Global revenues fell less than 5% during the COVID lockdown and rebounded strongly in 2020-21 (7.6%) and 2021-22 (8.5%)
LONDON, GREATER LONDON, UK, September 1, 2022 /EINPresswire.com/ — The strongest growth was recorded in the strategic advisory services segment, which increased by 10% CAGR between 2020 and 2022, after being the most affected (-5.7% decline in revenue) among 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 short-term economic consequences. Companies need to think and plan strategically to ensure business continuity and effectively deploy disaster recovery tools, as well as more robust and adaptive operating models.
Historically, Western Europe has been the main contributor to the Management consulting sectorwith 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 held a 35.4% market share in 2011, and although North America’s market share has declined, the contraction has been more graceful, with the region still retaining 33.7% of the market in 2021. The rising region is Asia-Pacific, which held 13.6% of the market in 2011, increasing to 16.6% in 2021. During the forecast period to 2031, Western Europe is expected to continue falling but still hold the largest share market at 35.1%, with North America’s share also declining but remaining second at 29.5%, and Asia-Pacific reaching 21.2%.
The other four regions – South America, Eastern Europe, Middle East and Africa – have all increased their market share and are expected to continue growing from a collective market share of 11.5% in 2021 to 14.2% by 2031.
Although Western Europe holds the largest regional share of the market, the United States continues to grow and dominate the serviced office sector among the top ten countries. Over the past ten years, the United States has seen its market share grow from 33.2% in 2011 to 45.7% in 2021. The United Kingdom is the second major country that has also seen growth over the past decade. of the last decade, with a market share of 12% in 2011. and a share of 17.4% in 2021. Germany ranks third, with 9.7% in 2021, followed by France and Japan , both at 6.6%, and China and Australia at 5%.
Management consulting refers to consulting or business 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 proprietorships and partnerships) that provide a range of services dealing with advice and assistance on organizational planning, financial budgeting, marketing, human resources practices, administration policies, production and logistics planning. These services include solutions for administrative management problems, strategic and organizational planning, improvement of operational processes, human resources and personnel policies, development of planning and marketing strategy, improvement of productivity, quality assurance and quality control. Management consulting services undertake processes where human capital is the primary input. They make available the knowledge and skills of their employees, often on an assignment basis, where one person or team is responsible for delivering services to the client.
The management consulting services industry is divided into six main segments:
• Operational advice
• Financial advice
• Technological advice
• Strategy consulting
• HR Consulting
• Other consulting services
Leading companies in the Management Consulting Services Market are:
• Deloitte Touche Tohmatsu Limited
• Total SA
• Ernst and Young
• Aon Plc
• Aon Hewitt
• McKinsey & Company
• Boston Consulting Group Inc.
According to global market model data
The Management Consulting Services Market report is part of a new report series from The Business Research Company that provides Management Consulting Services market overviews, analysis and forecasts of the services market size. Management Consulting Services, Share, Management Consulting Services Market Players, Management Consulting Services Market Segments and Geographies, Revenues, Profiles and Market Shares of Key Market Competitors.
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