The global corporate strategy consulting services market was valued at almost USD 30 billion in 2016 and is expected to reach USD 42 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on corporate strategy consulting services for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the corporate strategy consulting market during the forecast period. Some of the top vendors listed in this industry analysis include PwC, Accenture, Deloitte Consulting, McKinsey and Company, and The Boston Consulting Group.
During 2016, Europe accounted for around 40% of the overall market to become the dominant shareholder in the global corporate strategy consulting services market. The UK is the revenue contributing country in the corporate strategy consulting services market in this region. The growth in the region is driven primarily by the demand for consulting services from sectors such as manufacturing and automotive.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The market is experiencing a consistent shift in the demand for strategy consulting. The shift is attributable to changing client needs and the need of clients to make aggressive decisions in shorter TAT. The shift in preferences is spurring the emergence of consultants that provide rapid solutions in any market.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Service providers adopting crowdsourcing model to hire talent
The need for consultants from small and medium business is on the rise owing to the need to keep pace with evolving business requirements and the need for quick decisions. Such developments enable buyers to gain access to the supplier’s global capabilities, talent as well as professional experience.
Consulting firms are increasingly focusing on providing extensive market analysis to clients prior entering new markets. Fueled by the need to cope with the risks of instability and uncertainty of the economic scenario, the demand for analyzing the market space before entry is increasing manifold. As a result, consulting firms in the market are assisting clients in making informed decisions through the provision of a comprehensive overview of the market. This enables the client to identify niche opportunities ad determine growth prospects.
Service providers adopting crowdsourcing model to hire talent
The consulting industry across major regions is experiencing an upsurge in crowdsourcing. The trend is accreditable to the demand for time and cost savings while delivering solutions to clients. This is prompting consulting firms involved in crowdsourcing to engage analysts from across the world to participate in gamified solutions to solve problems. Crowdsourcing helps to consult firms to find talent to help problem-solving, designing of products and services, or spur innovation.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Corporate Strategy Consulting Services – Procurement Market Intelligence 2017’.
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