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New York, December 31, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the “Strategy Advisory Global Market Report 2022” – https://www.reportlinker.com/p04442224/?utm_source=GNW
The global strategy consulting market is expected to grow from $ 134.14 billion in 2021 to $ 150.41 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the shutdown of business activities that have resulted in operational challenges. The market is expected to reach $ 226.61 billion in 2026 at a CAGR of 10.8%.
The Strategy Consulting market includes the sale of strategic consulting services by entities (organizations, independent traders and partnerships) that provide consulting services aimed at increasing revenues, profit margins, market share and competitive advantage. client. Clients consult strategy advisers for advice on developing new markets, market entry and expansion strategies, and reinventing their business models.
Only goods and services traded between entities or sold to final consumers are included.
The main strategy consulting services are business strategy, business model transformation, economic policy, mergers and acquisitions, organizational strategy, functional strategy, strategy and operations and digital strategy. The business strategy is unique, long term. plan or framework intended to gain a competitive advantage over other market participants while meeting customer / customer and stakeholder promises (including shareholder value).
The different organization sizes include large enterprises, small and medium enterprises and are used by various industries such as IT and telecommunications, healthcare, BFSI, retail, manufacturing and others.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
During the forecast period, the increase in the number of startups around the world will support the growth of the strategy consulting market. According to the report by IT industry body NASSCOM, the total number of tech startups in India rose to 9,300 with 1,300 startups added in 2019.
According to this report, investments in startups amounted to $ 4.4 billion between January and September 2019. As a result, an increasing number of startups in the industrial and financial sectors is expected to fuel the demand for the strategy consulting market. .
The launch of artificial intelligence is gaining popularity in the strategy consulting market. As this new technology develops, many companies are increasingly thinking about integrating artificial intelligence (AI) into their operations.
For example, the global AI market is expected to grow rapidly over the next few years, reaching a market value of $ 190.61 billion by 2025. AI is expected to grow at an annual rate of 33.2% between 2020 and 2027. Artificial intelligence and the future of strategic consulting and its effect on consulting companies are positive, and if properly harnessed, artificial intelligence (AI) could dramatically accentuate the way these companies govern as well as the services they provide to clients.
The high cost associated with strategic consulting services is expected to limit the growth of the strategic consulting market. Different types of services and functions are offered by strategic consulting firms as an expensive package.
For example, a typical strategy case costs between $ 500,000 and $ 1.2 million. High cost variances occur due to the premium of the brand, the length of the case, and the number of consultants required to complete the work. Thus, the higher cost of hiring a strategic advisor will have a negative impact on the market.
In January 2019, Litmus Automation, an Industrial-Internet-of-Things (IIoT) platform provider, partnered with Boston Consulting Group (BCG), for an undisclosed amount, to deliver joint IoT offerings. With this partnership with Boston Consulting Group (BCG), Litmus Automation plans to enable customers to embrace Industry 4.0 and collect valuable real-time data from their assets to make better business decisions. Boston Consulting Group (BCG) is a global management consulting and business strategy consultant.
The countries covered by the strategy consulting market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom United and the United States.
Read the full report: https://www.reportlinker.com/p04442224/?utm_source=GNW
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