Market Share of Consulting Service Industry
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
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Deloitte Touche Tohmatsu Limited
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Accenture PLC
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PricewaterhouseCoopers LLP
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Ernst & Young Global Limited
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Capgemini SE
*Disclaimer: Major Players sorted in no particular order
