Consulting Services Market: An Overview
generally support services provided for better and informed decisions. The term
consultancy broadly undertakes valuations, data accumulation, advisory, and
reporting to support the other person in making an informed choice. The scale
of consultancy can vary, ranging from an individual client to large
corporations and also undertake various industrial segments such as financials,
management, and IT. The global consulting services market has values worth USD
250 billion and is expected to show robust growth over the forecasted period.
The growth of the global consultancy services market is parallel to the growth
of the economy. In flourishing and developed economies, the organizations with
higher revenue and budgets support larger consultancies in return setting the
growth of the market. In 2019, the global consulting market showed growth due
to the high demand for strategic services and operational management services.
The global consultancy market projected a CAGR of 4.1 percent in 2019.
Consulting Services Market: Market Dynamics
The global consultancy
services market showed tremendous growth in the operations industry, accounting
for nearly 30 percent of the market, followed by the financial advisory market.
The strategy services market accounted for a 15 percent share. The rest of the
percentage was occupied by HR consulting, technology consulting, and IT
consulting. The growth of the market can be attributed to factors such as globalization,
consolidation, developments in laws, and legalizations and technological
development. Digital and business model disruption has also been a significant
factor contributing to the growth of the market. Consultancy services support
the organizations and help improve their performance, operating primarily
through the analysis of existing organizational problems and the development of
plans for improvement. Organizations seek for support from consultancies in
order to gain external advice and access the specialized consultants.
Operational Efficiency and
innovation in the consultancy sector along with the changes in government and
legal regulations have been propelling the expansion of the global consulting
services market in 2019 and is expected to grow over the forecasted period.
Another key growth driver has been the acquisition of midsize strategy
companies by leading players to provide for growth of the consultancy sector.
The need for rising consultancy services can be credited to the increasing market
ecosystem, the need for developing business capabilities for meeting and
exceeding the evolving requirements are surging the growth of strategy
consulting market wherein evolving new business models at high pace than
traditional companies structure has been one major driving force for the global
consulting services market.
Consulting Services Market: Market Segmentation
On the basis of type, the
global consulting services market can be classified as Data Consultancy,
Content and Conference for Banking, Business Valuations and Exit Planning, and
Others. On the basis of Applications, the global consulting services market can
be segregated as Large Enterprise, Small, and Medium Enterprises. In 2019, the
data consultancy market segment accounted for the largest share in the global
consultancy services market. Business Valuations and banking consultancy are
expected to emerge as two key segments in the global consulting services market
for the forecasted period.
Consulting Services Market: Regional Landscape
North America, Europe, and
Asia-Pacific are the key regions where the presence of the global consulting
services market can be witnessed. North America consulting services market
contributed the highest share to the global consulting services market and was
valued worth 604 million in 2019 and is expected to reach USD 870 million in
2026. The growth of the region can be attributed to factors such as the
presence of major consultancy service organizations in the region and
government support. Europe is expected to emerge as another key region in the
global consulting services market in the forecasted period owing to factors
such as globalization, consolidation, developments in laws and legalizations,
and technological development.
Consulting Services Market: Key Market Players
Solutions, GFT, FinTech Network, Actualize consulting, Fospha, SkySparc, Valley
Valuations and TABB Group are some of the key market players in the global
consulting services market.
Questions Answer by the Report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players.
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority and that’s why BlueWeave Consulting offers
customization according to company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis