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:
Indicates sustained demand for consulting services globally (strategy, operations, digital)
Suggests that firms will need to scale, diversify service lines, and maybe globalise further
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:
Growth driven by organisational change, digital transformation, and increased needs from both public and private sectors. GlobeNewswire
Consulting firms are under pressure to evolve given changes in client needs (more specialised, digital-centric) and the technology environment. (See below)