The global management consulting services market revenue was around US$ 348.7 billion in 2022 and is estimated to reach US$ 811.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.2% during the forecast period from 2023 to 2031.

The term "management consulting,? usually known as "business consulting," refers to implementation or advice services delivered to the management of an organization to improve the efficiency of its business strategy, operational procedures, and organizational performance.

Factors Influencing Market Growth

- The rise in the adoption of management consulting services for optimizing operations and decreasing operational costs is pushing the growth of the management consulting services market.

- Globalization in the management consulting services industry, automation of consulting processes, and penetration of high-speed internet are accelerating the growth of the management consulting services market.

- Cyber-attacks, risks of data breaches, and complexity of the project hinder the growth of the management consultancy services market.

- The growth in initiatives and developments toward digitalized services is expected to deliver a possible growth opportunity for the management consultancy services market.

Impact of COVID-19

The impact of COVID-19 pandemic had a negative influence on the management consulting services industry because of the decline in demand for management consulting services globally.

Regional Analysis

In 2022, North America dominated the management consulting services market in terms of revenue. This is attributed to the fact that growth in geopolitical tensions and borrowing costs are expected to motivate consumers to consult professional consultants. Also, with the surge in importance of management consulting firms in the region have formed developing local firms to extend their market reach.

Leading Companies

The leading prominent companies profiled in the global management consulting services market are: -

- A.T. Kearney, Inc.
- Accenture
- 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
- Other prominent key players

Segmentation Outline

The global management consulting services market segmentation focuses on Type, Organization Size, Industry Vertical, and Region.

Segmentation based on Type

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

Segmentation based on Organization Size

- Large Enterprises
- Small & Medium-Sized Enterprises

Segmentation based on Industry Vertical

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

Segmentation based on Region

- North America
- The 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