“Global Strategy Consulting Market to reach a market value of USD 94.2 Billion by 2031 growing at a CAGR of 11.3%”
The Global Strategy Consulting Market size is expected to reach $94.2 billion by 2031, rising at a market growth of 11.3% CAGR during the forecast period.
Asia Pacific is one of the fastest-growing economic regions, with countries like China, India, and Southeast Asian nations experiencing robust economic expansion. Businesses in the region are keen on leveraging growth opportunities, entering new markets, and optimizing their operations, leading to a high demand for strategic consulting. Consequently, the Asia Pacific region would acquire nearly 27% market share by 2031.
Innovations in artificial intelligence (AI), blockchain, cloud computing, and data analytics are transforming businesses' operations, creating opportunities and challenges. There are many different aspects of corporate operations that are being revolutionized by artificial intelligence, including customer service and supply chain management. Hence, technological advancements are a key driver of the market. Additionally, In an increasingly complex global economy, companies must navigate a labyrinth of regulations that vary by industry, region, and country. One of the primary challenges for companies is staying updated with the constant regulation changes. Thus, the evolving regulatory landscape is a significant driver for the market.
However, the consulting industry is notorious for its demanding work environment, often leading to high employee turnover rates. Frequent staff turnover can severely disrupt client relationships, a critical component of success in the consulting industry. Hence, high turnover rates present significant challenges for the market.
Based on service type, the market is characterized into corporate strategy, business model transformation, economic policy, mergers & acquisitions, organizational strategy, functional strategy, strategy & operations, and digital strategy. The mergers & acquisitions segment procured a 18% revenue share in the market in 2023. Mergers and acquisitions (M&A) consulting services are absolutely necessary for businesses that are looking to broaden their market presence, achieve economies of scale, and enhance their competitive edge via the formation of strategic alliances, mergers, and acquisitions.
By organization size, the market is divided into large enterprises and small & medium-sized enterprises. The small & medium-sized enterprises segment witnessed 27.2% revenue share in the market in 2023. SMEs increasingly recognize the value of strategic consulting in driving growth, improving operational efficiency, and navigating competitive landscapes. SMEs may lack the in-house expertise and resources to address complex strategic challenges.
On the basis of industry vertical, the market is classified into IT & telecom, BFSI, energy & utilities, healthcare & pharma, manufacturing, government & public sector, retail & ecommerce, and others. The government & public sector segment garnered 15.3% revenue share in the market in 2023. Governments and public institutions increasingly seek strategic consulting services to address complex policy challenges, improve public service delivery, and drive economic development.
Free Valuable Insights: Global Strategy Consulting Market size to reach USD 94.2 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 38% revenue share in the market in 2023. The region's advanced technological infrastructure and early adoption of cutting-edge technologies create a thriving industry for digital strategy consulting. Companies increasingly invest in AI, machine learning, big data analytics, and IoT, seeking strategic guidance on leveraging these technologies to enhance operations, customer engagement, and business models.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 40.5 Billion |
| Market size forecast in 2031 | USD 94.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 11.3% from 2024 to 2031 |
| Number of Pages | 275 |
| Number of Tables | 439 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Service Type, Organization Size, Industry Vertical, Region |
| Country scope |
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| Companies Included | Marsh & McLennan Companies, Inc.(Oliver Wyman, LLC ), A.T. Kearney Holdings Limited, Bain & Company, Inc., Ernst & Young Global Limited, Deloitte Touche Tohmatsu Limited, Boston Consulting Group, Pricewaterhousecoopers LLP (PwC), McKinsey & Company and Accenture PLC |
By Service Type
By Organization Size
By Industry Vertical
By Geography
This Market size is expected to reach $94.2 billion by 2031.
Rapid pace of technological advancements are driving the Market in coming years, however, High turnover rates in the consulting industry restraints the growth of the Market.
Marsh & McLennan Companies, Inc.(Oliver Wyman, LLC ), A.T. Kearney Holdings Limited, Bain & Company, Inc., Ernst & Young Global Limited, Deloitte Touche Tohmatsu Limited, Boston Consulting Group, Pricewaterhousecoopers LLP (PwC), McKinsey & Company and Accenture PLC
The expected CAGR of this Market is 11.3% from 2024 to 2031.
The Large Enterprises segment led the Market by Organization Size in 2023; thereby, achieving a market value of $67.2 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $34.8 billion by 2031.
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