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The strategy consulting market is estimated to grow by USD 70.08 billion at a CAGR of 17.63% between 2022 and 2027. The growth of the market depends on several factors such as the rising need for improved customer digital experience, maintaining sustainable competitive advantage, and firms employing a multi-sourcing model and providing custom-made solutions.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The rising need for improved customer digital experience is notably driving market growth. These companies are constantly under pressure to provide services that meet changing client demands while remaining competitively priced. This has prompted businesses to boost the effectiveness of their marketing campaigns and operations by educating the target audience. For businesses to make informed decisions about marketing investments, marketing automation software analyzes company-wide marketing data using facts and provides statistical alerts. The software incorporates additional resources to offer complete visibility of marketing initiatives, period effectiveness, and associated costs.
firms are driven to make significant investments in marketing automation software by their understanding of the value of customer orientation in online marketing. In order to keep current customers and draw in new ones, businesses must now manage the digital experience of their customers effectively. Additionally, customers use the Internet to keep themselves informed about the newest technology available. Before making any purchases, they read the content posted on websites to get the most recent technology updates and reviews. As a result, companies must offer their clients sophisticated digital experiences. During the forecast period, these factors will fuel the global market's expansion.
AI and automation are emerging trends in market growth. The market's growth is anticipated to be driven by the increasing demand for AI across a wide range of end-user industries. In a market that is constantly changing, AI-powered data helps the organization take quick decisions and stay one step ahead of the competition. Growth during the forecast period is likely to be fueled by the growing number of AI businesses that are emerging to meet the rising demand for strategic advice.
AI and automation are two disruptive technologies that are crucial to informatization, streamlining administrative procedures, and increasing productivity. They have gained a lot of traction in the consulting sector. The first benefit of incorporating AI technologies into consulting is that it makes it easier to collect a lot of unstructured data from different business departments like marketing, sales, and finance. For consultants and marketers to find new sources of income and create successful marketing and advertising campaign strategies, this information is essential. Second, using robotic process automation, businesses can carry out a number of tasks like creating and serving invoices, matching accepted payments to the appropriate invoices, and keeping records. As a result, the market is anticipated to grow exponentially during the forecast period.
The increasing risks related to data security and privacy are major challenges impeding market growth. An easy and affordable way to manage marketing consulting is with cloud-based marketing automation software. Hosting private data in the cloud exposes it to the public and other users. Organizations will only upload data or information to the cloud, though, if the services are dependable and secure. These firms depend more on cloud computing service providers as a result of the adoption of marketing automation software that is hosted in the cloud. Data misuse or manipulation is a possibility due to the high risk of information leakage. These problems may give rise to a number of security and legal issues involving the infrastructure of the organization, access control, risk management, auditing and logging, and regulatory and legal compliance.
The data is with the vendors during the deployment of cloud-based marketing automation solutions, which raises the risk of security breaches. The information security of end users is crucial for companies while delivering cloud infrastructure and applications. The misuse of data by IT specialists who install the software and data loss are other issues that many firms are concerned about. Therefore, during the forecast period, these factors will restrain the global market's expansion.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A.T. Kearney Inc. - The company primarily supports a wide range of needs such as analytical needs, procurement, and many more. The key offerings of the company include technology for IT hubs.
Boston Consulting Group Inc. - The company works closely with clients to embrace a transformational approach aimed at benefiting all stakeholders, empowering organizations to grow, building sustainable competitive advantage, and driving positive societal impact. The key offerings of the company include consulting for corporate and IT businesses.
We also have detailed analyses of the market’s competitive landscape and offer information on 15 market companies, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis. Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The large enterprise segment will contribute a major share of the market. The segment showed a gradual increase in market share with USD 19.57 billion in 2017 and continued to grow by 2021. Large businesses can benefit from this by looking at problems from fresh angles, learning new approaches to problems, and gaining a competitive edge.
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Many businesses, including McKinsey and Company, Bain and Company, and AT Kearney, assist large businesses in formulating their strategies. These companies offer businesses cutting-edge business services that support the creation of profitable and sustainable competitive advantage. Firms that specialize in this help their clients create solid corporate and business unit strategies while fostering alignment throughout the organization. Additionally, these businesses offer sector-specific consulting for key strategic issues like market analysis, scenario planning, alliance management, and the design of the strategic planning process. Therefore, the growth of the large enterprise segment during the forecast period will be influenced by the availability of such services for large enterprises.
In the type segment of the global market in 2022, business strategy consulting commanded the largest market share. A business strategy consultant works closely with a company's management and board of directors to provide strategic, unbiased advice for a range of business decisions and goals. These consultants are needed across a range of sectors, including healthcare, IT, banking, financial services, and insurance (BFSI). A strategic consultant's job, for instance, in the healthcare industry is to identify problems and recommend solutions. These services are provided by a number of different companies, including McKinsey and Company, Boston Consulting Group (BCG), Bain and Company, Kearney, Oliver Wyman, Roland Berger, LEK Consulting, and Monitor Deloitte. Thus, the segment is expected to grow during the forecast period.
North America is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
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Business analysis tools have emerged as a result of the expansion of new research firms and the accessibility of various databases. This enables businesses to gather useful data that can be put to use at a fraction of the price strategy consultants would charge. The local market may experience significant disruption as a result. Nevertheless, strategy consultancies continue to have a market niche because most Fortune 500 companies still choose to work with a strategy consultancy firm rather than a market research firm due to the former's credibility and the latter's ability to serve as a one-stop shop for all of their consulting requirements, from marketing consulting to legal consulting.
The widespread use of Software as a service (SaaS) provided by firms is also facilitated by the simplicity of virtualization, dynamic scaling, and administrative task automation. The advantages of SaaS have boosted their adoption in a number of North American industries, including BFSI, manufacturing, retail, and government, acting as a one-stop shop for numerous businesses. However, SaaS adoption in the BFSI sector is most prevalent in North America. Various businesses and organizations in this region are adopting SaaS solutions suggested by firms as a result of digitalization. Such factors are expected to further drive the market during the forecast period.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market focuses on helping organizations improve profitability and achieve long-term objectives through strategic planning. Consultants work closely with staff to optimize operations, balancing short-term goals with long-term sustainability. Both private and public sector bodies benefit from strategy consulting, especially when integrating new technologies into their operations. In the transmission lines sector, consultants provide insights into market outlook and infrastructure expenditures, particularly in HV electric network expansion.
With increasing urbanization, there's a growing need for repair and rebuilding of transmission and distribution (T&D) networks, especially in industrialized countries. This drives demand for power transmission lines and towers, creating opportunities for consultants to advise on market trends and demand. Overall, the market plays a crucial role in guiding organizations through complex challenges, ensuring they remain competitive and adaptable in a rapidly evolving landscape.
Strategy Consulting Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.63% |
Market growth 2023-2027 |
USD 70.08 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.97 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.T. Kearney Inc., Accenture Plc, Bain and Co. Inc., Booz Allen Hamilton Holding Corp., Boston Consulting Group Inc., Capgemini Service SAS, CGI Inc., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Infosys Ltd., International Business Machines Corp., KPMG International Ltd., Marsh and McLennan Companies Inc., McKinsey and Co., Oracle Corp., Roland Berger Holding GmbH, Tata Consultancy Services Ltd., The Hackett Group Inc., Ernst and Young Global Ltd., and PricewaterhouseCoopers LLP |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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