Global Strategy Consulting Market Size, Share, and COVID-19 Impact Analysis, By Services (Corporate Strategy, Business Model Transformation, Economic Policy, Mergers & Acquisitions, Organizational Strategy, Functional Strategy, Strategy & Operations, & Digital Strategy), By Organization Size (Large Enterprise, Small & Medium Enterprise), By Vertical (IT & Telecommunication, Healthcare, BFSI, Retail, Manufacturing & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

Strategy Consulting Market was valued at USD 46.07 Billion in 2021. The market is projected to grow USD 122.62 Billion in 2030, at a CAGR of 11.65%. One form of service offered by a third-party expert is strategy consulting, which helps business leaders make decisions about their operations in order to meet the organization's strategic issues.

Boardroom consulting and strategic advisory are other names for this service. This kind of consulting is used to provide firms with objective guidance on important issues while utilizing in-depth knowledge of the targeted industry to provide the best outcomes. Many consultants perceive that strategic counselling, which stresses the development of organizational functional or corporate strategies, is one of the most well-known consultation services in the professional services sector.

COVID-19 ANALYSIS

The outbreak of COVID-19 has accelerated the market growth on the IT industry. It has significantly accelerated market developments that the majority of market vertices and industries are not yet aware of. Radical changes in client demand, behavior, and expectations are being brought on by this epidemic on a global scale in the consulting management sector. However, the industry players are adopting these modifications and putting into place similar improvements that will assist the industries and businesses in recovering from the pandemic's consequences. The healthcare industry and the services provided by them were in high demand during the pandemic.

TREND

Surging Demand of E-commerce Activities to Boost Product Sales

The need for strategy consulting services expected to be driven by the acceleration of economic growth enabled by the emergence of e-commerce businesses and the increase in consumer spending. There would be an improved customer digital experience demand for specialists due to the fierce competition between Amazon, Alibaba, and Flipkart as well as the quick changes in consumer purchasing habits. In order to offer distinct methods to customer relationship management, retail interface design, and technical innovation, PwC has teamed with Amazon Web Services.

DRIVERS

Growing Demand for Strategic Planning Propelling the Market Growth

There is a growing demand for strategic planning amongst businesses for their extensive growth. Also, there is an increase in competition amongst businesses to dominate the market operations which is further, developing the need for implementation of strategic consulting and planning.

RESTRAINT

Rising Costs of In-house Consultation Hampering the Market Growth

The rising costs of the services such as hotel, IT, telecom, and healthcare industries are forming internal consulting teams. The trend might also be supported in the future as time spent on research and the intense rivalry faced by businesses continues to grow in the IT sector. Last but not least, a shortage of qualified experts may limit market expansion.

SEGMENTATION INSIGHT

Based on the services, the market is categorized corporate strategy, business model transformation, economic policy, mergers & acquisitions, quilt, functional strategy, strategy & operations, and digital strategy. Based on organization size, the market is categorized into large enterprise, small & medium enterprise. Based on vertical, the market is categorized into it & telecommunication, healthcare, BFSI, retail, manufacturing and others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

By Services

Based on the services segment, the strategy & operations segment has dominated the market share in 2021 owing to the increasing number of mergers and acquisitions across industries necessitates more concentrated business operations and varied approaches to incorporating or implementing business strategy across organizations. This is contributing to enhance the market growth during the forecast period. Also, provide a boost to organizational companies as a result of the employment of digital and conventional methods to reduce operational expenses and increase productivity.

By Organization Size

Based on the organization size segment, the global strategy consulting market is categorized into large enterprise, small & medium enterprise. The small & medium enterprise segment has dominated the market share in 2020 of the market owing to the requirement to comprehend the lack of capital for advancement. Focusing on productivity and managerial development may be advantageous for the market.

By Vertical

Based on the vertical segment, the global strategy consulting market is categorized into it & telecommunication, healthcare, BFSI, others. The IT & telecommunication segment is dominated the market share in 2020 of the market owing to the battle for customers and convergence of mobile and fixed services can induce the demand for consulting services.

REGIONAL INSIGHTS

North America region is dominating the market share of global strategy consulting market owing to the increasing growth in cybersecurity legislation and demand for advisory firms. Respect for client privacy and adherence to digital rules can help the local market grow. The market will benefit from the emergence of new enterprises and from the acceptance of alternative delivery models to meet customer expectations.

However, Asia Pacific region is anticipated to grow over the next few years owing to growing infrastructure, digitalization and the rising number of industries. Additionally, growing expenditure as a result of businesses implementing cutting-edge technologies like cloud computing and advanced technology for business development is anticipated to support market expansion.

LIST OF KEY COMPANIES PROFILED:

• A.T. Kearney
• Accenture
• Bain & Company
• Boston Consulting Group
• Deloitte Touche Tohmatsu Limited
• Ernst & Young Global Limited
• GEP
• Infosys Limited
• L.E.K. Consulting
• Marsh & McLennan Companies, Inc.
• McKinsey & Company
• Mercer LLC
• Publicis Sapient
• PwC
• Roland Berger
• The Hackett Group, Inc

Key Developments:

• October 2021- EY-Parthenon acquired CMA Strategy Consulting to strengthen its offerings and elevating their opportunities by expanding digital infrastructure across technology, media and telecom (TMT) industry.

SEGMENTATION

By Services

• Corporate Strategy
• Business Model Transformation
• Economic Policy
• Mergers & Acquisitions
• Organizational Strategy
• Functional Strategy
• Strategy & Operations
• Digital Strategy

By Organization Size

• Large Enterprise
• Small & Medium Enterprise

By Vertical

• IT & Telecommunication
• Healthcare
• BFSI
• Retail
• Manufacturing
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa