Strategy Consulting Market

In the digitalization trend, business growth depends on promotion of products and services through digital channels, indirectly increasing need for the market.

PORTLAND, PORTLAND, OR, UNITED STATE, July 11, 2023/EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Global Strategy Consulting Market Reach to USD 111.4 Billion by 2031 | Top Players Such as -Deloitte, Accenture & Boston." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global strategy consulting market was valued at USD 38.4 billion in 2021, and is projected to reach USD 111.4 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.

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The proliferation of digital-driving business models offered by strategy consulting, increasing globalization in consulting projects, and the growing focus on risk sharing through strategic partnerships and M&A recommendations fuel the growth of the global strategy consulting market. However, the presence of many alternatives related to strategy consulting services as well as security concerns & data privacy issues associated with online consulting hinder the market growth. On the other hand, the rising technology integration in consulting services presents new opportunities in the market in the coming years.

The strategy consulting market is segmented on the basis of service type, organization size, industry vertical, and region. By services, 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 large enterprises and small to medium enterprises (SMEs). By industry vertical, it is segregated into IT & telecom, BFSI, energy & utilities, healthcare, manufacturing, government and public sector, retail and e-commerce, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on service type, the corporate strategy segment contributed to the largest share of nearly one-fourth of the global strategy consulting market in 2021, owing to the growing adoption of corporate strategy as it helps to make strategies and activities in every other part of the business. However, the business model transformation segment is expected to maintain its dominance in terms of revenue by 2031. The digital strategy segment, on the other hand, is projected to witness the fastest CAGR of 15.0% from 2022 to 2031.

Based on industry vertical, the BFSI segment was the largest market in 2021, accounting for nearly one-fourth of the global strategy consulting market, due to the rapid adoption of strategy consulting services among BFSI, which focuses on enhancing organizational management. However, the government and public sector segment is anticipated to dominate in terms of revenue by 2031. On the other hand, the healthcare and pharma segment would manifest the fastest CAGR of 15.0% during the forecast period.

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Based on region, North America was the largest market in 2021, accounting for nearly two-fifths of the global strategy consulting market, and is anticipated to manifest the largest revenue growth during the forecast period. This is due to the rapid digitalization and the proliferation of data analytics, blockchain, automation, and other emerging technologies by businesses in the region. However, the market in Asia Pacific is likely to grow at the fastest CAGR of 14.1% during the forecast period.

The global strategy consulting market is dominated by key players such as 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.

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Covid-19 Scenario :

● The rapid spread of the COVID-19 disease had a negative impact on the consulting businesses, including strategy consulting services.

● The lockdowns, slowdown of economic activities, loss of life, and debilitation of key personnel brought on by the pandemic had an adverse effect on the market, resulting in a considerable impact on operations, cash flows, and financial condition.

● Moreover, the operations of consulting companies that required travel and on-site presence of consultants working on operational improvements were hampered due to travel restrictions and remote working.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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