Market Trends of Europe Management Consulting Services Industry
This section covers the major market trends shaping the Europe Management Consulting Services Market according to our research experts:
Operations Consulting Segment is Expected to Drive the Market Demand
- Operations consulting services are used to enhance operational efficiency. Consultancy activities in this segment vary from advisory services to hands-on implementation support for primary functions (e.g., Sales, Marketing, Production, etc.) and secondary functions (e.g., Supply Chain, ICT, Legal, etc.).
- Supply chain management consulting services are proliferating concerning sustainability practices as companies are investing significantly in boosting the ecological footprint of their operations. Businesses in the country have acknowledged the supply chain disruptions witnessed in the past few years and focused on building resilient supply chains to sustain them in the future.
- Manufacturing, supply chain, and process management growth mainly demand operation consulting services. Supply chain and procurement are some of the most widely adopted operations consulting services.
- In March of this year, Accenture acquired Alfa Consulting, a consultancy specializing in operations strategy in capital-intensive industries. The acquisition reinforces Accenture's capabilities for helping clients in Spain, Portugal, and México transform their supply chains to be more resilient, responsive, and sustainable.
According to FEACO, the number of employees in the European management consulting industry increased marginally between 2020 and last year. Also, compared to 2020, management consulting jobs in Greece grew by 11% last year, which was the highest compound annual growth rate (CAGR) that was found.
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DACH Region to Hold the Largest Market Share
- The countries under the DACH region include Germany (D), Austria (A), and Switzerland (CH). These countries are home to many consulting firms, including well-known international consultancies and local specialists. Some prominent consulting firms include Bain & Company, Kearney, McKinsey & Company, Boston Consulting Group, Alvarez & Marsal, Cordence Worldwide, Nextcontinent, Nexe, and many more.
- According to the data from the German association for consulting firms (the BDU), Germany is home to over 4,000 prominent consultancies. These consulting firms advise and support their clients across any conceivable sector and area of expertise, meaning that companies in the private and public sectors face an enormous pool of consultants to choose from for their required services.
- Several consulting firms are getting bigger by opening offices in the area and buying other consulting firms to grow their services and presence in the area.
- These include strategic moves by the companies to enhance their geographical presence in specific potential countries. In May of this year, Reply S.p.A. acquired FINCON Unternehmensberatung GmbH, a prominent German consulting company in digital transformation projects for the banking and insurance industries. Reply's investment in Fincon was in line with the company's overall growth strategy, particularly in Germany.
- Similarly, in June this year, Kestria added Aristide Personalberatung in Austria as its newest member firm. With this addition, the company would be able to have more representatives in the area and offer a wider range of services.
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