The Business Research Company’s Strategy Advisory Global Market Report 2020-30: COVID-19 Growth And Change
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The strategy advisory market consists of the sales of strategic advisory services by entities (organizations, sole traders and partnerships) that provide consulting services which aim to increase client’s revenues, profit margins, market share and competitive advantage. Clients consult strategy advisors to seek advice on developing new markets, market entry and expansion strategies, and reimagining their business models. Only goods and services traded between entities or sold to end consumers are included. During the historic period, an increased number of startups globally contributed to the strategy consulting market’s growth. According to the IT industry body NASSCOM’s report, the total number of technology startups in India has grown to 9,300 with 1,300 startups being added in the year 2019. According to this report, investment in start-ups stood at $4.4 billion flowing between January-September in 2019. Therefore, a growing number of startups across industrial and financial sectors is expected to fuel the demand for the strategy advisory market.
The global strategy advisory market size is expected to increase from $155.23 billion in 2019 to $163.43 billion in 2020 at a compound annual growth rate (CAGR) of 5.29%. The slowed growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The market is then expected to recover and reach $226.91 billion in 2023 at a CAGR of 11.56%.
The major players covered in the global strategy advisory market are A.T. Kearney Inc., Accenture PLC, Deloitte, Bain & Company, Ernst & Young Ltd., KPMG, McKinsey & Company, The Boston Consulting Group, McKinsey & Company, Mercer, PwC, Capgemini, Grant Thornton, IBM, L.E.K., and Oliver Wyman Group.
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