The global strategy consulting market is valued USD 140 Billion in 2017 and is projected is to exhibit 11.6% CAGR during the forecast period. The market is project to be USD 336 billion by 2026. The market is driven by increase in need for boardroom consulting and strategic advisory especially for the large enterprises.
Strategy consulting is commonly referred as boardroom consulting or strategic advisory. The strategy consulting is adopted by the most of consultants as the most prestigious consultancy and high end within the professional services sector. This primarily put emphases on private sector clients with the development of corporate, functional or organizational strategies and also this strategy consulting is adopted by the public sector organizations and organisations with economic policy.
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To sustain in the competitive world, strategy is the only source, which can create difference in the market. Therefore to maintain competitive edge in the market, big enterprises are widely adopting strategy consulting to deliver best to their customer and unleash new business growth opportunity. Further, to develop a strong market presence, strategy plays a crucial role in the market and also increasing competitive environment are driving the need for strategy consulting globally.
Majorly the large enterprises are adopting strategy consulting as they have good repository of budget and huge board of investors to fund them with money. Also, increasing pressure from new entrants in the business is creating pressure on the giant industries to develop and adopt new solution to maintain and regulate strategies. To shield business from competition paired with continuous upgradation on strategy drives the demand for strategy consultant across the world during the forthcoming years.
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North America holds the major market share of the global strategy consulting market owing to presence of major technology conglomerate in the region, wherein Asia Pacific region is expected to witness fastest growth rate owing to rapid industrial happening the particular region.
Followed by North America, Europe is anticipated to capture second largest market share in the global strategy consult market owing to ongoing industry 4.0 in developing countries such as Russia.
The global strategy consulting market is segmented into industry verticals, services, organization size, and region. On the basis of the service the market is further bifurcated into operational strategy, economic policy, digital strategy, corporate strategy, mergers & acquisitions, business model transformation, functional strategy, and organizational strategy. On the basis of industry vertical the global strategy consulting market is segmented into BFSI, manufacturing, healthcare, retail, it & telecommunication, and others. On the basis of the organization size the market is segmented into small & medium sized organization and large sized enterprises. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
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The players associated with the global strategy consulting market are BCG, CGI Group Inc., Accenture PLC, McKinsey & Company, Deloitte, PwC., KPMG, Bain & Company, CSC and Booz Allen Hamilton. Aforementioned players are continuously innovating and developing new product solution to cater the changing need of their customer and deliver the best of the solutions. Also, these players are involved in research & development to make solution more customer centric and deliver value to the customers.