{"id":8821,"date":"2016-08-26T12:26:30","date_gmt":"2016-08-26T12:26:30","guid":{"rendered":"http:\/\/www.openbusinesscouncil.org\/?p=2145"},"modified":"2022-05-04T21:38:23","modified_gmt":"2022-05-04T21:38:23","slug":"consulting-industry-market-research","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/consulting-industry-market-research\/","title":{"rendered":"Overview Of The Global Consulting Industry Market"},"content":{"rendered":"

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\"management<\/a>
management consulting firms industry<\/figcaption><\/figure>\n

Overview Global\u00a0Consulting Industry Market.<\/h2>\n

Businesses around the world have more and more to rely in consultancy to thrive through a more complex and disruptive fast changing economic, social and technological fast changing world. The consultancy industry is an increasing part of the business life and special as the international\u00a0economy gets increasingly more volatile and software driven. In these scenario and as\u00a0it stands the global consulting industry revenues – HR, IT, strategy, operations, management and business advisory services – will be about $470 billion in 2016, according to the company Plunkett Research estimative.<\/p>\n

The numbers presented represent a reasonable growth from $449 billion during the previous year.\u00a0In the U.S., consulting of all types, including management, scientific and technical, generated $257.6 billion during 2015, up from $233.9 billion the previous year.<\/p>\n

Accounting and related services consultancy such as tax return preparation generated an additional $155.4 billion in 2015, up from about $145.2 billion during 2014, according to the U.S.Bureau of the Census.<\/p>\n

Deloitte Consulting, PwC \/ Strategy& and EY Advisory are the largest consulting firms of the globe, reveals new research by Gartner. The Big Four accounting and consulting giants together hold 40% of the market, with the top 200 firms globally distributing nearly 80% of the $125 billion advisory market affirms\u00a0consultancy.uk. in\u00a010 largest management consulting firms of the globe.<\/p>\n

\"Top<\/a>
Top 10 global consultancy firms, source consultancy.uk with data from Gartner<\/figcaption><\/figure>\n

Gartner, the leading global analyst firm, conducts a global yearly research in the state of the consulting industry. Its latest edition of the so-called \u2018Market Share Analysis: Consulting Services\u2019 looks into the development of the consulting market, as well as the market shares of the most important players in the landscape.<\/p>\n

The Gartner analysts find that globally spending on management consultants has grown to $125.2 billion in 2014, up 6.1% from $118.1 billion in 2013. The top four largest “Consulting Firms” consulting firms, all with a heritage in the accountancy sector, known as the Big Four Deloitte, PwC, “EY” and KPMG, hold a combined 40% of the total consulting market.<\/p>\n

A lot has been changing compared to a decade ago the Big Four firms have significantly increased their market share, through organic growth and dozens of acquisitions. The top 10 consultancies account for 52% of the market, while down the line the top 200 service providers with consulting services hold 79% market share, suggesting a non-fragmented and consolidating market according to the analysts.<\/p>\n

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global consultancy market, source consultancy.uk with data from Gartner<\/figcaption><\/figure>\n

Consulting a fast growing and a somewhat cyclical industry driven by change and fast moving tech.<\/strong><\/h2>\n

\u201cA consulting firm’s appetite for change, whether they are ready or not, has to be ravenous; otherwise, they will lose revenue and be out of the consulting game faster than expected. The need for a faster speed to change is no longer an option\u201d Gartner research<\/p><\/blockquote>\n

The years 2008-09 marked a challenging period throughout the world of business, in light of the global economic slowdown and shrinking corporate budgets and as digital shifted the global economy more and more the consultancy has been growing and changing to digital, tech and simple the process of change management.<\/p>\n

In general, major consulting companies, including leading firms in management consulting and HR consulting, along with other advisories such as accounting firms, found themselves with substantial drops in business during 2009. An example is\u00a0India\u2019s largest outsourced business and technology consulting firms were complaining that clients were delaying or cancelling projects as 2009 began.<\/p>\n

However, in recent years, consultancy corporate profits in general grew dramatically, meaning that executives are now more willing to authorize new consulting projects as long as they see the potential for a good return on the cost.
\nFor example, India\u2019s leading consultancies have recently enjoyed substantial growth in employee count and revenues, as have most of the global.<\/p>\n

Plunkett Research highlights the positive factors for the consulting industry over the mid-term:<\/p>\n