PUBLISHER: Allied Market Research | PRODUCT CODE: 1193372
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193372
Strategy consulting is a type of service that entrepreneurs enlist with the assistance of a third party to provide an objective, knowledgeable viewpoint on particular problems, typically by CEOs, boards, or management. Strategy consultants provide recommendations to numerous organizations on top-level business decisions by evaluating the high-level company issues, which in turn, delivers high business prospects and improved strategy undertaking among the consumer base. They look at specific issues from all angles and offer guidance on how businesses can approach them. In addition, consultants are valued mainly for their expertise, specialized abilities, and influence. The strategy consulting market is benefited from a number of factors, including increasing business competition and the surge in demand for strategic business planning.
In addition, salespeople and consultants are typically using hybrid working models as a result of travel restrictions from the recent pandemic situation, therefore, consumers are looking for digital solutions and services, including real-time strategy consulting. Furthermore, workers are expected to benefit from the freedom it provides and assists businesses in reaching out to more potential clients at the same time. For instance, with clients based in different geographical areas, platforms such as Microsoft Teams enable end-users to communicate effectively from location to location, regardless of where the user is based.
Factors such as the proliferation of digital-driving business models are expected to boost market growth. In addition, the increasing globalization in consulting projects and the growing focus on risk sharing through strategic partnerships and M&A recommendations further drive the market's growth. Furthermore, the rising technology integration in consulting service type is expected to provide lucrative growth opportunities for the market in the upcoming years. However, the presence of huge alternatives related to strategy consulting service type, security concerns, and data privacy issues associated with online consulting constraints hampers the market growth.
The strategy consulting market is segmented on the basis of service type, organization size, industry vertical, and region. By service type, it is fragmented into corporate strategy, business model transformation, economic policy, merger & acquisition, organizational strategy, functional strategy, strategy & operations, and digital strategy. By organization size, it is categorized into small to medium enterprises (SMEs) and large enterprises. By industry vertical, it is segregated into manufacturing, energy & utilities, retail & e-commerce, IT & telecom, healthcare & pharmacy, government & public sector, BFSI, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the strategy consulting market include Accenture, AT Kearney, Bain & Company, Inc, Boston Consulting Group, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International, McKinsey & Company, Oliver Wyman Inc., PwC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which drive the growth of the strategy consulting market globally.
By Service Type
By Organization Size
By Industry Vertical
By Region