Global Management Consulting Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
30 Jun, 2021
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.
Global Management Consulting Services Market Size And Drivers:
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%. 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.
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Trends 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.
Global Management Consulting Services Market Segments:
The global management consulting services market is further segmented based on type, end use industry and geography.
By Type: Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, Other Consulting Services, HR Advisory
By End Use Industry: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Others
By Geography: The global management consulting services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global management consulting services market, accounting for 45% of the market in 2020.
Read More On The Report For The Global Management Consulting Services Market At:https://www.thebusinessresearchcompany.com/report/management-consulting-services-global-market-report-2020-30-covid-19-impact-and-recovery
Management Consulting Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides management consulting services market overviews, analyzes and forecasts market size and growth for the global management consulting services market, management consulting services market share, management consulting services market players, management consulting services market segments and geographies, management consulting services market’s leading competitors’ revenues, profiles and market shares. The management consulting services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.