Strategy Consulting Market is Projected to Hit USD 67.6 Billion at a healthy CAGR of 5.70% by 2030 – Report by Market Research Future (MRFR)
Research Reports
Sep 12, 2023
In 2022, the Strategy Consulting Market Size was estimated to be worth USD 45.9 billion. During the projection period (2023 – 2030), the Strategy Consulting market industry is expected to increase from USD 48.5 billion in 2023 to USD 67.6 billion, registering a compound yearly growth rate (CAGR) of 5.70%. Strategic consultants, sometimes known as consultants, offer strategic consulting services, offering knowledgeable counsel on crucial choices that typically produce the best results for the company. These are the main factors promoting market expansion.
Businesses in vertical industries have been faced with a number of difficulties, including intense competition and quickly evolving business strategies. Online retailers like Amazon, Alibaba, e-Bay, Flipkart, and others have faced intense regional and international competition in recent years.
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Key Companies in the Strategy Consulting market include:
- Kearney Inc.
- Bain and Company
- Accenture PLC
- Delloite
- The Boston Consulting Group
- Booz Allen Hamilton Inc.
- Ernst & Young Ltd.
- CGI Group Inc.
Additionally, the business is experiencing more rivalry due to the quickly evolving consumer purchasing behaviours. Companies therefore want qualified consultants and consulting teams that offer distinctive solutions. These solutions promote effective, scalable, and sustainable operations and incorporate a thorough grasp of consumer purchasing trends.
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The consultancy’s collaborative approach enables businesses to use acquired domain expertise to offer efficient solutions and keep a competitive edge. For instance, the well-known consulting company PricewaterhouseCoopers (PwC) has teamed up with Amazon Web Services to offer special capabilities including retail interface design, customer relationship management, and cutting-edge technological innovation. Through this cooperation, Amazon is better able to anticipate market shifts and reorganise its business strategy for operational excellence. As a result, during the forecast period, the desire for competitive advantage is anticipated to fuel the expansion of the strategy consulting market.
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Segmentation
Mergers and Acquisitions, Corporate Strategy, Business Model Transformation, Economic Policy, and Organisational Strategy are among the segments of the Strategy Consulting market based on Services. In 2022, the corporate strategy sector controlled a large portion of the market for strategy consulting.
The Strategy Consulting market data has been divided into Large Enterprises and Small & Medium Enterprises based on size. Small and medium-sized businesses control a large portion of the market.
The Strategy Consulting industry has been divided into five sectors based on vertical: IT & communications, healthcare, BFSI, retail, and manufacturing. It is anticipated that the IT & telecommunications segment will provide a larger market share.
The report breaks down the markets by region, covering North America, Europe, Asia-Pacific, and the rest of the world. The North American Strategy Consulting market, which is projected to generate USD 21.02 billion in 2022, is anticipated to develop at a substantial CAGR. A key factor promoting the expansion of the regional market is the presence of well-known leaders in the region. In 2021, the regional market held the leading position. The report also projects that the market would expand significantly during the assessment period, with a high CAGR of over 5.3%. The key factors driving the regional market’s expansion are changes in government rules and fluctuations in the U.S. economic market.
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The second-largest market share is held by the Strategy Consulting market in Europe. The primary driver of the market is anticipated to be the growing demand for customers to have a better digital experience. From 2022 to 2030, the Asia-Pacific Strategy Consulting Market is anticipated to experience the quickest CAGR growth. The Asia Pacific area is anticipated to experience considerable growth over the course of the forecast period as a consequence of the region’s growing emphasis on technological consulting, which is projected to increase manufacturing industry automation and fuel regional market expansion. In addition, the Indian Strategy Consulting market had the quickest rate of growth in the Asia-Pacific region, while the China Strategy Consulting industry had the greatest market share.
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