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Pulished Date October, 2021
ID: 12278
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Business Management Consulting Service Market Research Report - Segmentation by Type (Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, and HR Advisory); By Target (First, Second & Third Tiers) - Demand Analysis & Opportunity Outlook 2026

Pulished: October, 2021
ID: 12278
Pages: 150

Business Management Consulting Service Market Size (2021-20206)

The Global Business Management Consulting Services market is currently worth $819.79 billion in 2020, and is projected to be at $1244.36 billion in 2026 growing at a CAGR of 4.30%. The growing demand for consulting companies' services is fueled by the need for outside help from several enterprises, charitable organizations, and government agencies, which positively impacts the Business Management Consulting Service Market's growth.

Business Management Consulting advises organizations on the best ways to manage and operate their company. Management consulting organizations provide recommendations on a local and worldwide level to assist businesses in developing acceptable strategies to launch, evolve, and cut costs.

The Business Management Consulting Service Market comprises entities that sell management consulting and related goods and provide advice and assistance on organizational planning, financial budgeting, marketing strategies, human resource practices, administration policies, and production and logistics scheduling.

Recent Developments

  • Today, Oliver Wyman, a worldwide management consulting firm and a Marsh McLennan subsidiary, announced that it has agreed to buy Huron's biosciences strategy consulting practice. Huron is known for its skilled life sciences strategy work, which includes assisting customers with their most demanding commercial, marketing, pricing, market access, and R&D dilemmas. Therefore, many of the world's most prominent pharmaceutical, biotechnology, diagnostics, and medical device firms have long trusted Huron's senior specialists as trusted consultants.
  • All for One Group SE, a major IT/SAP, strategy, and management consulting firm listed on the Frankfurt Stock Exchange's Prime Standard, has agreed to buy out all of the shares of ASC Management Consulting AG and Advanced Solutions Consulting GmbH, both based in Switzerland.
  • Deloitte purchased Odysseus, a firm that specializes in building and delivering ServiceNow solutions, in October 2021. Odysseus will become part of Deloitte's Consulting business, specifically the Technology unit.
  • Umlaut, an engineering consulting and services firm situated in Aachen, Germany, has been acquired by Accenture. Accenture's deep engineering capabilities will be significantly expanded due to the move, which will enable companies to utilize digital technologies that include cloud, artificial intelligence, and 5G to transform how they design, engineer, and manufacture products while also embedding sustainability.


Organizations continuously attempt to cut expenses and improve efficiency so that cost savings can be passed on to customers to stay competitive. As a result, demand for business process improvements and operational efficiency consultancy is increasing.

Agile, Artificial Intelligence, and analytics are three technical skill sets that MNCs actively seek consulting advice. In addition, corporate buyers are increasingly interested in digital marketing and transformation consulting as product and service companies invest more in user experience design, customer-focused data analytics, and customer engagement tactics.

Regulatory developments such as the US Tax Reform, BREXIT, the EU GDPR (General Data Protection Regulation), and others have resulted in a rise in consulting demand across all main service lines. Multinationals will seek high-value assistance to be compliant with regulations, fueling demand for management and law consulting.


The significant growth of the freelance consulting industry can be attributed to the pricing and flexibility afforded by independent/freelance consultants. For example, separate consulting accounts for 10% of the £10 billion consulting sectors in the United Kingdom. As a result, traditional consulting firm/industry revenues are projected to be eaten up by the consulting freelance industry soon.

Large corporations are forming in-house consulting units and promoting former consultants to senior roles, reducing their need for outside consultants. Time constraints for cultivating client relationships, consultants' desire to give more value to clients at the exact cost, and insufficient time to adequately respond to client RFIs/RFPs are a few more factors limiting consulting sector growth, revenues, and clientele. In the internet age, consultants' tools, templates, and models, considered intellectual capital, can no longer be kept private. In addition, the consulting industry is affected by the democratization of knowledge.

The market's growth may also be hampered by rising costs and shrinking margins and improvements in artificial intelligence with the idea to replace management consultants.

Market Segmentation

Business Management Consulting Service Market - By Type

  • Operations Advisory
  • Financial Advisory
  • Technology Advisory
  • Strategy Advisory
  • HR Advisory

During the forecast term, strategy advisory expected strong growth. Depending on the organization's demands, the service comprises providing advice on strategy concepts such as business strategy and operational approaches, all while maintaining adequate time management. In addition, professionals in the industry are attempting to determine the best course to adapt to emerging developments such as artificial intelligence, analytics, cybersecurity, and digital transformation.

Business Management Consulting Service Market - By Target

  • First tier
  • Second tier
  • Third tier

The target market is bifurcated into the first tier, second tier, and third tier. Customers in the first tier, those with revenues of more than $3 million, are more accustomed to outsourcing and may feel more at ease employing Growth Management and Strategies on a retainer basis. Strategically, a retainer helps sustain steady cash flow, even if these customers require more services than they have paid for in any given month. This issue will be discussed further in the Personnel section.

Customers in the second tier, with revenues ranging from $501K to $3 million, are often ecstatic to have progressed from the home office stage to a new level of stability. These businesses can be the most difficult to work with if they are self-funded because they are typically unwilling to part with company shares and don't yet understand what kind of marketing expenditure is required to expand a business at this time. Based on a bid cycle and a needs study, the company will serve these small enterprises.

Customers on the third tier are more accessible to spot and more common than the others. These small firms make between $200K and $500K in revenue, are generally run from home, and have a piece of solid knowledge regarding their market and potential, but struggle to execute their plans successfully or follow through on wealth-generating growth initiatives. To maintain a steady revenue stream, the idea is to supply these enterprises with a quick needs analysis and focus on such clients.

Business Management Consulting Service Market – By Region

  1. North America
  2. Asia Pacific
  3. Europe
  4. Latin America
  5. Middle East & Africa

Western Europe dominated the worldwide management consulting services industry in 2020, accounting for 45 percent of the total. The second-largest area, North America, accounted for 29% of the worldwide management consulting services market. In the global management consulting services market, Africa was the smallest region.

During the forecast timeline, the APAC Business Management Consulting Services market is expected to increase at a compound annual growth rate (CAGR) of 2.8 percent, reaching US$106.4 billion. China, closely followed by Australia, was the largest market for consulting services in the Asia-Pacific region. The Chinese market was estimated to be worth 5.9 billion dollars, while the Australian market was worth 5.8 billion dollars. Beyond 2021, Japan will be the second-largest country, with a market share of 28.8%, followed by India with an 8.5 percent market share. The growing e-commerce industry has increased the need for hardware and software solutions in the IT and telecom industries, resulting in the growth of the system design and integration market. Furthermore, the rise of local specialized suppliers, combined with the growing presence of global technology vendors, would propel the system design and integration market forward.

The European consulting market is expanding healthily, with management consulting services in Eastern Europe seeing increasing uptake. In the previous five years, lesser-known European countries such as Romania, Ukraine, Bulgaria, and Poland have experienced rapid growth. In comparison to Western countries, the market in these countries has roughly doubled. The realization of the high-value proposition of management consulting even in countries with limited financial resources is a significant element. Financial consultancy is the region's fastest-growing industry, as large corporations compete for the net tax credit.

Brazil is by far the most critical market in South America. However, due to recent political and economic difficulties, the market has grown slower than the rest of the continent. As a result, the growth of the much smaller markets of Argentina, Chile, and Colombia has surpassed that of Brazil.

The United States (US) is the world's largest revenue-generating consulting service market because it is home to top global consultant companies that serve a wide range of end-user verticals. Furthermore, the highly unpredictable market across the US economy, combined with ongoing government regulatory reforms, is leading corporations to seek aid in their financial operations across the country from management consulting firms. As a result, there will be approximately 734,000 management consultants in 2020. The most pressing issue in the regional industry is attracting and creating new enterprises, with 40% of senior executives considering this a top challenge.

Leading Company

Deloitte is the most prominent consulting firm in the world, with annual revenue of $47.6 billion.

Key Players

  • Bain & Co
  • Boston Consulting Group
  • McKinsey & Company
  • EY
  • Kearney
  • L. E. K. Consulting
  • Oliver Wyman
  • Roland Berger
  • Accenture
  • Booz Allen Hamilton
  • KPMG
  • PwC Consulting

Impact of COVID-19 on Business Management Consulting Service Market

In 2020, amidst the COVID-19 pandemic, the Business Management Consultancy Service market experienced a contraction due to the abrupt shutting down of operations, which was turbulence due to widespread panic in various industries. However, the pandemic has created firms' opportunities to provide financial crisis and recovery advisory services.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Business Management Consulting Service Market, By Type                   

                                6.1.1 Operations Advisory           

                                6.1.2 Financial Advisory

                                6.1.3 Technology Advisory          

                                6.1.4 Strategy Advisory 

                                6.1.5 HR Advisory           

                                6.1.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.7 Y-o-Y Growth Rate Analysis              

                                6.1.8 Market Attractiveness Index           

                6.2 Business Management Consulting Service Market, By Target                

                                6.2.1 First           

                                6.2.2 Second     

                                6.2.3 Third Tiers               

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Business Management Consulting Service Market, by Region                 

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              



                                7.2.2 By Type    

                                7.2.3 By Target 

                7.3 Europe                         

                                7.3.1 By Country              






                                       Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Target 

                7.4 Asia Pacific                  

                                7.4.1 By Country              




                                       South Korea

                                       South East Asia

                                       Australia & NZ

                                       Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Target 

                7.5 Latin America                            

                                7.5.1 By Country              




                                       Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Target 

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                       Middle East


                                7.6.2 By Type    

                                7.6.3 By Target 

8. Key Player Analysis                                    

                8.1 Bain & Co                    

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Boston Consulting Group                     

                8.3 McKinsey & Company                            

                8.4 EY                   

                8.5 Kearney                       

                8.6 L. E. K. Consulting                    

                8.7 Oliver Wyman                           

                8.8 Roland Berger                           

                8.9 Accenture                   

                8.10 Booz Allen Hamilton                             

                8.11 KPMG                        

                8.12 PwC Consulting                      

9. Market Outlook & Investment Opportunities                                 


                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • Segment-level analysis in terms of type, target along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global Business Management Consulting Service Market By Region, From 2021-2026 ( USD Billion )
  2. Global Business Management Consulting Service Market By Type, From 2021-2026 ( USD Billion )
  3. Global Operations Advisory Market By Region, From 2021-2026 ( USD Billion )
  4. Global Financial Advisory Market By Region, From 2021-2026 ( USD Billion )
  5. Global Technology Advisory Market By Region, From 2021-2026 ( USD Billion )
  6. Global Strategy Advisory Market By Region, From 2021-2026 ( USD Billion )
  7. Global HR Advisory Market By Region, From 2021-2026 ( USD Billion )
  8. Global Business Management Consulting Service Market By Target, From 2021-2026 ( USD Billion )
  9. Global First Market By Region, From 2021-2026 ( USD Billion )
  10. Global Second Market By Region, From 2021-2026 ( USD Billion )
  11. Global Third Tiers Market By Region, From 2021-2026 ( USD Billion )

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