WILMINGTON, DE, UNITED STATES, February 12, 2024 /EINPresswire.com/ — Allied Market Research published a report, titled, “Strategy Consulting Market Share by Service Type (Corporate Strategy, Business Model Transformation, Economic Policy, Mergers and Acquisitions, Organizational Strategy, Functional Strategy, Strategy and Operations, Digital Strategy), by Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), by Industry Vertical (IT and Telecom, BFSI, Energy and Utilities, Healthcare and Pharma, Manufacturing, Government and Public Sector, Retail and Ecommerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.”
According to the report, the global strategy consulting industry is estimated to generate $38.4 billion in 2021 and $111.4 billion by 2031, witnessing a CAGR of 11.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Strategy consulting is a subset of management consulting services that primarily assist a company with effective business strategies and assist them in implementing the strategies into practice to boost revenue. Strategy consultants provide in-depth industry knowledge and impartial advice to provide organizations with the best outcomes for major decisions. In addition, consultants do not offer a one-size-fits-all solution. Their value comes in learning about each client’s business and goals and tailoring advice and strategy consulting to the specific challenges that the business faces.
Furthermore, the proliferation of digital-driving business models offered by strategy consulting is driving the growth of the strategy consulting market trends. In addition, the increasing globalization in consulting projects and the growing focus on risk sharing through strategic partnerships and M&A recommendations are fueling the growth of the strategy consulting market. However, the presence of huge alternatives related to strategy consulting services as well as security concerns and data privacy issues associated with online consulting constraints limit the growth of the strategy consulting market forecast. Conversely, the rising technology integration in consulting services is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
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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.
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. Asia-Pacific countries are expected to adopt strategy consulting solutions at a high rate as the region has grown significantly based on strong fundamentals, including expanding consumer markets and a mature manufacturing base that attracts foreign investment.
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Leading Market Players
Bain & Company, Inc.
Boston Consulting Group
Deloitte Touche Tohmatsu Limited
Ernst & Young Global Limited (EY)
McKinsey & Company
Oliver Wyman Inc.
The service segment is expected to experience significant growth in the coming years, as it offers management consulting service edge that helps in effortlessly reducing operational and servicing costs, optimizing operations, suggesting consistent technology to the organizations, creating a strategy with attainable objectives which are boosting the growth of the services segment in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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