders to use real-time customer, operational, and financial data to make predictions about customer satisfaction, ultimately helping businesses target key customers.
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April 2022: CSC- A pilot project to create jobs for adults with autism and other diverse abilities has been launched by CSC, in collaboration with The Precisionists Inc., (TPI), a national organization focused on employment for adults with disabilities. The project will utilize the talents of TPI’s neurodiverse workforce to address critical business needs for CSC’s Business License Team.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.
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