Strategy Consulting Market

Global Strategy Consulting Market Size, Share & Trends Analysis Report By Service Type, By Organization Size (Large Enterprises and Small & Medium-sized Enterprises), By Industry Vertical, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23482 Publication Date: July-2024 Number of Pages: 275
2023
USD 40.5 Billion
2031
USD 94.2 Billion
CAGR
11.3%
Historical Data
2020 to 2022

Market Report Description

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.

Strategy Consulting Market Size - Global Opportunities and Trends Analysis Report 2020-2031

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.

Driving and Restraining Factors
Strategy Consulting Market
  • Rapid pace of technological advancements
  • Regulatory and compliance requirements
  • Growing globalization and market expansion
  • High turnover rates in the consulting industry
  • Rising preference for in-house expertise
  • Rising use in talent acquisition and retention
  • Ongoing digital transformation across industries
  • Substantial budget constraints for enterprises
  • Significant legal and ethical concerns

Service Type Outlook

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.

Strategy Consulting Market Share and Industry Analysis Report 2023

Organization Size Outlook

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.

Industry Vertical Outlook

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

Regional Outlook

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.

Strategy Consulting Market Report Coverage
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
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
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
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List of Key Companies Profiled

  • 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
  • Accenture PLC

Strategy Consulting Market Report Segmentation

By Service Type

  • Corporate Strategy
  • Business Model Transformation
  • Mergers & Acquisitions
  • Economic Policy
  • Organizational Strategy
  • Strategy & Operations
  • Functional Strategy
  • Digital Strategy

By Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises

By Industry Vertical

  • BFSI
  • IT & Telecom
  • Energy & Utilities
  • Manufacturing
  • Healthcare & Pharma
  • Government & Public Sector
  • Retail & Ecommerce
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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