Consulting Service Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Consulting Service Market Report is Segmented by Service Type (Operations Consulting, Strategy Consulting, Financial Advisory, Technology Advisory, and Other Service Types) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers the Market Size in Value (USD) for all the Abovementioned Segments.

Consulting Service Market Size

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Consulting Service Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 354.01 Billion
Market Size (2029) USD 447.72 Billion
CAGR (2024 - 2029) 4.81 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Consulting Service Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Consulting Service Market Analysis

The Consulting Service Market size is estimated at USD 354.01 billion in 2024, and is expected to reach USD 447.72 billion by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).

  • The growth of the consulting services market is influenced by several factors. Increased complexity in business operations, evolving technology landscapes, and a growing focus on strategic decision-making drive demand. Companies seek external expertise to navigate challenges, implement digital transformations, and enhance overall efficiency. Globalization, regulatory changes, and the need for innovative solutions also contribute to the expanding market. Additionally, the surge in awareness of the benefits of consulting services among small and medium-sized enterprises further fuels the market's growth.
  • With the growing impact of technology on business, consulting firms anticipate incorporating technology and data analytics into their services to assist clients in staying ahead of the curve. Technology-driven consulting comprises the leverage of advanced technologies, like AI, machine learning, and data analytics, to assist clients in solving complex business problems. This type of consulting assists organizations in making data-driven decisions, automating manual processes, and increasing overall performance. Consulting firms are also leveraging the technology to offer their services in more innovative ways. For instance, they may leverage virtual and augmented reality technologies to assist the clients in visualizing complex concepts or leverage cloud-based platforms to collaborate with clients in real time.
  • Furthermore, the rapid pace of technological advancement fuels the need for specialized consulting in areas such as artificial intelligence, cybersecurity, and innovation management. As organizations strive to stay competitive, they turn to consultants for cutting-edge solutions and industry best practices.
  • The global consulting market thrives on adaptability and innovation. Resistance to change hinders this dynamic by impeding the adoption of new methodologies and technologies. In an age where digital transformation is necessary, organizations that resist transformation may need to catch up to competitors who embrace innovation more readily, further impacting the demand for consulting services.
  • The outbreak of COVID-19 prompted organizations across the country to undertake all the necessary steps to ensure the safety of their employees and the community. The COVID-19 pandemic benefited the market, owing to the rise in remote working and the expanding digital transformation of enterprises. Businesses are looking for business processes that are seamless, efficient, and accessible from any location.

Consulting Service Market Trends

Operations Consulting Service Type to Hold Major Market Share

  • Operations consulting services are mainly used to enhance operational efficiency. Consultancy activities in this segment differ from advisory services to hands-on implementation support for primary functions (e.g., sales, marketing, production, etc.) and secondary functions (e.g., finance, HR, supply chain, ICT, legal, etc.). Operations consultancy forms the largest segment within the advisory branch.
  • Growth in applications such as manufacturing, supply chain management, process management, and operation waste reduction, among others, mainly drives the demand for operation consulting services. Supply chain management, process management, procurement, and outsourcing are some of the most adopted operations consulting services.
  • Demand for operation consulting is expected to grow to enhance operational efficiency and reduce operations costs. Operation inefficiency can cost a business a considerable share of its revenue annually. Consultancies such as Acuity Knowledge Partners offer SCM consulting services, and the company has witnessed a significant surge in demand after the pandemic. Over the last decade, the supply chain management software and procurement market expanded more than twice.
  • Supply chain management consulting services concerning sustainability practices are increasing as companies invest significantly in boosting the ecological footprint of their operations. Businesses in the region have acknowledged the supply chain disruption witnessed in the past years and focused on resilient supply chains to sustain the future.
  • The developed regions also witnessed the growing trend of engaging management consultancies in implementing operations management innovations in the public sector. Different cultures, structures, managerial knowledge, and investment patterns often hamper public services. Operations consulting services are often associated with strategy and technology consulting services; therefore, growth in one eventually fuels the demand for others.
Consulting Service Market: Value Added in the Manufacturing Sector, in USD Trillion, Global, 2018-2028

North America is Expected to Hold Significant Market Share

  • The COVID-19 pandemic accelerated broader transformation initiatives by businesses across industries to come out of pandemic challenges in the best possible organizational and financial shape, leading to the demand for consulting services in the United States. The plan that had been planned for the coming years by the business has necessitated the need for consulting services to make changes and drive business operations, adding growth to the market.
  • The trend of climate control and net zero strategy in end users is creating an opportunity for market vendors in the United States. Companies increasingly seek consulting support to integrate environmental, social, and governance (ESG) considerations into their strategies and operations.
  • For instance, in January 2023, Boston Consulting Group (BCG) and the American Bureau of Shipping (ABS) signed a MoU to offer joint services in decarbonization consulting to marine and offshore value chain clients. The new joint offering can support shipping asset owners in making technical and operational improvements to reach net-zero goals and provide advice on carbon capture technology and the uptake of alternative and low-carbon fuels, among other areas.
  • Technology consulting in Canada is growing slowly as technology adoption among businesses in the country needs to catch up. According to the CME 2023 Technology Adoption Survey by Canadian Manufacturers & Exporters (CME) and Statistics Canada, businesses were reluctant to invest in technology for their operations. The manufacturing sector in Canada was composed of small businesses, with 93% of businesses having fewer than 100 workers and a slower technology adoption rate. Further, the survey stated that 28% of manufacturing businesses were at the beginning of digital transformation, and 12% said they were yet to start.
  • Recent Canadian Digital Adoption Program (CDAP) initiatives support small and medium-sized enterprises (SMEs) to digitally transform their businesses and accelerate digital adoption across the country by the Canadian Federal Government. These are likely to create their way ahead by increasing the demand for technology consulting services in Canada.
Consulting Service Market: Market CAGR (%), By Region, Global

Consulting Service Industry Overview

The consulting service market is highly fragmented, with local and international players having decades of industry experience. The vendors are incorporating a powerful competitive strategy by leveraging their expertise. The market has relatively low exit barriers, which encourages new enterprises to participate and established firms to withdraw when profits are low. Major industry players, like McKinsey & Company, Bain & Company, Boston Consulting Group (BCG), and Deloitte, emphasize providing integrated solutions to attract customers.

  • January 2024: Deloitte acquired all assets of Giant Machines, a digital product company based in New York City. Giant Machines focuses on developing and designing innovative digital products, helping Deloitte Digital and Deloitte Engineering to strengthen their ability to provide clients with a full suite of engineering services to deliver strategy and scale solutions.
  • November 2023: Accenture acquired Incapsulate, a digital transformation consulting firm specializing in Salesforce solutions. As a Salesforce Platinum Consulting partner, Incapsulate strengthens Accenture’s Salesforce capabilities, which mainly focus on assisting clients to utilize data and AI-driven insights to transform how they connect with customers and meet their ever-evolving needs.

Consulting Service Market Leaders

  1. Deloitte Touche Tohmatsu Limited

  2. Accenture PLC

  3. PricewaterhouseCoopers LLP

  4. Ernst & Young Global Limited

  5. Capgemini SE

*Disclaimer: Major Players sorted in no particular order

Consulting Service Market Concentration
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Consulting Service Market News

  • January 2024: PwC Consulting LLC and Monstarlab Holdings Inc., a worldwide provider of digital transformation consultancy, partnered to support digital transformation and cloud transformation, mainly for Japanese companies operating in Japan and worldwide.
  • October 2023: E&Y launched a new and fully integrated marketing campaign entitled “The Face of the Future.” Through this campaign, EY promotes its recently launched unifying artificial intelligence (AI) platform,, highlighting the need to put humans at the center of the AI transformation to help deliver the technology's exponential value.

Consulting Service Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Buyers/Consumers

      2. 4.2.2 Bargaining Power of Suppliers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID-19 on the Industry

    4. 4.4 Industry Ecosystem Analysis

    5. 4.5 Key Regional Hotspots

    6. 4.6 Impact of Industry 4.0 and Digital transformation -Related Practices on the Consulting Services Market

    7. 4.7 Analysis of the Role of Digitization in the Consulting Services Market

    8. 4.8 Prevalent Business Models in the Management Consulting Domain


    1. 5.1 Market Drivers

      1. 5.1.1 Growing Need for Organizational Efficiency

    2. 5.2 Market Challenges

      1. 5.2.1 Client Cost-cutting Measures and Resistance to Change Within Client Organization


    1. 6.1 By Service Type

      1. 6.1.1 Operations Consulting

      2. 6.1.2 Strategy Consulting

      3. 6.1.3 Financial Advisory

      4. 6.1.4 Technology Advisory

      5. 6.1.5 Other Service Types

    2. 6.2 By Geography***

      1. 6.2.1 North America

        1. United States

        2. Canada

      2. 6.2.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Italy

      3. 6.2.3 Asia

      4. 6.2.4 Australia and New Zealand

      5. 6.2.5 Latin America

        1. Brazil

      6. 6.2.6 Middle East and Africa


    1. 7.1 Company Profiles*

      1. 7.1.1 Deloitte Touche Tohmatsu Limited

      2. 7.1.2 Accenture PLC

      3. 7.1.3 Pricewaterhousecoopers LLP

      4. 7.1.4 Ernst & Young Global Limited

      5. 7.1.5 Capgemini SE

      6. 7.1.6 KPMG International

      7. 7.1.7 Boston Consulting Group Inc.

      8. 7.1.8 A T Kearney Inc.

      9. 7.1.9 Mckinsey & Company

      10. 7.1.10 Bain & Company Inc.

      11. 7.1.11 Roland Berger Holding Gmbh & Co. KGAA

      12. 7.1.12 Simon-Kucher & Partners

      13. 7.1.13 OC&C Strategy Consultants LLP

      14. 7.1.14 Gartner Inc.

      15. 7.1.15 Tata Consultancy Services



**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific'. The final report will also include Rest of Europe and Latin America in the Geography segment
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Consulting Service Industry Segmentation

The consulting service market encompasses a vast array of expertise and industries where professionals offer specialized knowledge and guidance to clients seeking solutions to complex problems or improving their operations.

The consulting service market is segmented by service type (operations consulting, strategy consulting, financial advisory, technology advisory, and other service types) and geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Benelux, Italy, Rest of Europe], Asia-Pacific, Latin America [Brazil and Rest of Latin America] and Middle East and Africa). The report offers the market size in value (USD) for all the abovementioned segments.

By Service Type
Operations Consulting
Strategy Consulting
Financial Advisory
Technology Advisory
Other Service Types
By Geography***
North America
United States
United Kingdom
Australia and New Zealand
Latin America
Middle East and Africa
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Consulting Service Market Research FAQs

The Consulting Service Market size is expected to reach USD 354.01 billion in 2024 and grow at a CAGR of 4.81% to reach USD 447.72 billion by 2029.

In 2024, the Consulting Service Market size is expected to reach USD 354.01 billion.

Deloitte Touche Tohmatsu Limited, Accenture PLC, PricewaterhouseCoopers LLP, Ernst & Young Global Limited and Capgemini SE are the major companies operating in the Consulting Service Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Consulting Service Market.

In 2023, the Consulting Service Market size was estimated at USD 336.98 billion. The report covers the Consulting Service Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Consulting Service Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

High-demand sectors driving the Consulting Services Market include finance, healthcare, IT, and manufacturing, where businesses seek to improve efficiency, compliance, and technological integration.

High-demand sectors driving the Consulting Services Market include finance, healthcare, IT, and manufacturing, where businesses seek to improve efficiency, compliance, and technological integration.

Consulting Service Industry Report

The management consulting services market is witnessing significant growth, propelled by the rising demand for consulting services across various sectors. Segmented into operations, financial, technology, strategy, HR advisory, and more, it serves industries like IT, manufacturing, and construction. Growth drivers include globalization, technological advancements, and a focus on efficiency and strategic decision-making. The shift towards digital transformation and AI integration offers new growth avenues, despite challenges like data security risks. The market's expansion is further supported by statistics and forecasts from Mordor Intelligence™, highlighting its potential for driving business success and operational efficiency. Access a free PDF download of this analysis for insights into market share, size, and revenue growth.

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Consulting Service Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)