The management consulting services market
comprise of establishments providing a range of services dealing with advice
and assistance on organization planning, financial budgeting, marketing
strategies, human resource practices, administration policies and production
and logistics scheduling. Such services include solutions for administrative
management issues, strategic and organizational planning, business process
improvement, human resource and personnel policies, developing marketing
planning and strategy, productivity improvement, quality assurance and quality
control.
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The global management consulting services
market is valued at $750 billion in 2017. Drivers of the market are positive
economic trends, digital consulting to drive growth and emerging economies.
In the report, the global management
consulting services market is divided into five segments. Operations advisory
occupies the major share in the market, accounting for more than one-fourth of
the market. Financial advisory, being the second largest, occupies more than
one-fourth of the market share. The remaining half of the share is occupied by
technology advisory, strategy and human resources advisory.
The USA was the largest country in the
management consulting services market in 2017, accounting for more than
one-fourth of the market share. This can be attributed to the rise in demand
for advisory services related to administrative management issues such as asset
management, records management, office planning and other management consulting
services. UK and are the next largest countries in the market.
The management consulting services market is
fragmented, with a number of large and small players. The top five competitors
in the market made up around 9% of the total market in 2017. Deloitte LLP was
the largest competitor of the market, followed by IBM Global Business Services,
PwC LLP, Ernst & Young LLP and KPMG LLP. Deloitte LLP was founded in 1845
and is currently headquartered in New York, USA. The company had 225,400
employees as of 2015.
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