The proliferation of digitally-driven business models delivered by strategy consulting, the increasing globalization of consulting projects, and the growing interest in risk sharing through the promotion of strategic partnerships and M&A are driving the growth of the global strategy consulting market. increase.
Portland, Oregon., December 8, 2022 /PRNewswire/ — Allied Market Research published a report titled “Strategy Consulting Market by Service Type (Corporate Strategy, Business Model Transformation, Economic Policy, Mergers and Acquisitions, Organizational Strategy, Functional Strategy, Strategy and Operations, Digital Strategy).” published a report. By Organization Size (Large Enterprises, SMEs), By Industry (IT & Telecom, BFSI, Energy & Utilities, Healthcare & Pharmaceuticals, Manufacturing, Government & Public Sector, Retail & E-Commerce, Others): Global Opportunity Analysis and Industry forecasts, 2021-2031. According to the report, the global strategy consulting industry $38.4 billion 2021 and $111.4 billion By 2031, we will witness a CAGR of 11.6% from 2022 to 2031. The report offers an in-depth analysis of changing market dynamics, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Constraints and Opportunities
The proliferation of digitally-driven business models delivered by strategy consulting, the increasing globalization of consulting projects, and the increasing interest in risk sharing through the promotion of strategic partnerships and M&A are driving the growth of the global strategy consulting market. increase. However, the presence of many options associated with strategy consulting services, and security concerns and data privacy issues associated with online consulting are hindering the market growth. It will bring new opportunities to the market in a few years.
Covid-19 scenario
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The rapid spread of COVID-19 has adversely affected our consulting business, including our strategic consulting services.
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The pandemic-induced lockdowns, slowdown in economic activity, loss of life, and weakening of key personnel have adversely affected the market, significantly impacting operations, cash flow, and financial conditions.
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In addition, business travel restrictions and remote work hindered the work of consulting companies that required business trips and the on-site presence of consultants working to improve business operations.
Digital strategy segment to achieve fastest growth during forecast period
Based on service type, the corporate strategy segment contributed the largest share of nearly one-fourth of the global strategy consulting market in 2021. work. However, the business model transformation segment is expected to maintain its dominance in terms of revenue by 2031. On the other hand, the digital strategy segment is projected to witness the fastest CAGR of 15.0% from 2022 to 2031. This is due to increased integration. The introduction of new technology in business processes will be more advanced than hardware and software.
The large corporate segment will maintain a lion’s share during the forecast period
Based on organization size, the large enterprise segment accounted for the largest share with nearly three-quarters of the global strategy consulting market in 2021 and is expected to maintain remarkable growth during the forecast period. This is because large companies are increasingly relying on strategy consulting solutions to support the development and implementation of their business strategies. However, the SME segment is likely to exhibit the highest CAGR of 13.2% in 2031 due to increased investment by market players to develop strategy consulting for SMEs.
Healthcare and pharmaceutical segments to grow fastest by 2031
By industry, the rapid adoption of strategy consulting services at BFSI with a focus on enhancing organizational management will make the BFSI segment the largest market in 2021, accounting for almost a quarter of the global strategy consulting market. I was. However, the government and public sector segment is expected to dominate in terms of revenue by 2031. On the other hand, the healthcare and pharmaceutical segment will exhibit the fastest CAGR of 15.0% during the forecast period. This is attributed to the increased adoption of artificial intelligence solutions by businesses to sustain and stay productive in the market.
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North America Earn maximum revenue by 2031
By region North America will be the largest market in 2021, accounting for nearly two-fifths of the global strategy consulting market, and is anticipated to exhibit the largest revenue growth during the forecast period. This is due to the rapid digitization and adoption of data analytics, blockchain, automation, and other emerging technologies by companies in the region.But the market Asia Pacific It is likely to grow at the fastest CAGR of 14.1% during the forecast period. Asia Pacific Countries are expected to adopt a high percentage of strategic consulting solutions as the region is experiencing significant growth based on strong fundamentals such as an expanding consumer market and a mature manufacturing base that attracts foreign investment. I’m here.
major market players
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