The overall market size and growth of management consulting
A recent market-report shows that the global management consulting services market is expected to grow from about US$354.4 billion in 2024 to about US$541.9 billion by 2033, a compound annual growth rate (CAGR) of ~4.83%. GlobeNewswire
Why this matters:
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Indicates sustained demand for consulting services globally (strategy, operations, digital)
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Suggests that firms will need to scale, diversify service lines, and maybe globalise further
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For you: it shows the consulting sector remains a strong area of interest in international business, including cross-border, digital transformation, ESG, etc.
Key dynamics identified:
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Growth driven by organisational change, digital transformation, and increased needs from both public and private sectors. GlobeNewswire
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Consulting firms are under pressure to evolve given changes in client needs (more specialised, digital-centric) and the technology environment. (See below)