Dublin, March 15, 2021 (GLOBE NEWSWIRE) -- The "Management Consulting Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global management consulting services market as it emerges from the COVID-19 shut down.
The global management consulting services market is expected to grow from $819.79 billion in 2020 to $895.46 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1201.06 billion in 2025 at a CAGR of 8%.
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Where is the largest and fastest growing market for the management consulting services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Management Consulting Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider management consulting services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The management consulting services market section of the report gives context. It compares the management consulting services market with other segments of the design, research, promotional and consulting services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, management consulting services indicators comparison.
Major companies in the management consulting services market include Deloitte Touche Tohmatsu Limited; Accenture Plc; International Business Machines Corporation; Ernst & Young Global Limited and PricewaterhouseCoopers (PwC).
The management consulting (MCS) market consists of the sales of MCS and related goods by entities (organizations, sole traders and partnerships) that provide a range of services providing advice and assistance on organizational planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling. Such services include solutions for administrative management issues, strategic and organizational planning, business process improvement, human resource and personnel policies, developing marketing planning and strategy, productivity improvement, quality assurance and quality control. Management consulting providers undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The management consulting services market is segmented into operations advisory; financial advisory; technology advisory; strategy advisory and other consulting services.
Western Europe was the largest region in the global management consulting services market, accounting for 45% of the market in 2020. North America was the second largest region accounting for 29% of the global management consulting services market. Africa was the smallest region in the global management consulting services market.
Artificial intelligence (AI) and automation are revolutionizing the way management consultants explore data. AI and automation help management consultants handle such processes as processing and analyzing of massive amounts of data more efficiently and faster than an average human. It can also provide accurate insights in the areas of businesses such as sales, operations, supply chain and more. For example, JLL, an American professional services and investment management company specializing in real estate, leverages an AI analysis system to drastically streamline workloads. The real estate consultancy advises on client portfolios that can be from anything between 1 and 100,000 properties, which traditionally took professionals weeks to analyze. In the consulting area, the information gathered through AI on sales channels, customer journeys and client behavior can help consultants identify new opportunities and develop effective strategies for advertising campaigns. According to Euan Cameron, PwC's UK AI Leader, AI could add huge value to the management consulting sector which traditionally was conservative and human-driven.
The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the management consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the management consulting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Many clients of the management consulting services market are expanding globally and thus require more sophisticated and internationally-oriented services. Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion and multi-national companies setting up facilities in high growth regions. Companies are increasingly forming joint ventures with firms in other countries, to test the market. Similarly, some companies are looking to acquire an established company in new market, to minimize the risk. Furthermore, globalization in the management consulting services industry is gaining momentum due to rapid growth in internet, automation of consultancy processes and developments in data security. In response to this, many domestic management consultancies have entered into new markets, collaborating with foreign groups to offer services in a wider range of countries.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Management Consulting Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Management Consulting Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Management Consulting Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Management Consulting Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Management Consulting Services Market Trends and Strategies
8. Impact of COVID-19 on Management Consulting Services
9. Management Consulting Services Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Management Consulting Services Market Regional Analysis
10.1. Global Management Consulting Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Management Consulting Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Management Consulting Services Market, Growth and Market Share Comparison, by Region
11. Management Consulting Services Market Segmentation
11.1. Global Management Consulting Services Market, Segmentation by Type
11.2. Global Management Consulting Services Market, Segmentation by End Use Industry
12. Management Consulting Services Market Metrics
12.1. Management Consulting Services Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Management Consulting Services Market Expenditure, 2015-2025, Global
13. Asia-Pacific Management Consulting Services Market
14. Western Europe Management Consulting Services Market
15. Eastern Europe Management Consulting Services Market
16. North America Management Consulting Services Market
17. South America Management Consulting Services Market
18. Middle East Management Consulting Services Market
19. Africa Management Consulting Services Market
20. Management Consulting Services Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Deloitte Touche Tohmatsu Limited
20.3.1.1. Company Overview
20.3.1.2. Products and Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. Accenture Plc
20.3.2.1. Company Overview
20.3.2.2. Products and Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. International Business Machines Corporation
20.3.3.1. Company Overview
20.3.3.2. Products and Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. Ernst & Young Global Limited
20.3.4.1. Company Overview
20.3.4.2. Products and Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. PricewaterhouseCoopers (PwC)
20.3.5.1. Company Overview
20.3.5.2. Products and Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance
21. Key Mergers and Acquisitions in the Management Consulting Services Market
22. Market Background: Design, Research, Promotional and Consulting Services Market
22.1. Design, Research, Promotional and Consulting Services Market Characteristics
22.2. Design, Research, Promotional and Consulting Services Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Design, Research, Promotional and Consulting Services Market, 2020, by Region, Value ($ Billion)
22.4. Global Design, Research, Promotional and Consulting Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Design, Research, Promotional and Consulting Services Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
23. Recommendations
23.1. Global Management Consulting Services Market in 2025 - Growth Countries
23.2. Global Management Consulting Services Market in 2025 - Growth Segments
23.3. Global Management Consulting Services Market in 2025 - Growth Strategies
24. Appendix
24.1. NAICS Definitions of Industry Covered in this Report
24.2. Abbreviations
24.3. Currencies
24.4. Research Inquiries
24.5. About the Publisher
25. Copyright and Disclaimer
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