What Is The Current and Historic Market Size Analysis Of Technology Advisory Market?
The technology advisory market has seen considerable growth due to a variety of factors.
• The size of the technology advisory market has experienced consistent growth in the past few years. It is projected to increase from $160.51 billion in 2024 to $167.32 billion in 2025, with a compound annual growth rate (CAGR) of 4.2%.
The expansion during the historical period is due to factors such as the necessity for digital transformation, security threats, compliance with regulations and governance, the need for modernizing outdated systems, and the prominence of data analytics and business intelligence.
How Does the Forecast Look for the Technology Advisory Market?
The technology advisory market is expected to maintain its strong growth trajectory in upcoming years.
• The market for technology advisory services is predicted to experience significant growth over the coming years, with predictions suggesting it will expand to a value of $205.22 billion by 2029 at a compound annual growth rate (CAGR) of 5.2%.
This projected growth during the forecast period can be largely credited to variables such as the adoption of cloud computing, AI and machine learning incorporation, a focus on sustainable and green IT, e-commerce and digital marketing approaches, as well as resilience planning and business continuity. Upcoming trends to watch out for during the forecast period consist of sustainable technology methods and green IT consultancy, digital transformation strategies and roadmap development, 5G implementation advice for connectivity and innovation, advisory services for biometric and facial recognition technology, and coordination tools and technology advisory for remote work.
What Are The Key Drivers Fueling Growth In The Technology Advisory Market?
The augmenting necessity for streamlining business operational models and overseeing IT investments acts as a key catalyst propelling the growth of the technology advisory market. Technology consultancy firms assist businesses in fusing technology with their operational activities, consequently enhancing business processes, cutting expenditures, and maximizing opportunities dependent on technology. They also aid firms in managing cybersecurity threats and securing data. As an example, Louis Vuitton utilises technology consultancy to develop compact modules in business and IT strategy and IT governance to efficiently manage its functions. Similarly, corporations like Canon and Samsung avail technology guidance to streamline their operations and curtail IT expenses. Technology advisory services enable firms to concentrate more on their mainline business, avail the most recent technology, and reduce instances of hardware breakdown, virus and spyware attacks, and database corruption.
How Are The Segments Defined Within The Global Technology Advisory Market?
The technology advisory market covered in this report is segmented –
1) By Service: Application Development, Cloud Services, Cybersecurity And Privacy, Data And Analytics, Technology Strategy And Enterprise Architecture, Other Services
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
3) By End Use: Banking, Financial Services, Healthcare, IT And Telecom, Government, Other End Uses
Subsegments:
1) By Application Development: Custom Software Development, Mobile Application Development, Web Application Development
2) By Cloud Services: Cloud Migration Services, Cloud Infrastructure Management, Cloud Security Services
3) By Cybersecurity And Privacy: Risk Assessment And Management, Compliance Consulting, Incident Response And Recovery
4) By Data And Analytics: Business Intelligence Solutions, Data Management And Governance, Advanced Analytics And AI Solutions
5) By Technology Strategy And Enterprise Architecture: IT Strategy Development, Enterprise Architecture Planning, Digital Transformation Consulting
6) By Other Services: IT Project Management, Training And Change Management, Emerging Technology Advisory
Pre-Book The Technology Advisory Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Expected To Influence The Growth Of The Technology Advisory Market?
AI is a prevailing trend that's making waves in many business processes. It's a conglomerate of numerous technologies that empower a machine to perceive, interpret, and respond. AI assists businesses in identifying and fixing problems, contributing significantly to the measurable business value. It also aids in setting up hardware infrastructures – either on-premise or cloud-based, in consuming and analyzing vast amounts of data, and in the crucial optimization of computing resources. In September 2022, for instance, Tech Mahindra introduced YANTR.AI, a solution rooted in cognitive artificial intelligence (AI) designed to automate and simplify field services. YANTR.AI boosts operational efficiency, productivity, and overall workflow control by marrying advanced analytics, AI, machine learning (ML), and optimization with the human element, enabling field operations to reach unprecedented levels of automation, thereby enhancing efficiency and customer satisfaction. As AI technology continues to evolve and improve, it's increasingly becoming vital in fields like data expertise, business processes, and workflow management.
Who Are the Key Players in the Technology Advisory Market?
Major companies operating in the technology advisory market include:
• Deloitte Touche Tohmatsu Limited
• International Business Machines Corporation
• PricewaterhouseCoopers LLP
• Accenture plc
• Ernst & Young Global Limited
• Oracle Corporation
• KPMG International Cooperative
• Fujitsu Limited
• Tata Consultancy Services Limited
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Infosys Limited
• McKinsey & Company
• BDO Global
• The Boston Consulting Group Inc.
• Atos SE
• Wipro Limited
• Dell Technologies Inc.
• Booz Allen Hamilton Inc.
• Grant Thornton International Ltd
• Gartner Inc.
• Bain & Company Incorporated
• HCL Technologies Limited
• FTI Consulting Inc.
• Oliver Wyman
• Alvarez & Marsal Holdings LLC
• PA Consulting Group
• Navigant Consulting Inc.
• Catalyst Consulting Group Inc.
• West Monroe Partners LLC
• Mindtree Limited
• Slalom LLC
What Is The Most Dominant Region In The Technology Advisory Market?
North America was the largest region in the technology advisory market in 2024. Western Europe was the second largest region in the global technology advisory market share. The regions covered in the technology advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
