Strategy Consulting Market 2018 Global Industry Size, Share, Trends, Growth Factors, and Regional Outlook To 2023

Posted November 27, 2019 by EhteshamP

Strategy Consulting Market Research Report: by Product (Operation Consultant, Business Strategy Consulting, Investment Consultant), by Application (Financial Sector, Chemical Sector, Automotive Sector), and Region - Forecast to 2023
Market Highlights

Strategy consulting is essential for the growth of companies operating in areas such as business service, marketing and sales, financial management and controls, information technology, human resource, quality management, and others. Strategy consulting allows companies to maintain sustainable competitive advantage amidst a challenging business environment. Market Research Future (MRFR) in-depth report on the global strategy consulting market has projected the market to reach a valuation of USD 43.98 Bn at a CAGR 5.17% over the forecast period of 2018-2023.

Increasing volatility in the economic landscape combined with fierce competition has necessitated the need for strategy development to tide over such situations. The current business world is characterized by high difficulty level in new product launches, legal complexities, and increased incidences of various supply-side challenges. Moreover, intensifying competition has compelled businesses to resort to strategic consulting services, which help them adapt to constantly changing business models.

Digitalization has had a tremendous impact on the growth of the strategy consulting market. The IT and BFSI sectors have turned to strategy consulting services to enhance their offerings, which are likely to deepen the level of growth of strategy consulting market. The inclusion of advanced technologies such as automation and artificial intelligence (AI) is estimated to create favorable groundwork for the expansion of the strategy consulting market.

On the other hand, the strategy consulting market is likely to experience various setbacks over the forecast period. Lack of skilled analysts who have a deep understanding to provide in-depth analytical knowledge and lack of domain knowledge as bottlenecks to the growth of the market.

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The strategy consulting market has been segmented based on application and product.

By product, the strategy consulting market has been segmented into operation consultant, business strategy consulting, and investment consultant. The operation consultant segment is likely to lead the market over the forecast period and reach USD 16.67 Bn at a CAGR of 3.93% over the forecast period. The business strategy consulting segment is expected to register the highest CAGR of 6.04% over the forecast period.

By application, the strategy consulting market has been segmented into chemical sector, financial sector, and automotive sector. The financial segment is likely to command the largest share of the market over the forecast period. The automotive sector segment is expected to be the fastest growing segment and expand at a CAGR of 6.54% over the forecast period.

Regional Analysis:

Region-wise, the strategy consulting market has been segmented into Asia Pacific (APAC), Rest-of-the-World (RoW), Europe, and North America.

North America accounted for the principal share of the global market in 2013 and is likely to reach USD 16.64 Bn at a CAGR of 4.75% over the forecast period. The US is a prominent market for strategy consulting in the North American region. Competitive business environment in the region along with the clustering of major market players in the region have driven the market majorly.

Europe is the second largest strategy consulting market and is expected to expand at a CAGR of 5.47% over the forecast period. The Europe market is anticipated to reach USD 13.64 Bn by the end of 2025. Europe is following the path guided by North America and is increasingly investing in strategic consulting, which is likely to augment the growth of the market over the forecast period. The burgeoning growth of the industrial sector in APAC has attracted massive investments in the region, which provides lucrative opportunities for the growth of the strategy consulting market.

Competitive Landscape

The notable players in the global strategy consulting market include Roland Berger LLC, Accenture, Deloitte Touche Tohmatsu Limited, The Boston Consulting Group Inc, Marsh & McLennan Companies Inc, A.T. Kearney Inc, Bain and Company, Mc Kinsey & Company, Pricewaterhouse Cooper (PwC),

Industry Updates

June 2019 - PA Consulting Group, a consultancy specializing in management consulting, technology and innovation, announced the acquisition of 4iNNO, Cincinnati-based firms specializing in new product platforms.

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Last Updated November 27, 2019