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Global Management Consultancy Industry Report: Country Overview; by Type; Recent Events; Value Chain Analysis; Trade Analysis; Cost Structure; Price Analysis; Indicator Analysis; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices; Key Supplier Analysis, 2022-2027

Management Consultancy Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

The global management consultancy market reached a value of about USD 164.2 billion in 2021. The industry is projected to grow at a CAGR of around 9.6% in the forecast period of 2022-2027 to reach a value of USD 288.7 billion by 2027.


The management consultancy industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. There are more than 700,000 management consultancy companies globally that provide an array of services, which includes regular consulting and those aiming at niche topics like finance, information technology (IT), human resources (HR), operations, strategy, and taxation. There is a rise in the usage of management consultancy services by business professionals while they are trying to take out the best way to act on the evolving trends such as AI analytics, cybersecurity, and digital transformation. The key demand indicator in the industry report is the highest category spender by region — Western Europe.

Industry Definition and Segmentation

The management consultancy (MC) market comprises organisations, sole traders, and partnerships, selling management consulting services, and other related facilities that deliver a series of services offering guidance and support on planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling of organisations. These management services consist of resolutions for administrative concerns, tactical and organisational planning, business process advancement planning and strategy, output efficiency, and quality assurance and quality control guidance. The global management consultancy industry report comprises segments based on its service type (operations advisory, HR advisory, strategy, financial advisory and technology advisory), end-use industry (financial services, IT services, manufacturing, construction, mining and oil and gas, and others), and regions (North America, Western Europe, the Asia Pacific, Eastern Europe, South America and the Middle East and Africa).

The Western Europe Region is Driving the Growth of the Industry

Western Europe holds the largest market share in the management consultancy market accounting for 45% of the international market. The second in place is the North America region which accounts for 29% of the total market share. The primary reason behind this is the highly unpredictable marketplace throughout the economy in these regions alongside the prolonged developments in government regulations is encouraging companies to move toward management consultancy entities to obtain support in their financial processes in the region. Furthermore, the rise of the incorporation of analytics, cloud, media, and social media with various business models is likely to drive the management consultancy market. In addition, digital consultancy services are also expanding at a faster rate and are estimated to increase further in the coming years. This will further improve the market for cyber security, IT transformation, and social media marketing. Moreover, there is a global level expansion of several management consultancies client organisations and hence they need more refined, modern, and internationally oriented services. Such a level of globalisation is anticipated to surface a way for more collaborative ventures, investments by foreign companies, expansion of companies at an international level, and multi-national companies building their facilities in high-growth regions. Hence, globalisation in the management consultancy industry is gaining impetus owing to the speedy growth of the internet, automation of consultancy processes, and advancements in data security.

However, the increase in artificial intelligence (AI) projects in the management consultancy arena is expected to limit the development of the market. It is forecasted that innovative and sophisticated AI technology will occupy some share of management consultants in the industry. Other restraints in the future can be increased costs and declining margins, and internal management consulting teams in big multi-national organisations.

Best Procurement Practices

The global management consultancy industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by management consultancy services providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.

Category Management Studies

The suppliers of management consultancy take on methods and processes in which human capital is the key input. The service providers offer the knowledge and skills of their personnel, generally on a project basis, where a team or an employee is accountable for delivering required services to the client.

IT Transformation and Virtual Companies in the Management Consultancy Industry to Further Drive the Market

Fast change in technology, rise in the pressure to decrease costs, and expanded use of smartphones are establishing the idea of virtual businesses to market leaders in the management consultancy industry. It is projected that a soaring number of management consultancy companies will go virtual and have a smaller number of permanent offices. This will allow them to reduce expenses and increase profits. For instance, companies like Aepiphanni Business Consulting have already implemented the virtual company concept and are serving their clients online. Additionally, growing competitiveness, new governing pressures, investors’ expectations, and rising prospects are putting firms under force to digitalise their methodologies and management. Hence, management consultancy companies are offering IT transformation services to businesses, banks, and other companies to defeat challenges like increasing investor expectations and decreasing budgets.

The major zones in the industry are North America, Western Europe, the Asia Pacific, Eastern Europe, South America, and the Middle East and Africa.

Key Industry Players Mentioned in the Management Consultancy Industry Report

  • McKinsey & Company, Inc.
  • Deloitte Touche Tohmatsu Limited
  • Ernst & Young Global Limited plc
  • Accenture plc
  • Bain & Company

Market Landscape

The major segment within the advisory division is the operations consultancy as most of the specialists are operating in one of the several essential working areas. Besides, the overall management consultancy industry is projected to move on as a niche consulting business to support the clients locally. Furthermore, the independent consultancy industry is emerging online with the cloud offering ready access to SMEs through virtual sessions in almost all topics helping the industry to grow tremendously. Also, the percentage of job growth in 2022 for management consultancy and analysts is 14% which is much sharper than the average job prospects.

Key Initiatives by Companies

  • In October 2019, there was a letter agreement made by Booz Allen under its collaborative venture with the U.S. Department of Commerce’s National Technical Information Services (NTIS), to support the U.S. Department of Defense’s (DoD) Joint Artificial Intelligence Center (JAIC). Booz Allen joined with NTIS in its aim to deliver innovative data services to federal agencies, by mutual enterprise alliances with the private sector, to progress federal data urgencies, stimulate economic growth, and facilitate operational brilliance.
  • In October 2018, there was a global strategic partnership between Bain and Company and Endava, blending Bain’s industry-leading management consulting services along with Endava’s superior class strategy-led venture supply and next-gen technology services. This collaboration brought together intense skills in business and technology strategy, product ideation, technology progression and deployment, and organisational change administration to better support clients by successful alterations.

1.    Executive Summary
2.    Management Consultancy Market Snapshot

    1.    Management Consultancy Market Outlook
    2.    Management Consultancy Market, by Type
        1.    Operation
        2.    Finance
        3.    Strategy
        4.    Others
3.    Regional Overview
    1.    North America
    2.    Europe
    3.    Asia Pacific
4.    ROW
3.    Impact of Recent Events
4.    Value Chain Analysis
5.  Trade Analysis
6.  Major Risk Factors in Sourcing
7.  Management Consultancy Cost Structure
8.  Management Consultancy Price Analysis
9.  Key Demand Indicator Analysis
10.    Key Price Indicator Analysis
11.    Market Dynamics

    1.    Drivers & Constraints
    2.    Industry Events
    3.    Innovations & Trends
    4.    SWOT Analysis
    5.    Porter’s Five Forces
        1.    Buyer Power
        2.    Supplier Power
        3.    Threat of New entrants
        4.    Threat of Substitutes
        5.    Industry Rivalry
12.    Industry Best Practices
    1.    Sourcing Strategy
    2.    Procurement Model
    3.    Contract Structure
    4.    Negotiation Levers
    5.    Pricing Model
    6.    Key Factors Influencing the Quotation
13. Key Supplier Analysis
    1.    Accenture
    2.    Deloitte
    3.    PWC
    4.    McKinsey

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Key Questions Answered in the Report

In 2021, the global attained a value of around USD 164.2 billion in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 9.6%.

The major market drivers are swifter economic development, the growth of digital consulting, and the rise of globalisation.

The major regions in the industry are North America, Western Europe, the Asia Pacific, Eastern Europe, South America, and the Middle East and Africa.

Some of the leading players in the industry are McKinsey & Company, Inc., Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited plc, Accenture plc, and Bain & Company.

Analyst Review

The global management consultancy market reached a value of about USD 164.2 billion in 2021 and is projected to grow at a CAGR of around 9.6% in the forecast period of 2022-2027. The management consultancy (MC) market comprises organisations, sole traders, and partnerships, selling management consulting services, and other related facilities that deliver a series of services offering guidance and support on planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling of organisations.

The global management consultancy industry report comprises segments based on its service type, end-use industry, and regions. Western Europe holds the largest market share in the management consultancy market accounting for 45% of the international market. The second in place is the North America region which accounts for 29% of the total market share. Furthermore, the rise of the incorporation of analytics, cloud, media, and social media with various business models is likely to drive the management consultancy market. In addition, digital consultancy services are also expanding at a faster rate and are estimated to increase further in the coming years. Some of the leading players in the industry are McKinsey & Company, Inc., Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited plc, Accenture plc, and Bain & Company.

Procurement Resources’ detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise thus, delivering its customers with market insights that are accurate, actionable, and help them remain ahead of their competition. Some of the leading players in the industry are Epiroc AB, Sandvik AB, Caterpillar Inc., Komatsu Ltd., Liebherr-International Deutschland GmbH, and Hitachi Construction Machinery Co, Ltd.

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