Management Consulting Services Market Expected to Reach $811.3 Billion by 2031 |

According to a new report published by Allied Market Research, titled, "Management Consulting Services Market," The management consulting services market was valued at $316.45 billion in 2021, and is estimated to reach $811.3 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.

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Many firms lack the technological, strategic, and project management skills necessary to manage market and technical changes in the constantly evolving market as a result of the unintentional decline in personnel. This has fueled the demand for management consulting services market globally. Additionally, several consulting organizations have already developed innovative solutions by establishing their own approved programs in response to the lack of competent candidates. This career attracts a lot of individuals due to the increased demand and exposure, as well as the alluring income packages resulting in management consulting services market growth.

Furthermore, with increase in requirements from management consultancy, various management consulting firms are establishing partnerships to increase management consulting services capabilities. For instance, in October 2021, Citi announced a strategic partnership with China Guangfa Bank (CGB) to offer cross-border wealth services to clients in the Greater Bay Area (GBA) under the Cross-boundary Wealth Management Connect Pilot Scheme (WMC). The partnership is expected to combine Citi's wealth management capabilities and advisory with CGB's vast retail operations in the GBA to provide unmatched cross-border wealth management experience and opportunities for retail investors in the GBA.

By industry vertical, the BFSI segment acquired the major share for the market of management consultancy. This is attributed to the fact that management consulting services are frequently used in the banking, financial services, & insurance (BFSI) sectors to improve the return on client investments. Experienced management consultants can assist firms in maximizing customer investments, which increases the likelihood of financial sector enterprises receiving additional funding and broadening their margins.

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Region-wise, North America dominated the management consulting services market in 2021. This is attributed to the fact that rising borrowing costs and geopolitical tensions are anticipated to encourage consumers to consult professional consultants. Furthermore, with surge in importance of management consultants, many firms in the region have started acquiring local firms to expand their market reach.

There has been a significant shift in consumer patterns for management consulting services industry during the pandemic. In addition, COVID-19 caused a technological disruption; as a result, enterprises are applying artificial intelligence & machine learning technologies to give solutions & services to clients to meet the demands of changing consumer trends. Furthermore, this boosted the demand for management consulting services during the pandemic.

Key Benefits Stakeholders :

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the management consulting services market forecast from 2021 to 2031 to identify the prevailing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities of management consulting services market overview.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the management consulting services market segmentation assists in determining the prevailing management consulting services market opportunity.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global management consulting services market trends, key players, market segments, application areas, and market growth strategies.

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Management Consulting Services Market Report Highlights

Type
Strategy Consulting
Operations Consulting
Financial Advisory
Financial Advisory
Corporate Finance
Accounting Advisory
Tax Advisory
Transaction Services
Risk Management
Others
Technology Consulting
Human Resources Consulting

Organization Size
Large Enterprises
Small & Medium-Sized Enterprises

Industry Vertical
BFSI
IT and Telecom
Manufacturing
Retail and E-Commerce
Public Sector
Healthcare
Others

By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players :
A.T. Kearney, Inc., Aon Plc, Bain & Company, Inc., Booz Allen Hamilton Inc., Boston Consulting Group, CGI Inc., Cognizant Technology Solutions, CSC Consulting Services, Deloitte, Ernst & Young, KPMG International Limited, McKinsey & Company, Mercer LLC, PwC, Strategyn LLC, Sia Partners

FREQUENTLY ASKED QUESTIONS?
Q1. At what CAGR, the Management Consulting Services Market will expand from 2022 - 2031?
Q2. What will be the market value of Management Consulting Services Market by the end of 2031?
Q3. Which are the factors that drives Management Consulting Services Market Growth?
Q4. Who are the leading players in Management Consulting Services Market?
Q5. What are the key growth strategies of Management Consulting Services Market Players?

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