Global Consulting Services Market Overview:
Consulting is a professional service, where a professional expert provides professional assistance to any individual and organization. According to the study, the global consulting services market is generating around USD 490 billion in revenue per year. In today’s market situation, the United States and Europe are covering the largest markets for consulting services, the global firms are targeting other industrialized regions with growth in the economies. From the last few years the demand for consulting services in India. Some of the players profiled in the study are L.E.K (United States), A.T. Kearney (United States), Deloitte (United Kingdom), PwC (United Kingdom), EY (United Kingdom), KPMG (Netherlands), Accenture (Ireland), IBM (United States), McKinsey (United States) and Booz Allen Hamilton (United States).
On the basis of geography, the market of Consulting Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Individual will boost the Consulting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Financial Services will boost the Consulting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Digital Management Consulting will boost the Consulting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Demand from the Business World for Consulting Assistance. The Increase in Lack of Technical Expertise is Driving Huge Growth in the Market.
- High Availability of Online Services
- Rapid adoption from warehousing, knowledge management tools, and the internet guarantee the faster growth of this industry in future areas. With the huge expansion of the consulting organizations, the size of individual firms is growing in response to another industry trend.
- The Slowdown in Economy Because of Coronavirus Pandemics
- Increasing Number of Small and Large Size Organizations Across the Globe but Majorly in the United States Regions
- Development in Cloud Consultancy Services
- Lack of Awareness Among End Users
Key Market Developments:
In Oct 2020, The Depository Trust & Clearing Corporation announced the launch of DTCC consulting services. The company will offer client-focused services that help them in transforming their experience in post trade processing. Through this initiative, the company is becoming more competent across the globe.
In this market, the requirement is driven majorly by corporate spending. The effectiveness of individual companies depends on the efficiency of their operations and also able to maintain a constant growth in business. Rise the awareness among the large size organizations its huge benefits in being able to offer broad ranges of services on its complex projects.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Consulting Services Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Consulting Services market on the basis of product [Technical Consulting, Strategy Consulting and Management Consulting] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Consulting Services market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Consulting Services industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are The Boston Consulting Group (United States), Bain & Company (United States) and OC&C Strategy (England).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Consulting Services market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.