Industry revenue of »business and other management consultancy activities« in Denmark 2011-2023

Denmark is one of the most important countries in the Nordic region in most matters concerning not only overall business and economy but also digital transformation. The country’s market for business and management consulting is expected to continue its growth momentum over the next few years with revenues increasing from 3 billion U.S. dollars in 2016 to around 3.7 billion in 2022.

Unsurprisingly, IT consulting is the biggest functional area, accounting for around 10% of the market in 2018, followed by operations management and transformation. Digitalization of the public sector such as the introduction of e-government solutions is the industry’s major growth driver. This is not much of a surprise considering that government expenditure as a share of the total GDP has consistently been over 50% since 2014 and this is expected to continue over the short to medium term as well.

Another factor driving growth is the rapid digital transformation taking place in the country’s financial sector with many firms digitalizing their operations. In fact, total transaction value in digital payments are expected to increase from 11.7 billion U.S. dollars in 2017 to as much as 20 billion U.S. dollars in 2023. Mobile payments are fast emerging as the most preferred method of digital payments in the country.

Industry revenue of »business and other management consultancy activities« in Denmark from 2011 to 2023

Revenue in million U.S. Dollars
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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Denmark. The industry “business and other management consultancy activities“ has the code “M7022“.

Details on the methodology can be found here.

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