Middle East & Africa Management Consulting Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Middle East & Africa Management Consulting Services Market is expected to register a CAGR of 6.5 % during the forecast period (2022-2027). The COVID-19 pandemic has negatively impacted multiple industries, including management consulting. To recover from the impact, consultancies have been devising various work opportunities and new business strategies and adapting to the post-pandemic scenario.​ The effect of the pandemic on different economies may also provide some options to management consulting firms. However, it is expected that multiple organizations will try to invest their resources into the current operations that demand the most attention without allocating resources for consultancies. ​

• There is a growing need for management consulting services, owing to the strong economic growth in the MEA markets, the regulatory reforms in the financial sector, outsourced back-end operations to low-cost economies, and public investments.
• Several prominent consulting firms are engaging in expansion activities. For instance, in June 2021, PwC announced a new international strategy focusing on environmental, social, and governance services. PwC Global, an accounting and consulting network, plans to invest USD 12 billion and add 100,000 people in the next five years. The investment budget significantly increased over the last five years, when PwC invested USD 7.4 billion, and its annual revenues grew by 20% to USD 43 billion. Over the past five years, the firm's workforce increased by over 25%, to 284,000 people. The planned 100,000-person net growth is poised to bring a headcount increase of more than one-third.
• Digital transformation is one of the major drivers providing a push to the growth of consultancy firms in the region. For instance, in May 2021, Abu-Dhabi-based district cooling specialist, Tabreed, announced that it had initiated a new digital transformation. Therefore, it has chosen SAP and Deloitte as partners, focusing on data analytics and operational improvements.
• Moreover, the region is also witnessing growth from government contracts and demand from the industrial sector. For instance, in February 2021, Ashghal (Public Works Authority) announced that it had awarded Egis with a new contract to provide them with professional consultancy services in connection with designing, building, operating, and maintaining the future Qatari Integrated Industrial Waste-Water treatment plant.
• The complexity is also increasing because clients are gaining better insights into their projects and demanding significant control. The evolution of mobile technology has, for instance, caused a substantial shift in the sector, enabling stakeholders to gain instant access to project information from any location. Hence, project managers face the major challenge of staying on top of their projects within a more dynamic data environment.

Scope of the Report

Management consulting firms assist organizations in increasing their efficiency. The firm examines the operations and determines the existing organizational inefficiencies, which include everything from high raw material costs to HR policies. Following that, the firm employs its knowledge to devise a strategy for resolving all of the difficulties in the most effective manner feasible. Profit margins are shrinking as a result of increased market rivalry in numerous industries, and one of the best methods to raise earnings is to improve organizational performance.

The scope of the market includes the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments, and the emerging trends in the market segments, market dynamics, and insights, along with key statistics, are covered in the report. The scope of the study includes segmentation by various applications such as financial services, life sciences, healthcare, IT and telecommunications, government, energy, among others, and by service lines, such as strategy consulting, financial advisory and technology advisory. The study also covers demand across various countries and study considers the impact of COVID-19 on the market.

Report scope can be customized per your requirements. Click here.

Key Market Trends

Adoption of BI and Advanced Data Management Strategies Expected to Drive the Market Demand

• As a digital revolution is underway in the management consulting services industry, there are tremendous opportunities to enhance the client experience, and advising clients on leveraging analytics is now an essential part of modern consulting. Consultants are acquiring new skill sets to stay ahead of the disruption.​
• Data analytics is a significantly evolving technology that harnesses statistics, AI, and advanced market insights to identify meaningful patterns in large data sets. Smartly deployed analytics provide considerable insights into a company's performance metrics and the complex and often bewildering changes happening around them. In MEA, the corporate spending on analytics consulting is increasing significantly, and the investments are split between developing in-house capabilities and spending on external consultants.​
• In the next five years, technology is expected to be one of the primary drivers that will provide opportunities to consultancy firms in terms of strategic and IT consultancy. Other drivers include increasing mergers and acquisitions that are on the rise, due to the growth of certain industries such as FMCG and healthcare, during the spread of COVID-19 across the region.
• Furthermore, Management consulting provides IT transformation services to enterprises, banks, and other organizations to address rising stakeholder expectations and declining budgets. Such services contain finding critical technologies, setting an IT plan, systematizing, merging, and harmonizing IT solutions through business divisions in a cost-effective model.
• The development of a new sense of quality is innovating the efforts to establish a new perception of quality, and these aspects might increase the market growth. However, growing prices and shrinking margins, as well as breakthroughs in artificial intelligence that have the potential to replace management consultants, may limit industry growth.

To understand key trends, Download Sample Report