The global business operations consulting services market was valued at almost USD 71 billion in 2016 and is expected to reach almost USD 89 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on business operations 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 business operations consulting services market during the forecast period. Some of the top vendors listed in this industry analysis include Bain & Company, Accenture Plc, Deloitte, Boston Consulting Group, and PwC.
In terms of geographical analysis, the Americas is the largest shareholder in the global market, with a market share of around 55%. The US was the key revenue generating country in this region by accounting for almost 45% of the market in the Americas.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “Digitization of businesses and operational processes is becoming increasingly popular in the global market. Businesses are teaming up with operations consulting firms to develop automated decision-making algorithms, reduce the number of processes, and build operating models and structures. The digitization of intensive process can bring about cost efficiency as well as significantly improve the turnaround time.”
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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.
Push toward intelligent manufacturing facilities to improve productivity
Organizations across the globe are currently focusing on revamping their manufacturing facilities to ensure that they include interoperability, information transparency, technical assistance by systems, and a decentralized decision making. This enables operating managers to gather and utilize critical information to reduce inefficiencies, and subsequently improve the overall productivity.
Increasing need to re-engineer internal business processes for global competitiveness
In order to gain benefits from global economic trends, competitive scenarios, and technological innovation in different regions, it is imperative for a modern business to streamline their business processes. For instance, frequent changes in trade policies and modernization of transport and logistics infrastructure have driven businesses to ensure that their products and services remain available to consumers worldwide.
High production costs driving organizations to adopt cost saving strategies
Product and process quality strategies that focus on customization, reliability and high-speed delivery have forced organizations to evaluate cost factors that need to be controlled for maximum effectiveness. As a result, businesses, especially manufacturing companies, are collaborating with operating consulting firms to implement JIT manufacturing systems in an attempt to influence operating costs.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Business Operations Consulting Services – Procurement Market Intelligence 2017’.
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