Global revenues fell by less than 5% during the COVID lockdown and bounced back strongly in 2020–2021 (7.6%) and 2021–2022 (8.5%)
LONDON, GREATER LONDON, UK, September 1, 2022 /EINPresswire.com/ — The strongest growth has been in the Strategic Advisory Services segment, which grew by 10% CAGR between 2020 and 2022, having taken the biggest hit (-5.7% revenue fall) amongst the Management Consulting Services segments during the COVID lockdown. This makes sense if you think about how a “black swan” event, like COVID, can have catastrophic economic consequences in the short term. Companies need to think and plan strategically to secure business continuity and effectively deploy disaster recovery tools, as well as more robust and adaptive operational models.
Historically, Western Europe has been the biggest contributor to the Management Consulting Services Sector, with 42% of the market in 2011, but the region’s market share has steadily declined since then and stood at 38% in 2021. North America had a 35.4% market share in 2011, and although North America’s share of the market has fallen, the contraction has been more graceful, with the region still retaining 33.7% of the market in 2021. The up-and-coming region is Asia-Pacific, which had 13.6% of the market in 2011, rising to 16.6% in 2021. In the forecast period up to 2031, Western Europe is expected to continue to fall but still have the largest market share at 35.1%, with North America’s share also declining but still second at 29.5%, and Asia-Pacific rising to 21.2%.
The other four regions – South America, Eastern Europe, the Middle East, and Africa – have all increased their market share, and are expected to continue to grow, rising from an 11.5% market share collectively in 2021 to 14.2% by 2031.
Although Western Europe has the largest regional share of the market, the USA continues to grow and dominate the serviced office sector amongst the top ten countries. In the past ten years, the USA has seen its market share rise from 33.2% in 2011 to 45.7% in 2021. The UK is the next largest major country that has also grown over the last decade, with a 12% market share in 2011 and a 17.4% share in 2021. Germany stands in third place, with 9.7% in 2021, followed by France and Japan, both at 6.6%, and China and Australia at 5%.
Management consulting refers to business consulting or advisory services provided to the senior management of organizations that aim to improve the effectiveness of their organizational performance, business strategy, and operational processes. The management consulting services (MCS) market consists of the sale of MCS services and related goods by entities (organizations, sole traders, and partnerships) that provide a range of services dealing with advice and assistance on organization planning, financial budgeting, marketing strategies, human resource practices, administration policies, 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 services 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.
The Management Consulting Services sector is divided into six main segments:
• Operations Advisory
• Financial Advisory
• Technology Advisory
• Strategy Advisory
• HR Advisory
• Other Consulting Services
The major companies in the Management Consulting Services market are:
• Deloitte Touche Tohmatsu Limited
• Total SA
• Ernst & Young
• Aon Plc
• Aon Hewitt
• McKinsey & Company
• Boston Consulting Group Inc
As per data on the Global Market Model
The Management Consulting Services Market Report is one of a series of new reports from The Business Research Company that provides management consulting services market overviews, analyzes and forecasts management consulting services market size, share, management consulting services market players, management consulting services market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
Related reports on this topic include:
HR Advisory Services Global Market Report 2022 – By Type (Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting), By Service (Integration & Deployment, Support & Maintenance, Training & Consulting), By End-Use (IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction – Market Size, Trends, And Global Forecast 2022 – 2026
Design, Research, Promotional And Consulting Services Global Market Report 2022 – By Type (Photographic Services, Market Research Services, Advertising, Public Relations, And Related Services, Scientific Research And Development Services, Environmental Consulting Services, Management Consulting Services, Specialized Design Services, Architectural, Engineering Consultants And Related Services), By Mode (Online, Offline), By Service Provider (Large Enterprise, Small And Medium Enterprise) – Market Size, Trends, And Global Forecast 2022 – 2026
Strategy Advisory Global Market Report 2022 – By Services (Corporate Strategy, Business Model Transformation, Economic Policy, Mergers & Acquisitions, Organizational Strategy, Functional Strategy, Strategy & Operations, Digital Strategy), By End-User (IT & Telecommunication, Healthcare, BFSI, Retail, Manufacturing), By Organization Size (Large Enterprise, Small And Medium Enterprise) – Market Size, Trends, And Global Forecast 2022 – 2026
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