Strategy Advisory Global Market Report 2024

Strategy advisory encompasses services that provide organizations with unbiased guidance on high-level decisions, leveraging profound industry knowledge to achieve optimal outcomes. These services assist businesses in maintaining competitiveness by scrutinizing business practices and formulating improvement strategies.

The primary services offered by strategy advisory include corporate strategy, business model transformation, economic policy, mergers and acquisitions, organizational strategy, functional strategy, strategy and operations, and digital strategy. Corporate strategy entails a distinctive, long-term plan or framework designed to attain a competitive advantage over other market participants while fulfilling both customer and stakeholder commitments, including the creation of shareholder value. Organizations of various sizes, ranging from large enterprises to small and medium enterprises, utilize these services across diverse industries such as IT and telecommunications, healthcare, BFSI, retail, manufacturing, and others.

The strategy advisory market research report is one of a series of new reports from The Business Research Company that provides strategy advisory market statistics, including strategy advisory industry global market size, regional shares, competitors with a strategy advisory market share, detailed strategy advisory market segments, market trends and opportunities, and any further data you may need to thrive in the strategy advisory industry. This strategy advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The strategy advisory market size has grown strongly in recent years. It will grow from $137.78 billion in 2023 to $146.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The expansion witnessed in the historical period can be ascribed to factors such as globalization and market dynamics, mergers and acquisitions activity, competitive pressures, and industry disruptions. Additionally, regulatory changes and compliance challenges, along with economic uncertainty and market volatility, have played significant roles in shaping this growth.

The strategy advisory market size is expected to see strong growth in the next few years. It will grow to $198.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be linked to imperatives surrounding digital transformation, considerations for sustainability and ESG (Environmental, Social, and Governance), resilience planning, and risk management. Furthermore, shifts in consumer behavior, global economic trends, and geopolitical factors are expected to contribute to this growth. Noteworthy trends during the forecast period encompass strategies for supply chain resilience, human capital and talent management, customer-centric business approaches, strategic partnerships, and M&A advisory, as well as strategies addressing data privacy and compliance.

In the forecast period, the growth of the strategy advisory market will be supported by the increasing number of startups globally. As of August 2022, India ranked as the third-largest startup ecosystem worldwide, with over 77,000 DPIIT-recognized startups across 656 districts, according to Invest India. The State of Indian Start-up Ecosystem Report, 2022, by Inc42, projected that the cumulative funding raised by Indian startups would reach $180 billion by 2023. Consequently, the burgeoning startup landscape in various industrial and financial sectors is expected to drive the demand for growth in the strategy advisory market.

The ongoing digital transformation across industries is anticipated to propel the growth of the strategy advisory market. Digital transformation involves the comprehensive integration of digital technologies, strategies, and solutions into different facets of organizational operations, business models, and culture to enhance performance, efficiency, and competitiveness. Organizations seeking to navigate the complexities of digital change, formulate effective digital strategies, manage cultural shifts, mitigate risks, and gain a competitive edge require strategy advisory services. Strategy advisors provide expertise, customization, and guidance in optimizing digital investments, making data-driven decisions, and ensuring successful digital transformations. For instance, a report by Alkami Technology Inc. in May 2023 highlighted that mid-size banks and credit unions significantly increased digital transformation investments in fiscal year 2022, reaching nearly $425,000 per $1 billion in assets compared to $200,000 per $1 billion in assets in fiscal 2021. Additionally, the adoption of Peer-to-peer (P2P) payments among digital banking users increased from 12% to 25% in 2022. Thus, the growing digital transformation across industries is a key driver for the strategy advisory market.

The high cost associated with strategic advisory services is expected to impose limitations on the market's growth. Strategic advisory firms offer different services and functions as part of an expensive package, with a typical strategy case costing between $500,000 and $1.2 million. The variations in cost are influenced by factors such as the brand's premium, the case's duration, and the number of consultants required. Consequently, the elevated cost of engaging strategic advisors is such as ly to have a negative impact on the growth of the strategy advisory market.

The adoption of artificial intelligence (AI) is gaining momentum in the strategy advisory market, with many companies exploring the integration of AI into their operations. The global AI market is poised for rapid growth, with an expected market value of $190.61 billion by 2025. The annual growth rate of AI is projected to be 33.2% between 2020 and 2027. The introduction of AI holds positive implications for the future of strategic advisory, and if leveraged effectively, AI has the potential to significantly enhance how these firms operate and the services they offer to clients.

Leading companies in the strategy advisory market are actively developing digital transformation solutions to maintain a competitive edge. As businesses seek to adapt to the digital era, there is a growing demand for advisory services that focus on digital transformation strategies and technologies. For example, in December 2022, Boston Consulting Group, Inc. (BCG), a US-based management consulting company, unveiled BCG X, a transformative tech build and design unit, as a comprehensive solution addressing challenges associated with digital transformation. BCG X, leveraging the expertise of nearly 3,000 technologists, builders, and designers, provides a unique toolbox for accelerated digital transformation, business innovation, AI, and advanced analytics solutions at scale. The initiative aims to empower clients to achieve substantial and rapid impact from digital transformation while overcoming common challenges.

In December 2021, EY-Parthenon, a US-based management consulting company, acquired CMA Strategy Consulting for an undisclosed amount, enhancing its joint Internet of Things (IoT) offerings. This strategic acquisition positions EY-Parthenon to strengthen its digital infrastructure and technology, media, and telecommunications (TMT) consulting services. CMA Strategy Consulting, based in the US, specializes in providing services to the telecommunications, media, and related technology industries.

Major companies operating in the strategy advisory market report are Dell Technologies Inc., Deloitte Touche Tohmatsu Limited, Accenture PLC, IBM Corporation, PricewaterhouseCoopers International Limited, Ernst & Young Ltd., KPMG International Limited, Fujitsu Ltd., Capgemini SE, Tata Consultancy Services Limited, Infosys Limited, The Boston Consulting Group, McKinsey & Company, Booz & Co., Grant Thornton International, Gartner Inc., Bain & Company, FTI Consulting, Oliver Wyman Group, Mercer LLC, ZS Associates, A.T. Kearney Inc., Huron Consulting Group, Roland Berger Group, Simon-Kucher & Partners, L.E.K. Consulting, AlixPartners, HCL Technologies Limited, The Bridgespan Group, Neo-concept (BVI) Limited

North America was the largest region in the strategy advisory market in 2023. Western Europe was the second largest region in the global strategy advisory market share. The regions covered in the strategy advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the strategy advisory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The strategy advisory market consists of revenue earned by entities by providing consulting services that 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 on reimagining their business models. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Strategy Advisory Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on strategy advisory market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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• Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for strategy advisory ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The strategy advisory market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Services: Corporate Strategy; Business Model Transformation; Economic Policy; Mergers & Acquisitions; Organizational Strategy; Functional Strategy; Strategy & Operations; Digital Strategy
• 2) By Organization Size: Large Enterprise; Small and Medium Enterprise
• 3) By End-User: IT & Telecommunication; Healthcare; BFSI; Retail; Manufacturing; Other End-Users
• Companies Mentioned: Dell Technologies Inc.; Deloitte Touche Tohmatsu Limited; Accenture plc; IBM Corporation; PricewaterhouseCoopers International Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.