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Management Consulting Services Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company's Management Consulting Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 14, 2021 /EINPresswire.com / -- New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: [...]
Artificial intelligence (AI) and automation are management consulting services market trends revolutionizing the way management consultants explore data. AI and automation help management consultants handle processing and analyzing of massive amounts of data more efficiently and faster than an average human. They can also provide accurate insights in areas such as sales, operations, supply chain and more. For example, JLL, an American professional services and investment management company specializing in real estate, leverages an AI analysis system to drastically streamline workloads. The real estate consultancy advises on client portfolios that can be from anything between 1 and 100,000 properties, which traditionally took professionals weeks to analyze. In the consulting area, the information gathered through AI on sales channels, customer journeys and client behavior can help consultants identify new opportunities and develop effective strategies for advertising campaigns. According to Euan Cameron, PwC's UK AI Leader, AI could add huge value to the management consulting sector which traditionally was conservative and human-driven. Thus, these technologies are gaining traction in the business management consulting services market.
The global management consulting services market is expected to grow from $819.79 billion in 2020 to $895.46 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1201.06 billion in 2025 at a CAGR of 8%.
According to The Business Research Company's management consulting services market report , Western Europe has the largest management consulting services market share, accounting for 45% of the market in 2020. North America was the second largest region, accounting for 29% of the global management consulting services market. Africa was the smallest region in the global management consulting services market.
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