![]() These factors are regarded as reliable business drivers that lead organizations toward digital transaction management (DTM). The digital-driven business model significantly impacts strategy consulting due to its ability to reduce costs, accelerate change, and enhance customer experience. Purchase This Comprehensive Research Report for Valuable Market Insights ĭigital-Driven Business Models Become More Prevalent, Accelerating Market Growth As a result, strategy consulting is becoming increasingly prevalent in numerous verticals, fueling the expansion of the global strategy consulting market. ![]() In addition, the soaring demand for online purchases across several industries makes it difficult for businesses to change how they use their sales channels. The need for consulting services is likely to rise due to high client competition and the penetration of mobile and fixed services, which is foreseen to propel segment expansion. The IT & telecommunication segment accounted for a significant share of the strategy consulting market in 2020. Furthermore, strategy & operations contributed to organizational growth by maximizing traditional and digital methods to lower operational costs and improve productivity.Ĭonvergence of Mobile to Fuel Demand for Strategy Consulting in IT & Telecom The segment’s growth was primarily driven by the surge in mergers and acquisitions, which prompted companies to concentrate on adopting several strategies to integrate or execute business plans and streamline their operations. The strategy & operations segment held the largest share of the strategy consulting market in 2021. Strategy & Operations Services Gained Traction as Businesses Focused on M&A Furthermore, firms focus on expanding their global reach by implementing growth strategies such as partnerships, agreements, and mergers & acquisitions. ![]() Strengthening service offerings has been the primary strategy employed by prominent service providers to gain a competitive edge. The global strategy consulting market is highly competitive with the presence of several companies leading the market. On the other hand, surging costs related to in-house consultation are likely to restrain market growth. In addition, rising technological integration in consulting services is expected to offer a myriad of prospects for market growth. Moreover, the rapid globalization of consulting projects and the increased emphasis on risk sharing through strategic alliances and M&A suggestions further contribute to market growth. The industry is expanding primarily due to the abundance of digitally-driven business models that strategy consulting firms provide. Furthermore, consultants are less involved in business operations than business owners, so they can identify and resolve issues much faster, whether they relate to implementing new technology or concluding a merger or acquisition. ![]() Companies can achieve both long-term and short-term goals with the help of strategy consultants, such as staff optimization and corporate sustainability.Īdditionally, strategy consultants collaborate with organizations from the public and private sectors to address a wide range of challenges in every industry. Strategy consulting, a subset of management consulting, helps businesses make important decisions regarding their operations, employees, and profitability. Dubai, UAE, J(GLOBE NEWSWIRE) - As per the latest report released by Extrapolate, the Global Strategy Consulting Market size was recorded at USD 46.07 Bn in 2021 and is estimated to reach USD 122.62 Bn by 2030, exhibiting a healthy CAGR of 11.65% during the forecast period of 2022-2030. ![]()
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