Market Size of Europe Strategic Consulting Services Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.80 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Strategic Consulting Services Market Analysis
The Europe Management Consulting Services Market is expected to register a CAGR of 5.8% during the forecast period 2022-2027. There is a growing need for strategy consulting services, owing to the strong economic growth in the European markets, the regulatory reforms in the financial sector due to Covid 19, Ongoing Ukraine-Russia War, Brexit, and EU General Data Protection Regulation (GDPR). Most organizations are constantly trying to reduce costs and increase efficiency, leading to increased demand for business process improvisations and consulting related to operational efficiency.
- The rising trend of the performance-based billing business model is anticipated to fuel the Europe strategy consulting market growth. The strategy consulting industry has been working on the time-based billing business model. The business model involves the client interacting with the consultant to obtain value for money for the client in the form of operational efficiency and any strategy formulation.
- The European market has been evolving, making it necessary for businesses to adopt AI/ML-based solutions to execute research and analytical tasks for businesses' strategic growth and development. For instance, Accenture adopted a proprietary tool called myNav to assess existing business needs, architect the optimal cloud solution, execute cloud migration, optimize and manage the cloud estate, and continuously innovate cloud journey that maximizes clients' business value.
- The European market businesses are looking forward to expanding their services to clients, which has increased acquisitions and mergers with startups to develop new products and services instead of relying on in-house development. A multi-sourcing model has become more attractive as businesses' problems get more complex. Companies are now breaking their large projects into smaller ones to serve customers better. For instance, Singapore Economic Development Board (EDB) 's Smart Industry Readiness Index (SIRI) is a series of frameworks and tools to help Industries and manufacturers transform their operations for Industry 4.0.
- The organizations are having or developing in-house consulting groups. The lack of talent and the rise of Freelancers and independent consultants has changed the course of the market. New startups (entrants) in the strategy consulting market have increased competition resulting in pressure on prices and reducing profits for established consultancies. These are some of the challenges the strategy consultant market has been facing.
- The pandemic has reshaped the business process, consumption, and production patterns and attracted regulatory reforms in doing business. Accoridng to FEACO, the demand for durable products (automobiles above all) and fashion goods sharply declined, and lockdowns disrupted supply chains and many factory operations, leading to cancel consulting projects and an average 14.1% decline in the consulting towards Industrial and Consumer products. Therefore the European strategy consulting market has shifted more towards service sectors.
Europe Strategic Consulting Services Industry Segmentation
Strategic Consulting services Market forms a sub-set of overall consulting, focused on the development of corporate, functional, and organizational strategies. The scope of the study is limited to tracking the revenue generated through strategy consulting services in the domains of Corporate Strategy, Business Model Transformation, Economic Policy, Mergers and Acquisitions, Organizational Strategy, Functional Strategy, Strategy and Operations, and Digital Strategy.
Europe Strategic Consulting Services Market Segmented by End-User Industry ( Financial Services, Life sciences and Health Care, Retail, Government, and Energy) and country.
By Country | |
UK | |
Germany | |
Farnce | |
Greece | |
Rest of Europe |
By End-User Industry | |
Financial Services | |
Life Sciences and Healthcare | |
Retail | |
Government | |
Energy | |
Other End-User Industries |
Europe Strategic Consulting Services Market Size Summary
The European Strategic Consulting Services market is experiencing a dynamic evolution, driven by various economic and regulatory factors. The demand for strategy consulting services is on the rise due to strong economic growth, regulatory reforms in the financial sector, and geopolitical events such as the Ukraine-Russia war and Brexit. Organizations are increasingly focused on reducing costs and enhancing operational efficiency, which has led to a surge in demand for business process improvements and consulting services. The market is also witnessing a shift towards performance-based billing models, moving away from traditional time-based models, which is expected to further stimulate growth. The adoption of AI and ML-based solutions for strategic growth and development is becoming essential, with companies like Accenture leading the way in integrating advanced technologies to optimize business operations.
The competitive landscape of the European Strategic Consulting Services market is moderately fragmented, with both local and international players vying for market share. The intensity of competitive rivalry remains high, driven by the need for firms to differentiate themselves through quality certification, service offerings, and technical capabilities. The UK market, in particular, has shown robust growth, with strategic consultancies expanding their services to meet global demand and leveraging digital transformation processes. Mergers and acquisitions are prevalent, providing opportunities for strategic consulting firms to expand their reach and influence. The market is poised for further growth as businesses continue to embrace digitalization and Industry 4.0 practices, necessitating strategic changes to remain competitive.
Europe Strategic Consulting Services Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Market Sizing and Estimates for 2020-2027
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1.3 Industry Ecosystem Analysis
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1.4 Industry Attractiveness-Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Assessment of COVID-19 Impact on the market
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2. MARKET SEGMENTATION
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2.1 By Country
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2.1.1 UK
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2.1.2 Germany
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2.1.3 Farnce
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2.1.4 Greece
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2.1.5 Rest of Europe
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2.2 By End-User Industry
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2.2.1 Financial Services
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2.2.2 Life Sciences and Healthcare
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2.2.3 Retail
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2.2.4 Government
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2.2.5 Energy
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2.2.6 Other End-User Industries
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Europe Strategic Consulting Services Market Size FAQs
What is the current Europe Strategic Consulting Services Market size?
The Europe Strategic Consulting Services Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Europe Strategic Consulting Services Market?
Deloitte Touche Tohmatsu Limited, KPMG LLP, McKinsey & Company, PWC and Ernst & Young Global Limited are the major companies operating in the Europe Strategic Consulting Services Market.