The management consulting services market comprise of establishments providing a range of services dealing with advice and assistance on organization planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling. Such services include solutions for administrative management issues, strategic and organizational planning, business process improvement, human resource and personnel policies, developing marketing planning and strategy, productivity improvement, quality assurance and quality control.
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The global management consulting services market is valued at $750 billion in 2017. Drivers of the market are positive economic trends, digital consulting to drive growth and emerging economies.
In the report, the global management consulting services market is divided into five segments. Operations advisory occupies the major share in the market, accounting for more than one-fourth of the market. Financial advisory, being the second largest, occupies more than one-fourth of the market share. The remaining half of the share is occupied by technology advisory, strategy and human resources advisory.
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The USA was the largest country in the management consulting services market in 2017, accounting for more than one-fourth of the market share. This can be attributed to the rise in demand for advisory services related to administrative management issues such as asset management, records management, office planning and other management consulting services. UK and are the next largest countries in the market.
The management consulting services market is fragmented, with a number of large and small players. The top five competitors in the market made up around 9% of the total market in 2017. Deloitte LLP was the largest competitor of the market, followed by IBM Global Business Services, PwC LLP, Ernst & Young LLP and KPMG LLP. Deloitte LLP was founded in 1845 and is currently headquartered in New York, USA. The company had 225,400 employees as of 2015.
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