Global Business Consulting Services Market Overview:
Business consulting means providing solutions/services to the clients (other business firms/organizations/companies) to the problems they face in areas such as strategic planning, business expansion, investment, process optimization, and merger/acquisition, etc. These services are based on assumptions and probability. The explosion of information over the internet has made it easy for consultants to get information quickly and process it. However, developing analytical skills and their application is key to this industry. The market leaders of this industry are PriceWaterhouseCoopers (PWC), Deloitte, Ernst & Young and KPMG. Services provided by these firms are expensive and cannot be availed by medium and small scale businesses. Mid-sized companies cannot afford services of trusted top tier consultants hence they settle with new emerging players or freelancers Hence business consulting services market is expected to grow potentially in long-standing.
- Providing Management and Strategy Services to the Company
- Increasing Quality and Efficiency of Production Process
- Growing Economy, And High Focus on Industrialization
- Rapidly Evolving Global Scenario
- Adoption of Various New Technologies by Business Heads Leading to Requirement of Expertise
- High Cost Associated with Business Consulting Services
- Various External Factors may Change the Future Predictions
- Increasing Interest of Midsize Firms and Organizations to Beat the Competition
- Entry of Small Consultancy Firms Providing Solutions at Reasonable Rates.
- Difficulty in Providing Accurate Predictions for Every Opportunity
- Data Insufficiency in Case of Some Niche Markets
Business consultancy services market is fragmented owing to number of players present in the market. According to data published by the market leaders, there are over 70,000 companies offering, all or some type of business consulting services. Increasing number of entrepreneurs is expected to further supplement the growth of industry.
Some of the key players profiled in the report are Accenture (Ireland), Bain & Company (United States), Boston Consulting Group (United States), Booz Allen Hamilton (United States), Deloitte (United States), Ernst & Young (United States), KPMG (Canada) and McKinsey & Company (United States). Additionally, following companies can also be profiled that are part of our coverage like Mercer (United States) and PricewaterhouseCoopers (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Business Consulting Services market by 2025. Considering Market by Organization Size, the sub-segment i.e. >USD 1 Billion will boost the Business Consulting Services market. Considering Market by Incorporation Type, the sub-segment i.e. Public will boost the Business Consulting Services market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Business Consulting Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Business Consulting Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Research Organizations and Consulting Companies, Organizations, Associations and Alliances Related To Business Consulting Services, Government Bodies Such As Regulating Authorities and Policy Makers., Industry Associations, Market Research and Consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.